ANN ARBOR, MI--(MARKET WIRE)--Oct 28, 2008 -- For businesses around the country, the year-end tax reporting season is looming. Form 1099 data must be accurately reported in payee statements, and this year it must be electronically reported to the IRS.

Manchester 1099 Software (http://www.manchester1099.com/index.php) from Balance Consulting offers a dependable, secure solution, and the 2008 reporting version is available now -- just in time for IRS test filing which begins November 1st.

Reducing Penalties

The IRS requires businesses to report certain transactions, the most common of which are non-wage income, rents, services, interest, medical, and attorney payments. This information reporting system is the primary way the IRS verifies the accuracy of returns filed by individual taxpayers and businesses.

Since penalties for noncompliance can be steep, it is important for businesses to keep accurate records and stay on top of rule changes that affect tax information reporting.

Manchester 1099 Software

"Intel has been using Manchester Pro for years," said Reed Falkenberg, Intel Corporation. "From uploading the 2,700 records filed each year to exporting the formatted file to the IRS website, Manchester Pro is an intuitive software program that can be easily mastered by using the practice database."

After importing data, Manchester 1099 Software allows users to validate their records, consolidate duplicate records, check for errors and track changes.

Users identify and track P-card payments from within the software. P-card payments are a growing focus of the IRS as they look to generate more revenue.

Manchester creates a complete audit trail of all activity. It also backs up data, and sensitive files are securely stored on in-house servers.

Pricing and Availability

Manchester 1099 Software is available via download, giving organizations time to keep track of taxable payments, print and mail statements to payees, and report payments to the IRS at year end.

Manchester Pro starts at $475 for fewer than 1,000 returns. Factors that determine the price include the number of returns, features required, and number of users.

Balance Consulting LLC

Balance Consulting (http://www.balanceconsult.com/), founded in 1989, is the leader in Form 1099 compliance and reporting education. Its Manchester 1099 Software includes the penalty avoiding procedures taught in Balance Consulting seminars to help users file accurately and on time.

     Contact:
     Deb Bethel
     734.668.1099
     http://www.balanceconsult.com