Information Reporting and Compliance – News you can use

News and Information about 1099 and IRS information reporting

, 1099-NEC to be Reintroduced in 2020

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...

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, Pressure Seal 101

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...

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, What you need to know about GDPR

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...

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, Affordable Care Act Penalties: Letter 226J

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...

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1098-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...

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, Does ACA repeal = No more IRS reporting requirements?

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...

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, IRS Extends the Deadline to Furnish Forms 1095-C & 1095-B

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...

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, Important Changes for Tax Year 2016

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...

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, How do large employer’s plan to comply with ACA requirements?

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,...

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, ACA Reporting and Compliance – getting ready.

ACA Reporting and Compliance – getting ready.

The new reporting requirements that come with the Affordable Care Act are more than some employers would like to deal with alone and in-house.  This upcoming filing year will be the first reporting year...

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