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TIN matching allows a payer to submit a
TIN/Name combination to be matched against IRS records. You can
accomplish this interactively and receive an instant response for up
to 25 TIN/Name combinations at a time or with Bulk TIN Matching, you
can submit an electronic file of as many as 100,000 TIN/Name
combinations and receive matching results by email within 24 hours.
Both programs will:
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Match the payee with W-9 name
and TIN with IRS records;
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Decrease backup withholding
and penalty notices;
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Reduce the error rate in TIN
validation.
1099FIRE Bulk TIN
Matching Feature will save you time & money! According to the IRS,
there are approximately two million payees that have incorrect or
missing TINs. The IRS sent 50,000-65,000 proposed penalty notices
last year. The IRS penalty is $50.00 per mismatch!! Avoid IRS
penalties by processing your Bulk TIN Matching with our Service
Bureau. Pricing is $59.95 per Bulk TIN upload file, for up to
100,000 TIN/Name combinations or four (4) submissions at $99.
How are we
different?
Many companies
offer TIN matching services. One distinction with our TIN matching service is that you
have four (4) opportunities to re-submit your data throughout
the calendar year. You can submit your data and get the
results back within 0-2 days. Research those TIN/name
combinations that did not match up and resubmit for a total of
4-submissions. This gives you an opportunity to clean up your
TIN/name combinations.
Order TIN
Matching Service
You can order the TIN matching solution here:
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Order |
Version |
Cost |
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TIN
Matching for up to 100,000 TIN/Name combinations and up to
four (4) submissions |
$129.95 |
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The cost is nonrefundable. Please call (480) 460-9311 for
pricing if you have over 100,000 records. Payers, or their
authorized agents, may only perform TIN Matching for the TIN/Name
combinations for income subject to backup withholding and reported
on Forms 1099-B, DIV, INT, MISC, OID and/or PATR.
Matching
Indicator
Within 24 hours, 1099FIRE Service Bureau will process your data and
email your results in a password protected file, in the
form of an Excel spreadsheet, with detailed and highlighted
descriptions of errors.
The IRS displays one of the following
"Match Indicator" codes next to the TIN and name combination:
0 =
TIN and Name combination matches IRS records.
1 = TIN was missing or TIN not 9-digit numeric .
2 = TIN entered is not currently issued.
3 = TIN and Name combination does not match IRS
records.
4 = Invalid TIN Matching request (i.e., contains
alphas, special characters)
5 = Duplicate TIN Matching request.
6 = TIN and Name combination matches IRS SSN
records.
7 = TIN and Name combination matches IRS EIN
records.
8 = TIN and Name combination matches IRS SSN and
EIN records.
Using the TIN
Matching system allows you to verify the accuracy of taxpayer TIN
and name information prior to submitting information to IRS.
Internal Revenue Code 6724 provides any penalties under Section 6721
may be waived if the filer shows the failure to file a correct TIN
on an information return was due to reasonable cause and not willful
neglect. Filers may prove due diligence and receive a waiver from
proposed penalties if they prove the TIN and name combination they
submitted matched IRS records. Providing a copy of the Print Screen
of your Interactive Results will be considered proof of due
diligence.
Related Links
Please send an e-mail to
info@1099fire.com with any feedback or comments
about any of our products or services.
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