Press Release - December, 2009
SSN Masking is Allowed & Supported by 1099 Pro!
SSN Masking feature prevents companies from exposing themselves to unnecessary risks and liability. With the IRS's approval of SSN Masking, the responsibility to protect the security and identity of recipients now falls onto the companies that send out statements that include social security numbers.
IRS Notice 2009-93: Truncating Social Security Numbers on Paper Payee Statements
There are 3 requirements they must satisfy in order for a filer to mask TINs.
1. The identifying number is a social security number, IRS individual taxpayer identification number, or IRS adoption taxpayer identification number.
2. The identifying number is truncated by replacing the first five digits of the nine-digit number with asterisks or Xs (for example, a social security number 123-45-6789 would appear on the paper payee statement as ***-**-6789 or XXX-XX-6789).
3. The truncated identifying number appears on a paper payee statement (including substitute and composite substitute statements) in the Form 1098 series, Form 1099 series, or Form 5498 series for calendar year 2009 or 2010.
For more information please call (888) PRO-1099. Or (866) 444-3559
About 1099 Pro, Inc.
1099 Pro, Inc. ( www.1099pro.com ) is a market-leading provider of
information-reporting Solutions & Services for 1099, W-2 and 1042-S filers. 1099 Pro develops and markets a
comprehensive range of products that enables any size of business or institution to effectively manage and comply
with all 1099, W-2 and 1042-S filing requirements.
1099 Pro is a Microsoft Certified Partner, MBE certified and has received SSAE 16 SOC I Type II certification.