Import Spreadsheet Format Guidelines for Tax Year 2021

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. 

Continue reading Import Spreadsheet Format Guidelines for Tax Year 2021

Import Spreadsheet Format Guidelines for Tax Year 2020

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. 

Continue reading Import Spreadsheet Format Guidelines for Tax Year 2020

Preparing Form W-2: A Step-by-Step Guide for Tax Year 2020

It is important that you know what information you need before you begin preparing Form W-2. We’ve identified the following 5 key topics that may help you to correctly and timely complete your W-2 filing with our Step-by-Step Guide.

1. Determine Who Must Receive a Form W-2

The IRS instructs that a W-2 form much be completed and filed for each employee who, in the past year, you have made payments to for their services in your trade or business.

2. Gather Information to Prepare Form W-2

Before you begin preparing Form W-2, you will need to gather the tax information for the business(es) and employees you are filing for, including their name, address, tax identification numbers (TINs), and amounts paid to the employees.

3. Check for Accuracy

In order to avoid potential penalties, it is important to take the time to review and verify the information to be reported on your W-2 forms for accuracy before filing and distributing.

Tools such as TINCorrect can help you verify tax identification numbers for payers and employees in advance.

4. File and Distribute

Form W-2 is a multi-part form that requires copies to be distributed to several parties, including the IRS, employee and, if applicable, a state tax department.

5. Deadlines for Form W-2

W-2s must be furnished to employees and filed with the Social Security Administration by February 1, 2021, by electronic or mail filing.