Square 9 Softwork Expands Digital Transformation Essentials With New Solution for Tax Compliance
GlobalSearch for Tax Compliance helps organizations securely collect, store, manage, and retrieve important tax information
Square 9 Softworks, developers of award-winning enterprise content management (ECM) and digital transformation solutions, is proud to announce the expansion of Digital Transformation Essentials with a new solution for staying in compliance with Federal, State, and Local tax mandates.
Businesses are required to collect federally mandated documents for tax reporting purposes. This includes Reseller Certificates, Tax Exempt certifications, and the federal W-9 for collecting reporting information from independent contractors. Businesses who pay vendors or contractors $600 or more during a tax year are required by law to report these payments to the Internal Revenue Service (IRS) using a Form 1099-MISC. Organizations in violation of the mandates surrounding collecting and retaining these critical tax documents are subject to penalties and additional withholding taxes.
By developing a solution that checks and manages tax form status and then securely collects vendor and contractor W-9’s through a web-driven process, organizations will find it easier, faster, and more secure to get business done.
The Tax Compliance solution available in Digital Transformation Essentials includes pre-built, downloadable W-9 web forms that make collecting completed W-9s fast and simple for any business, regardless of their size or industry. As part of Digital Transformation Essentials, the new Tax Compliance offering provides the secure collection of tax documents with permission-based access and retrieval of sensitive information in a SOC, 1, SOC 2, and HIPAA compliant cloud repository. To further protect and secure information, the Tax Compliance solution provides for the encrypted transfer and storage of these documents as well as audit trail logs of each user by date.
“We realized there is an opportunity to help businesses simplify their tasks related to managing their Form 1099-MISC, Form W-9, and Tax Exempt Certificates,” said Stephen Young, CEO of Square 9 Softworks. “Our goal is to help businesses simplify common tasks by digitally transforming inefficient processes. By developing a solution that checks and manages tax form status and then securely collects vendor and contractor W-9’s through a web-driven process, organizations will find it easier, faster, and more secure to get business done,” said Young.