2016 Review of Magtax W-2 and 1099 Filing System

Product Strengths:

• Product is available in two versions; Standard and Professional
• Product is easy to setup and navigate
• Offers an excellent selection of training and support tools

Potential Limitations:

• Limited product integration available

Magtax, from American Riviera Software is available in two versions; Standard and Professional, and also offers a foreign reporting version as well. Also available is an Affordable Care Act add-on module to process ACA forms 1094/1095.

From the 2016 review of W-2 and 1099 preparation and filing systems.

Basic System Functions – 4.5 Stars

Magtax offers an easily navigated user interface. Users can access the new filing wizard to create new datasets for processing, with the new dataset appearing in the Payer Manager area. The interface features a menu bar at the top of the screen with system functions such as W-2 and 1099 available. Users can also access the Options feature, which offers options to edit existing companies, access IRS and SSA filer details, and the option to copy datasets. The Standard version of Magtax offers a single user license, which supports a single company with multiple clients supported as well. The Professional version offers a 5 user license and offers enhanced client management capabilities. Both versions support unlimited e-filing, with the Professional version offering the ability to e-verify employees and payees, along with a filing extension (Form 8809).

Once a dataset has been created, users have the option to enter data directly into the product, of import data from QuickBooks or Excel files. Users can also import data from previous years to avoid duplicate data entry. The options in the Dataset Manager include Ready 2 Generate and Ready to File options, as well as a Filed or Cancelled option.

Reporting – 4.5 Stars

Magtax features a series of management reports that users can access to track and manage filing status. Available reports include Client Status Reports, Client Detail Reports, IRS Filing Status, and SSA Filing Status.

The product supports all common year end compliance forms, including W-2, 1099-MISC, 1099-INT, 1099-DIV, 1099-C, 1098, and 1098-C, which are supported in the Standard version of the product. Additional 1099 forms as well as 1042-S are supported in the Professional version of the product. Both versions will print on both plain paper as well as pre-printed forms, and users can easily save forms to a variety of formats including PDF, JPG, TIF, and EMF.

Both W-2 and 1099 forms can be electronically filed, with users able to review forms prior to e-filings. Once forms have been approved, a batch is generated, which is then uploaded to the appropriate agency for filing. Once the batch is uploaded, it becomes available in the filing history, where users can then access the information in report format.

Integration/Import/Export – 4.25 Stars

The Standard version of Magtax allows users to import data from Excel, TXT, and CSV files as well as W-2 and 1099-MISC information from QuickBooks. The Professional version also allows data import of other 1099 data from QuickBooks, as well as old e-file formats. Users can also access the prior year version of Magtax to import prior year data to populate datasets.

Help/Support – 4.5 Stars

A comprehensive user’s guide is included in Magtax with users able to access the guide directly from the user interface. An online version of the user’s guide is available from the Magtax website as well, along with other help tools such as tutorials and a getting started overview. Users can download a completely functional demo to review, and the system makes good user of wizards to assist new users with setup options. Product support is typically provided by email, with users able to make an appointment if telephone support is desired.

Summary & System Pricing

Magtax is an excellent year-end compliance and e-filing product, suitable for both businesses and professional accountants. The Standard version of Magtax is available for 199.00, with the Professional version running $299.00. Prior users will pay significantly less for the product renewal.

2016 Overall Rating: 4.5 Stars