Important 2023 ACA State Requirements (TY 2022)

ACA State Requirements

ACA reporting can be a challenging process on it is own, but with the addition of ACA State Requirements and Individual Mandates, the ACA filing process has only grown in complexity. What is an Individual Mandate? The Individual Mandate is an ACA provision that requires individual to purchase certain coverage, unless they’re eligible for an … Read more

Prepare Form 1099-NEC for IRS Reporting

Working beside laptop - Prepare Form 1099-NEC

Once you are ready to begin your tax filing, you must gather the required information to prepare Form 1099-NEC. This includes information for the business, or payer, and recipient, or payee, as well as the amounts paid to the recipient. Form 1099-NEC is used to report nonemployee compensation amounts to the IRS. A nonemployee is … Read more

Prepare Form 1099-MISC for IRS Reporting

Prepare Form 1099-MISC For IRS Reporting - four stacks of paperwork

Once you are ready to begin your tax filing, you must gather the required information to prepare Form 1099-MISC. This includes information for the business, or payer, and recipient, or payee, as well as the amounts paid to the recipient. Form 1099-MISC, Miscellaneous Information, is used to report various types of miscellaneous income, such as … Read more

Form 1095-C Codes Guidance – Master Code Series 1 & 2

typing

Perhaps the most intimidating (and challenging) part of Form 1095-C codes for new filers is determining what they mean and how to use them for Box 14 and 16 of the 1095-C. The use of short 1 digit, 1 letter codes to express coverage, full-time/part-time status, and affordability is cryptic at best, so we’ve compiled … Read more

Combined Federal/State Filing Program – Comprehensive List TY 2021

combined federal/state filing program - minnesota wisconsin

In addition to IRS filing requirements, many states have Form 1099 Requirements as well. The Combined Federal/State Filing (CF/SF) Program was created and implemented to make filing certain information returns easier and simpler for the filer. What is the Combined Federal/State Filing Program? The CF/SF program was established to simplify information returns filing for payers. … Read more