TFP Data Systems Rolls Out Enhanced W-2/1099 Processing Service
Electronic filing is quickly becoming the preferred method for filing 1099s, W-2s and other business tax forms due to its accuracy, safety and speed. Now, thanks to an enhanced, IRS-authorized e-file platform, partners of TFP Data Systems, Oxnard, Calif., can offer this in-demand option to their customers.
The setup is simple. On the front end, businesses receive a co-branded e-file website personalized with the company logo and an "About Us" section. Customers access the e-file site from a link on the company's primary site.
Behind the scenes, TFP provides comprehensive processing services, including electronic filing with the Internal Revenue Service (IRS) and Social Security Administration (SSA)-as well as printing and mailing recipient copies from a secure, SOC-certified facility.
"E-file is more convenient, cost-effective and secure than paper forms and software, making it the perfect filing solution for small businesses," said Christian Ferris, E-file product director. "Customers can enter recipient information directly on the site or use our QuickBooks plugin or Excel template to upload data."
The new site also features smoother navigation and enhanced functionality. For example, the upgraded e-file platform will now support additional form 1042-S (foreign workers receiving US income) and allow for easy file corrections online. In addition, the site can now file for recipients with foreign addresses.
For businesses experiencing declining paper sales, the benefits of offering e-file to their customers are numerous. Participating businesses will enjoy:
- Fast and easy setup
- Ready-to-go marketing materials
- High retention rates (once customers use the e-file site and import their data, they're likely to return for subsequent seasons.)
- Increased revenue per filing versus paper forms
- Choice of topline revenue or a rebate at the end of the season
- Control over customers migrating to another provider
"We're thrilled to extend this full-service e-file option to our TFP partners," Ferris said. "As more and more businesses are moving their W-2 and 1099 filing online, now is the time to get in on this market. Once customers use e-file and recognize its ease and convenience, they're committed. This provides 'stickiness' in the tax forms category-something we really haven't seen before."