If the start of the fiscal year is always such a pain, and you are literally overwhelmed by the dozens or hundreds of w-2 forms you must send by January 31, then here are a few things about w2 software as well as the reasons why you’d want to use it to meet wage and tax statement criteria.
Quick And Clean Work With W2 Software
You might imagine that doing something in a rush is susceptible to errors or poor quality work. That might have been true in the days of the paper forms, but nowadays there are many software versions to help you with managing tax returns in an organized and accurate way. You get plenty of functions such as importing files and then browsing through them to reach the data you need.
For example, you can import all the Excel worksheets containing by month wages paid to each employee. You can see how much you paid in compensations, bonuses, the tips each employee has earned, etc. You get to find this information fast by browsing through the files and performing searching based on name, account number and even social security number.
That way you get to fill the statements fast and send them over to employees so they have time to fill the required fields and send them back to you (W2 Needs https://www.1099-etc.com).
Make Sure You Send Reports To Meet Deadlines
You probably know that the penalties associated with missing deadlines are not light. You pay only 30 dollars per form if you are overdue the deadline by as much as 30 days, with a potential increase up to 100 dollars per form. If you have many employees, that can be a huge problem. Inaccurate reports are even worst in terms of fines, as you can expect to pay 250 dollars for each form. Again, if you have many employees that can amount to a great deal, and the cap isn’t friendly either, as it is set to 3 million dollars. You can avoid all these hefty fines and make sure you comply with standards and regulations by using the latest w2 software you can find from a reliable developer.