TFP Data Systems Rolls Out New Tax Form Print-and-Mail Facility

TFP Data Systems recently debuted its new tax form print-and-mail facility with a ribbon cutting ceremony in Oxnard, Calif.

The new facility was built in response to increased customer demand for an outsourcing provider to process employee and contractor W-2 and 1099 forms. This is a growing trend, with more employers seeking business process outsourcing solutions to save time and personnel costs, while ensuring complete protection of sensitive tax information.

Now, customers can outsource a previously labor-intensive task to a safe, secure and reliable print-and-mail facility. In fact, the facility is currently in the process of becoming SOC-certified by the American Institute of CPAs-a stringent process expected to be finalized in the next few months. Other aspects of the certification, such as data storage, are already complete.

"This is a huge differentiator in the marketplace as we will have one of the few SOC certified print-and-mail tax form processing solutions in the country," said Richard Roddis, TFP president. "Businesses can rest assured their employee tax data and other confidential information will be secure through every step of the process."

The new facility can print up to 500,000 forms per day. In addition to W-2 and 1099-MISC forms, the facility processes these tax forms:

• 1098 Mortgage Interest Statement
• 1098-C Contributions of Motor Vehicles, Boats, and Airplanes
• 1098-E Student Loan Interest Statement
• 1098-T Tuition Statement
• 1099-A Acquisition or Abandonment of Secured Property
• 1099-B Proceeds From Broker and Barter Exchange Transactions
• 1099-C Cancellation of Debt
• 1099-DIV Dividends and Distributions
• 1099-G Certain Government Payments
• 1099-INT Interest Income
• 1099-K Payment Card and Third Party Network Transactions
• 1099-LTC Long Term Care and Accelerated Death Benefits
• 1099-OID Original Issue Discount
• 1099-PATR Taxable Distributions Received from Cooperatives
• 1099-R Distributions from Pensions, Annuities, Retirement, etc.
• 1099-S Proceeds From Real Estate Transactions
• 1099-SA Distributions from an HSA, Archer MSA, or Medicare Advantage MSA
• 3921 Exercise of an Incentive Stock Option under Section 422(b)
• 3922 Transfer of Stock Acquired through an Employee Stock Purchase Plan under Section 423(c)
• 5498 IRA Contribution Information
• 5498-SA HSA, Archer MSA, or Medicare Advantage MSA Information

All forms are printed in a pressure-seal format for additional security and to eliminate the cost of purchasing separate envelopes. With its combined benefits, outsourcing to a print-and-mail facility is the perfect solution for businesses with 500 or more filings.

For more information, visit www.tfpdata.com.