Get the basics of reporting as an employer from start to finish by following easy step by step guides for various forms including ACA, 1099, and W2.
Understanding Schedule B and Its Critical Role in Payroll Tax Compliance Schedule B Form 941 serves as a crucial supplement to your quarterly employment tax return, detailing the specific dates and amounts of your federal tax deposits throughout the quarter. While Schedule B Form 941 reports your total tax liability, Schedule B provides the IRS … Read more
In January 2023, the IRS introduced the Information Returns Intake System (IRIS) to replace the FIRE system. As more filers transition to IRIS, new error types are emerging—one of the most common being TIN validation errors in 1099 e-filing. What causes an IRIS TIN Validation Error? This will happen when the name and TIN submitted … Read more
A C offer, commonly known as an “offer in compromise,” is a program that allows taxpayers to settle their tax debt with the IRS for less than the full amount owed. This option is typically considered when taxpayers are unable to pay their tax liability in full or if doing so would create financial hardship. … Read more
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
Year-end tax reporting can come with a multitude of worries, such as incurring fines and penalties with your ACA, 1099, and W-2 filings. Many of these fines could be avoided with Tax Identification Number (TIN) Matching (TIN Verification). This can be a useful tool that filers don’t take advantage of. What is TIN Verification? TIN … Read more
Form 8809 is a tax form that allows taxpayers to request additional time for filing specific information returns such as 1099, W2, or ACA Forms. After submitting Form 8809, an automatic 30-day extension period is granted. Which form deadlines can I extend using Form 8809 Extension? Form 8809 can be used to extend the following … Read more
Many states have adopted Individual Mandates. Vermont is one of these states. While there are currently no additional requirements for employers, there will be if federal ACA reporting requirements are eliminated. What are the deadlines for Vermont ACA filings? There are currently no additional Vermont ACA reporting requirements. Conclusion Employers must keep ACA state requirements … Read more
DC ACA Filing The District of Columbia requires all District residents to have Minimum Essential Coverage for themselves and dependents or pay a tax penalty. The DC law also requires employers to submit an information return regarding Minimum Essential Coverage to the DC Office of Tax and Revenue. Continue reading to learn more about updates to … Read more
Many states have adopted Individual Mandates. Massachusetts ACA filing is now required for certain employers and insurance providers. Massachusetts Individual Mandate For TY 2024, along with federal requirements, Massachusetts has state regulations that require MA residents to have health coverage that meet certain standards. At the federal level, the coverage is known as Minimum Essential … Read more
Many states have adopted Individual Mandates. New Jersey ACA filing is required for certain employers and insurance providers. Clarifications to New Jersey ACA Requirements The NJ Market Preservation Act requires reporting to verify coverage provided by payers of NJ’s Income Tax. NJ requires employers, insurers, and other coverage providers to: Where New Jersey ACA Requirements … Read more
IRS Penalties can happen for a variety of reasons, including forgetting to file, not filing by the deadline, not furnishing forms, or not offering coverage for ACA filing. IRS Penalties for ACA Forms Both types of ACA filings (B-series and C-series) require that the filer submit a return to the IRS, any applicable states, and … Read more
Rhode Island ACA filing is now required for ACA forms for Tax Year 2024. We know that new requirements can be tricky, so we’ve created this guide to simplify things! Rhode Island ACA Filing Requirements If you are an employer of a Rhode Island resident, or if you provide Minimum Essential Coverage to a Rhode … Read more
Many states have adopted Individual Mandates. California ACA filing is now required for certain employers and insurance providers. California ACA Filing Requirements If you are an employer of a California resident, or if you provide Minimum Essential Coverage (MEC) to a California resident, including spouses and/or other dependents, you must report ACA data to the … Read more
The end of the 2024 tax year means that the 2025 filing season is just around the corner! With our filing guide, you don’t have to spend endless hours laboring over getting your filings prepared and submitted to the IRS. Whether you’re brand new to filing or have been a doing this for a while, … Read more
We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2 data. These templates are identical to the official IRS forms so that you can enter the information just as you would on paper. General Import Spreadsheet Guidelines For more in-depth or specific validation errors, you can … Read more