What options do you have for 1099-S filing? Upon request, Standard will help with the setup and processing of your Standard Conveyancer data to satisfy IRS magnetic filing requirements. This procedure allows you to send your 1099S data to the IRS on a floppy disk, without having to hand-type IRS copies.

If your firm distributed 250 or more seller 1099S forms, you are required to file them magnetically or electronically. If your firm distributed fewer than 250 seller 1099S forms, you have the option of filing magnetically or with paper forms. If you have only a few seller 1099S forms, a Standard Conveyancer report can be produced that prints all of the information you need to hand-type IRS forms, eliminating the need to sort through all your SC closing files.

How does magnetic filing work? A technician will download your Standard Conveyancer data remotely from your office to ours. Using an IRS-approved software package, we create and deliver Error and Master Reports to you for review. It is important that your data be complete and accurate before it is downloaded to our office. Entering seller tax ID numbers and forwarding addresses (or making sure sellers are marked as exempt from filing at closing) will help ensure your data is complete.

Upon receipt of the completed authorization and payment, Standard Solutions will prepare your IRS-ready materials. The completed disk, label and forms package is returned to your office, ready for delivery!

In order to file magnetically, you must have an IRS-assigned transmittal number. If you don't have a number and you would like to file magnetically, you need to complete and file with the IRS Form 4419 (Application for Filing Information Returns Magnetically). We can provide you with a copy of this form. If you filed magnetically in previous years, you may continue to use the same transmittal number.

Due to the critical nature of the task and IRS-imposed deadlines, it is necessary for your firm to act as quickly as possible to ensure a timely and compliant magnetic filing. Year-End Processing services are available to all Standard Conveyancer clients with a current Support Plan and clear account balance (fees must be paid in full through December 31, 2002, leaving a zero account balance).

Standard's Year-end Processing ("YEP") service is limited. Don't delay; sign up today (first come, first serve)! Please direct service inquiries to your YEP solution expert, Tina West, Senior Support and Services Specialist, at Tina@StanSolu.com. YEP orders or billing questions should go to Chris Manganis, Staff Accountant, at Chris@StanSolu.com.

Standard Solutions is here to help you fulfill your year-end requirements quickly, efficiently and economically. As usual, we're here to help you!

IRS Due Dates: Recipient Forms must be postmarked to all sellers by January 31, 2003.
Magnetic Filing must be postmarked to the IRS by February 28, 2003.

Standard Solutions' Year-End Processing Solution ("YEP")

The YEP Fee is $350.00 for clients who sign up on or before December 20, 2002.
The YEP Fee increases to $500.00 for clients who sign up after December 20, 2002.

What is included in the initial YEP fee:

• Includes two hours of services rendered by a Standard Solutions technician.
  
• Includes telephone calls and modem time (excluding line charges), review of data with client, assistance with edits, printing of reports, data corrections, zip code entries, etc...
  
• Includes one Error Report and one Master Report for your review and approval before the diskette is created.
  
• Includes a 3.5" floppy disk containing your 1099S magnetic filing information.
  
• Includes IRS Forms: 5064-disk label, 4801 mailing label, and 4802/4804 transmittal forms.
  
• Includes United States Postal Service first-class postage.

YEP additional services available, and applicable fees:

• Services will be provided at $65.00 per hour at thirty-minute increments for any time required in addition to the initial two hours.
  
• If additional disks, labels, forms (these come as a set) or reports are necessary for corrections, or requested for your records, they will be provided for $50.00, plus any applicable hourly fees.
  
• The hourly service fee of $65.00 increases to $95.00 per hour for services rendered beyond the February 28, 2003 IRS-imposed deadline.
• Courier, or outside delivery expenses, including UPS, FedEx, Airborne and others are not included.
  
• Seller 1099S forms are not included in this package offer, but Standard Solutions can help:
  - Seller 1099S forms are $1.00 per form, if process is started before January 11, 2003. Thereafter, they are $2.00 each.
  - Corrected Seller 1099S forms are $3.00 per form.
  - Mailing labels for the Seller 1099S forms are available for $10.00 per page, up to 20 labels per page.
  
• In the case of a firm having multiple locations, the Setup and Processing Fee applies to each office regardless of the number of diskettes filed. Additional setup and processing and reports are required for each separate client office. There will not be an additional fee if the closing files for each office are on the same Standard Conveyancer server.

Call Standard Solutions today at (781) 324-0550 for your Standard Conveyancer 2002 YEP solution!