We hope to answer any questions you have about Magtax here
on this page. If for any reason you have a question,
firstname.lastname@example.org and we will be more than happy to
explain the features further.
- What forms does Magtax support?
1099-Int, 1098, 1098-C.
These forms comprise 90% of forms filed. We will gladly add
any form requested.
- Can I file returns for multiple companies?
Magtax supports and unlimited number of companies and
reporting agents. Magtax also supports separate filings by
- What brand of pre-printed forms does Magtax support?
We prepare Nelco forms but will support any form.
There are only a handful of unique forms such as 4 per page
- Does Magtax produce other reports?
reports of you filings can be printed for your records in
PDF and other formats.
- What information is kept by Magtax?
employees and payees is kept year to year. Converting
payees each year maintains the prior year data and
optionally clears the current entry fields.
- What about importing from QuickBooks?
limitations in the interface provided by Intuit.
the import of W-2's, you will need to assign earnings and
deductions to the appropriate form fields.
1099-Misc forms, all amounts go into Box-7. Please
contact support if the majority of your forms are for a
different box. We can provide a field to move the
amounts to the other Boxes.
02-20-2009 - Intuit has
released a test version of their latest programming
interface which should remove this limitation.
- When reading over the SSA guidelines for magnetic filing
of W-2's, they request that if a person files W-2's for more
than one EIN that they should all be included in one file.
Does your software offer this capability? We are interested
in purchasing your software but this is a very important
feature for us. We have 3 separate companies and one of
those companies has 5 separate operating units.
request is targeted at service bureaus. In practice it is
done a little differently. Our software currently allows you
to process a single payer in a submission file (W2REPORT).
If I understand your situation, it breaks down like this:
- Company1 (FEIN1)
- Company2 (FEIN2)
- Company3 (FEIN3)
- Company3 Div1 (FEIN?)
- Company3 Div2 (FEIN?)
- Company3 Div3 (FEIN?)
- Company3 Div4 (FEIN?)
- Company3 Div5 (FEIN?)
Each of the 3 entities would be a separate diskette or
upload. (W2REPORT file). Now, the company with 5 operating
units.. does it have 5 EINs? If they have 5 EINs they could
be filed separately. If they share an EIN, then look at the
'establishment number' information. This is
specifically to allow large companies to file separate
reports from different divisions (same EIN). All
correspondence with the IRS/SSA is separated by
- If I enter data into the trial version, will I have to
re-enter the data if I purchase Magtax?
trial version is the real product with some features
disabled. Once you purchase Magtax, we send you
registration information to enter and that enables all the
- Does the file I submit comply with the SSA’s MMREF-1 and
Yes it does. It's the only format the SSA allows.
- Does creating the report require a lot of manual labor
and/or entering of data?
No. You may need to adjust that rare employee (usually
executives with some other sort of benefits). You may also
need to adjust for things like Section 125 deductions. These
types of changes are handled by a process by clicking the
Modify Data button the the W2 screen. It'll adjust all
employees at once. The online help describes all the
- As I was reading the SSA instructions, I log into their
site & then browse to select the file to be sent. Will the
file already be prepared in your software for me to just
click & insert?
Yes. You generate the file in Magtax before going to the SSA
site. W2Report is the standard name of the file. There is a
Generate menu in Magtax to Create this file, but it is not
created until you tell Magtax to create it.