The IRS 1099 Magnetic Media package will make your system comply with Federal Government regulations. All in one file, you can send your 1099-PATR, 1099-INT, 1099-DIV & 1099-MISC to the IRS at one time. If you have more than 250 of any one of these different types of 1099’s, you are required by law to file magnetically, either on floppy diskette or electronically.
Electronic filing is becoming more popular with filers, because you know within 2-3 days if your file has been accepted. The 1099 package retrieves the data from the various Accounting modules within the Oakland system.