Small Business Labs
JANUARY 5, 2021
Virtual corporations and related new forms of organizational structures have long been forecast to replace traditional corporate structures. Last week MBO Partners released their annual future of work predictions for the coming year. Obviously, this didn't happen - or at least hasn't happened yet.
BMT Office Administration
MARCH 9, 2022
The IRS has released a new round of FAQs in two fact sheets, both of which clarify the circumstances under which you must provide employees with Forms W-2c if you took the payroll credits for providing them with pandemic-related paid sick or family leave during 2020 and/or 2021. 31, 2021, for leave taken before Sept.
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BMT Office Administration
APRIL 15, 2022
We admit we were thrown for a loop after reading the IRS’ latest fact sheets on reporting pandemic-related paid leave to employees on Form W-2c. 31, 2021 , for leave taken by an employee after March 31, 2021, and before Oct. 31, 2021 , for leave taken by an employee after March 31, 2021, and before Oct.
BMT Office Administration
OCTOBER 6, 2022
However, Payroll teams are busy preparing for a different season — year-end reporting. The e-filing mandate applies to all information returns, including Forms 1099-DIV, which are often filed by Shareholder Services. Send independent contractors Form W-9 to capture their SSNs and addresses. Test your systems for 2022 filing.
BMT Office Administration
JULY 29, 2022
Recently, we discussed Payroll ethics and whether you’d break any ethical rules if you revealed someone’s tax information. 30, 2021 (the end of the federal government’s fiscal year), the IRS Whistleblower Office successfully collected $6.39 You must complete Form 211. And corporate audits often lead to payroll audits.
BMT Office Administration
OCTOBER 27, 2022
The IRS released Forms 1095-C and 1094-C for 2022 healthcare information reporting last week. These forms are required reporting under the Affordable Care Act for employers required to offer health insurance coverage. The instructions are still in draft form , however not much has changed from the 2021 reporting.
BMT Office Administration
APRIL 27, 2022
Your first-quarter Form 941 is due Monday, May 2. So you have two more days to ensure your form is correct (yay!). Ensure the EIN you enter on the form exactly matches the EIN the IRS assigned to your business. You can’t use your Social Security number on Form 941. 1, 2021, complete Line 5a. Use consistent EINs.
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