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NewswireToday - /newswire/ -
Angel Fire, New Mexico, United States, 01/23/2011 - WorldSharp
Technologies, Inc. announces the 2010 version of WorldSharp 1099
Preparation System with Electronic Reporting now includes Forms 3921 and
3922. These are new forms that are used for exercise and transfer of
stock options by employees.
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WorldSharp
Technologies, Inc. today announced the inclusion of Forms 3921 and 3922
in the 2010 version of WorldSharp 1099 Preparation System. Form 3921 is a
form that is used to report exercise of an incentive stock option under
Section 422(b). Form 3922 is used to report transfer of stock acquired
through an employee stock purchase plan under section 423©. The
applicable form must be provided to the employee on or before January 31
of the year following the calendar year in which the transfer of stock
subject to Section 6039 occurs.
An employee information statement must be delivered in person or mailed
to the employee’s last known address (and may be delivered
electronically if the employee consents to such electronic delivery).
Generally, failure to furnish such information statements to employees
in a timely manner (where such failure is not due to the corporation’s
intentional disregard of the requirements) will result in a $50 penalty
per failure, up to a maximum of $100,000 per calendar year. Intentional
disregard of these requirements may result in higher penalties.
The 1099 software program is ready to ship with the new form changes and
the IRS electronic reporting and correction specifications for 2010.
The system now has even easier importing capabilities. When ordered, the
software can be downloaded or shipped on CD. The system is priced very
competitively at $89.95 for a single user version. A 10-license version
is $249.95. There is no extra charge for the inclusion of forms 3921 and
3922.
The data can be imported from files of other computer applications or
spreadsheets. The WorldSharp customer support staff is available to help
customers import their data and electronically file their returns. For
very reasonable prices, WorldSharp will even print, mail and e-file for
their customers.
Printing can be on pre-printed forms or blank paper. The system can
print the form and the data, so there is no need to purchase forms. The
standard version prints and electronically reports 1098, 1098-C, 1098-E,
1098-T, 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H,
1099-INT, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-R, 1099-S,
1099-SA, 3921, 3922, 5498, 5498-ESA, 5498-SA, 8935 and W-2G. A special
version is available which also prints and reports Forms 1042-S.
Bobby Anderson, president of WorldSharp Technologies said that in the
past, the system was primarily used by banks and financial institutions,
which is WorldSharp’s main marketing focus. However, in order to
provide the quality software package to companies in other industries,
WorldSharp lowered the price from $500 to $89.95. Unlike other systems,
the WorldSharp 1099 Preparation System allows users to process any kind
of 1099 form and has no restrictions on the number of forms processed or
the number of companies processed.
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