2020 Review of Payroll Compliance Reporting

https://taxna.wolterskluwer.com/accounting-and-audit/w2-1099

From the 2020 reviews of W-2 and 1099 compliance systems.

800-375-9542

Payroll Compliance Reporting from Wolters Kluwer is offered only to tax and accounting professionals, and is well suited for smaller firms that currently use other Wolters Kluwer applications such as ATX and TaxWise.  There are two available versions:” 1) The W2/1099 system, which includes only federal forms required for compliance; and 2) Payroll Compliance Reporting, which adds forms for State and local payroll reporting.

Both versions of Payroll Compliance Reporting process W-2s and 1099s, with the form entry screen mirroring the form being processed. Information worksheets are available for W-2s, 1099s, or 1098s for both payers and employers.  In addition to filing with the appropriate agencies, these solutions also prepare W-2s and 1099s that can be distributed to clients and their employees and recipients.

Both products support multiple application a large number of payers and recipients—, a necessity for firms that process year-end   compliance forms for multiple clients. 

Along with year-end   compliance forms, both versions of Payroll Compliance Reporting file quarterly federal payroll tax forms such as Form 940, 941, and 944.

Both versions easily handle paper and electronic filing with the Social Security Administration. All processed forms can be saved as a PDF and later forwarded to clients so they can print the required forms in-house.  The applications can print forms on plain paper or use pre-printed forms as desired. 

This W2/1099 is a standalone solution that offers data import capability from Quickbooks, Sage/Peachtree, as well as from a CSV template created by the user, and also integrates with PaperlessPLUS from Wolters Kluwer, allowing users to store all newly created documents electronically for easy future access.  Both Payroll Compliance Reporting products are updated by Wolters Kluwer annually, and users can easily roll forward data from previous years to reduce the amount of data entry necessary. 

Payroll Compliance Reporting and the W2/1099 system offer solid help functionality, with built-in application and form help.  Users have access to a variety of training webinars, self-help videos, knowledgebase articles, and a new user orientation. Users can log into the Solution Center to download the product   access the learning portal, and obtain other helpful account information. U.S. based phone support and chat are offered during regular business hours, with extended support hours available during tax season. 

In 2020, both Payroll Compliance Reporting and W2/1099 include the new form 1099-NEC which will be used to report non-employee compensation. (Because the IRS is not supporting the 1099-NEC as part of the Federal/Combined program, preparers will need to file the 1099NEC directly to states as required.) Both products support multiple users, as well as unlimited payers and unlimited recipients, which is a necessity for accounting firms that typically process year-end compliance forms for numerous clients.  

The 2020 version of the W2/1099 solution is priced at $285, with the full Payroll Compliance Reporting solution costing at $489. Both products can process and e-file forms W-2 and W-3 with the Social Security Administration, and forms 1099, 1098, and 5498 with the IRS. W2/1099 will also file quarterly returns such as Form 941 and annual Forms 940 and 944 with the IRS using the IRS Modernized e-File System. Both products can also process an unlimited number of payroll returns at $$1.60 per TIN for the first 100 TINs. Those interested in either the W2/1099 or Payroll Compliance Reporting products can contact the Wolters Kluwer for additional information.

2020 Rating 4.5 Stars

Strengths:

• Integrates with ATX and TaxWise
• Handles additional payroll tax forms

Potential Weaknesses

• Is not available as a stand-alone application