September 1, 2016
Consider this blog post as early notice that the date by which employers must file their W-2s and 1099s with the Social Security Administration (SSA) and IRS will change to January 31 in 2017.
Previously, W-2s and 1099s were not due to governmental agencies until March 31, so this new deadline will significantly reduce the window for making any necessary changes. These forms are still due to the recipient by January 31.
In order to meet the new deadline, it is important to keep your payroll and employee information as up to date as possible. Please keep in mind that if our firm will be filing your W-2 and 1099 forms, we will need your data in a timely manner in January. Additionally, if you are notified of any incorrect information contained on these forms, it will need to be corrected right away.
The new filing deadline for W-2s and 1099s represents a significant change and makes it imperative that payroll and employee information is accurate and up to date. If you have any questions about this information, please contact our office.
The combination of running a business and your life and preparing for tax time can drive some people into a slight panic. But no need to get stressed if you are prepared. Now is the time to start organizing all documents required to file your tax return.
Like the old paraphrased saying goes: In this world, two things are certain—death and taxes. The recent federal tax overhaul changed a lot of rules, so it’s as important as ever to understand your tax obligations, including those on Social Security benefits.
Unfortunately, cyber scammers never take a vacation. In fact, the IRS has issued a warning of a surge in fraudulent emails that bait potential phishing victims with fake tax transcripts. Links within these emails lead recipients to documents containing the well-known malware, Emotet.