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Payroll update: Student loans, free tax filing, and more

BMT Office Administration

You should inform employees of this development. Free File is a collaborative effort between the IRS and commercial tax software firms under which taxpayers with incomes under a certain threshold who file simple returns can file their returns, well … for free. Point your browser here for the full list of agencies.

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What Is a Credit Freeze, and Should I Do It?

Success

As recent data breaches have shown, you likely can’t prevent your personal information from being stolen. When you freeze your credit, it keeps sensitive data in your credit files from being accessed without your permission. If lenders can’t see your credit file, they can’t approve the credit application.

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IRS poised to allow e-filing of Form 941-X

BMT Office Administration

The IRS and the National Taxpayer Advocate have been going at each other hammer and tongs over the mountains of paper forms the agency still processes. What’s ahead for paperless filing You can still file on paper, if you choose. MeF accepts files in the XML format only. MeF accepts files in the XML format only.

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Is Your Workspace a CMRA? Prepare Now For Big Compliance Changes

Allwork

The current Commercial Mail Receiving Agency (CMRA) process is being updated as part of government fraud prevention measures. Under a new regulation published January 12, 2023 , centers will submit client information to a centralized online database rather than rely on paper forms. Background: What are the current rules?

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Want to Reduce Digital Distractions? Brain Coach Jim Kwik Shares Strategies for Better Focus

Success

“When you take nouns and turn them into verbs, it allows you to have agency as opposed to just hoping. Also known as the extrathalamic control modulatory system, this part of the brain filters through the deluge of information we receive every day to determine what’s important and what should be muted. Hope is not a great strategy.”

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Summertime tax scams are going strong

BMT Office Administration

It would be good to inform employees about these scams. This scam, with email subject lines like “Third round of economic impact payments status available,” includes an embedded URL, which redirects you to a phishing website to steal personal information. While some scammers and phishers are using the U.S.

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4 important payroll issues to keep an eye on in 2023

BMT Office Administration

Final e-filing regs. The IRS punted on its final regulations , dropping the mandatory e-filing threshold for information returns for 2021 and 2022 W-2s, 1099s, and 1095s. It’s unlikely it will postpone releasing the final regs for yet another filing season. These regs will scoop up smaller employers into the e-filing net.

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