Pontem Software is pleased to announce a new feature in the Accounts Payable program in an effort to prevent identity theft. The IRS has provided for masking of the social security number on specific 1099 Forms. Pontem has added a preference to mask the first 5 digits of the SS# on 1099-Misc and 1099-Misc Audit Report along with the Vendor Master List. The masking of the Social Security Number is not required, but is now allowed by the IRS.
Setting the Preference
To take advantage of this preference go to Edit | Adjust Preferences | General and click the check box to uncheck the preference "Show SSNbr on 1099". This will mask the SSN on the reports. Please remember you are responsible to show the SSN on the required 1099 forms. The following list indicates which copies must display the full SSN and which can be masked.
Copy A - IRS (unmasked SSN)
Copy 1 - State, City, Local (unmasked SSN)
Copy B - Recipient Records (masked SSN)
Copy 2 - Recipient State Return (unmasked SSN)
Copy C - Payer Records (masked SSN)
For more information on this option please visit the IRS websit for Internal Revenue Bulletin: 2013-7 February 11, 2013 REG-148873-09 at http://www.irs.gov/irb/2013-07_IRB/ar10.html.