Supported Forms

No Extra Charge for Additional Form Types

There is no extra charge for additional form types. Other vendors may charge more if you need to process forms other than 1042-S. With our system you can process any of the forms listed above with the $249.95 system.

Unlimited Issuers and Recipients

With the WorldSharp™ 1099/1042-S Preparation System, you can process as many issuers and recipients as you need without any additional cost for volume processing. You add issuers in the 'Issuer Information' tab and you can assign a friendly Issuer Id so that you can locate the issuer record if you have a lot of issuers. Although different forms can be present for the same issuer record, you may elect to establish separate issuer records for each form type for better organization.

Special 1042-S Screens for Issuer Information

There are special screens to enter Withholding Agent and other information that just pertains to 1042-S forms. Some of that information has to with Intermediary or flow-through entities. There are also fields for default information for recipients in case all or most of the recipients have identical information in some of the fields.

Form View Data Entry

Our 1099/1042-S software program makes it easy to enter data. The entry program allows for input of all fields required for printing and electronic reporting of each 1099 tax form. Once the type of form is specified, all screens are tailored to that type of form. There are two methods of entry, a rapid entry and a form view entry. In the form view entry, the fields appear on the screen exactly as they do on the printed form.

Rapid View Data Entry

If the tab under recipients is set to Regular view, the operator is in rapid entry mode. The fields are displayed in a column with the appropriate box number and description. The account infomation is presented at the top and form information is at the bottom. Acounts may be located or accessed by account number, alphabetic or by Tax Identification number.

Extensive Printing Capabilities and Options

The forms may be printed on plain paper or pre-printed forms. Options are provided to allow the user to align the printing because they may vary by vender or printer. The user may set which 'Copy' to print, the sequence and whether to print a single page with instructions under the form or to print multiple forms on a page.

Standard labels and reports of those receiving forms can also be printed.

Import 1099 Data

Importing 1099 or 1042-S data into our 1099/1042-S software program may be the most important feature and distinguishes it from other systems. Data may be imported from spreadsheets or other files. The import process consists of mapping an existing spreadsheet by entering which columns are to be imported. It can import files with comma delimited, tab delimited, and fixed length records. 1099 or 1042-S files in the IRS format may also be imported. For example a 1099 IRS file created a previous year or created by another software system may be imported. Although we have made the import very easy to use, our 1099 software support staff stands by to help (we don't want you to struggle using any part of the system).

Spreadsheet Templates Provided for Import

We provide spreadsheet templates for the 1042-S or any of the 1099 forms. However, you are not required to use those. The import process consists of mapping a spreadsheet by entering which columns are to be imported. Mapping is provided automatically for the provided templates. If you are not using the templates, for your existing spreadsheet, is not necessary to delete columns not used in the import process and no need to put the columns in a specific sequence.

Electronic Filing (e-file) with all Systems

Our 1099/1042-S software program makes the preparing of 1099 or 1042-S electronic transmission files so easy that you will not want to send in printed 1099 or 1042-S forms to the IRS even if you have only 10 forms to submit. Creates 1099 or 1042-S files in the format required by the IRS for electronic transmission. The 1099/1042-S software program is updated each year to reflect the format changes that are made by the IRS. WorldSharp™ has a very high acceptance rate, but in the rare event that your files are rejected by the IRS, WorldSharp™ will analyze your files and help you prepare replacement files that will meet the IRS 1099 or 1042-S requirements. Prints Forms 4419 and 8809 if needed. Every system ships with electronic filing included at no extra charge.

Corrections and Forms from 2000 to 2015

The 1099/1042-S software program allows the user to process forms and corrections for years 2000 to 2024. Some WorldSharp™ customers use mainframe computers for initial electronic reporting and then use WorldSharp™ 1099/1042-S Preparation System to print and report 1099 or 1042-S corrections. This also allows them to process form types that their mainframe software systems might not support.

Creates File for TIN Matching Program

The 1099/1042-S software program allows the user to create a file to submit to the IRS for the Bulk On-Line Taxpayer Identification Number (TIN) Program. Details of this function along with who needs to use it is described in the IRS Publication 2108A. That publication is provided with the system. After submitting the file, you will receive a response from the IRS indicating any TIN's they have determined to be incorrect. This capability comes with the system at no additional cost.

IRS Information Provided with System

1099 and 1042-S related forms, instructions and publications from the IRS are provided with the system. This prevents you from having to locate the forms or instructions on the IRS web-site.

Some IRS Information is enhanced by WorldSharp™

In some cases WorldSharp™ has revised the presentation of the IRS codes, tables and information to make it more readable and useable.

Detailed 1099/1042-S Preparation Manual

There is an extensive detailed manual to use with the system that is provided in both Microsoft Word and PDF format. It shows what information is required for each field in the system.