Information Reporting and Compliance – News you can use
News and Information about 1099 and IRS information reporting
CARES Act and Funding for Students
COVID-19 has impacted all sectors and industries, and education is no exception. On March 27, 2020, CARES, or Coronavirus Aid, Relief, and Economic Security Act, provided federal stimulus aid to the Department of Education...
Read More
1099-NEC to be Reintroduced in 2020
The IRS announced that it will be bringing back form 1099-NEC to report non-employee compensation separate from the 1099-MISC. This form 1099-NEC has been retired since 1983. The change would go into effect for...
Read More
Pressure Seal 101
You may not be familiar with what pressure seal forms are but, the chances are that you have come into contact with them before. Most often pressure sealed forms are used to print and...
Read More
What you need to know about GDPR
Chances are likely that you have heard the acronym GDPR in recent news headlines. But, what exactly is this regulation and how does it impact businesses outside of the European Union? The General Data...
Read More
Affordable Care Act Penalties: Letter 226J
The Affordable Care Act (ACA) filings started in tax year 2015 and the reporting has been ongoing. The applicable large employers (ALE’s) that have been required to file the 1095/1094-C haven’t seen any penalties...
Read More1098-T REPORTING – BOX 1 REPORTING NOT REQUIRED IN TAX YEAR 2017
When the PATH Act of 2015 was introduced the IRS required that colleges and universities report the amounts received instead of amounts billed for qualified tuition and related expenses. However, the IRS met quite...
Read More
Does ACA repeal = No more IRS reporting requirements?
With headlines trending on the repeal of the Affordable Care Act (ACA) a lot of employers are wondering….Will I still have to report employee health coverage to IRS next year? In short the answer...
Read More
IRS Extends the Deadline to Furnish Forms 1095-C & 1095-B
Today on November 18, 2016 the IRS sent out Notice 2016-70 announcing the extension for furnishing information returns 1095-C and 1095-B to recipients. This will be the second year for mandated ACA reporting and...
Read More
Important Changes for Tax Year 2016
You most likely are aware that the implementation of IRS PATH Act (Protecting Americans from Tax Hikes Act) created major changes for 1099-MISC and W-2 reporting for tax year 2016. Most significant is the...
Read More
How do large employer’s plan to comply with ACA requirements?
The Affordable Care Act (ACA) requirements will be enforceable for Applicable Large Employers (ALEs) in the upcoming filing season. For the reportable tax year 2015, employers with 50-99 full-time employees are candidates for Transitional Relief if,...
Read More
Follow us Online