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SaferWatch™ announces TIN Manager™

01-17-2011 01:51 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: SaferWatch.com

HEBRON, ND – SaferWatch announces the release of their latest software solution, TIN Manager™. The TIN Manager feature is designed to verify the accuracy of Taxpayer Identification Number (TIN) and name information prior to submitting 1099’s to the IRS so that the company will not be penalized or fined for mismatches.

TIN Manager eliminates tax preparation hassles by giving the bookkeeping departments of broker and shipper businesses a tool to match all of their TIN and name combinations with IRS records and receive detailed results in a report. The results report can prove due diligence. Internal Revenue Code 6724 provides any penalties under Section 6721 may be waived if the filer proves the TIN and name combination they submitted matched IRS records.

“Our customers have repeatedly expressed their frustration in managing the whole 1099 process and the part that stings the most is the fines that are assessed due to mismatches”, shares Mark Draeb, president and CEO of Grizella, SaferWatch’s parent company.

“A carrier’s Social Security Number (SSN) or Employer Identification Number (EIN) combined with the payee name as recorded on their W-9 does not always match with that individual’s name or business name officially on record with the IRS. Penalty notices due to TIN matching errors is a very real issue and can total up to $500,000 for a small business. We created TIN Manager to help our customers because time is always of the essence. Their overall objective is to work as efficiently and effectively as possible to bring more to the bottom line. Our overall objective is to provide the tools to help make that happen”, Mark added.

SaferWatch, http://SaferWatch.com, is Grizella Corporation’s software solution for freight brokers and shippers. SaferWatch validates, evaluates and monitors motor carriers, insuring that the carrier hiring decisions they make are based on real-time data and will not put their business at risk. Established in July 2000, Grizella Corporation is a technology company dedicated to building affordable, easy-to-use software for the freight transportation industry. Grizella Corporation, also the providers of PostEverywhere®, is the largest provider of aggregation services for brokers. They also provide a variety of consulting services to the industry.

SaferWatch announces TIN Manager, their software solution to validate 1099 payees and eliminate IRS mismatch penalties.

SaferWatch.com
P.O. Box 515; Hebron, ND

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