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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. The IRS, however, will not process your paper return as it has been—by painstakingly transcribing the figures on your return into a computer.

Forms 52
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IRS update: digital communication and payroll

BMT Office Administration

Information return filers filed about 300,000 to 400,000 1099s through IRIS this past winter. The IRS is just starting the process with the 941s. It’s more challenging with business and payroll returns, because of the power of attorney; the IRS is beginning a POA initiative, he added. How is it going to spend this money?

Payroll 52
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Stay on track with this payroll compliance checklist

BMT Office Administration

Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. However, there is also a lot more that goes into proper payroll processing including a large number of compliance functions and concerns.

Payroll 52
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Is it ever ethical to disclose tax information, and to whom?

BMT Office Administration

Lawyers have a code of ethics running to booklet form and so do doctors (a one-pager) and accountants. The American Payroll Association’s code of ethics includes eight points, but let’s stick to three of them: To strive for perfect compliance, accuracy, and timeliness of all payroll activities. No, according to the IRS.

Payroll 59
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Employee personnel files — what should and shouldn’t be included

BMT Office Administration

Setting up employee personnel files is an important part of the recordkeeping process. These documents tend to be ones containing sensitive or confidential information. For instance, employers cannot include medical information in an employee’s general personnel file due to the Americans with Disabilities Act (ADA).

Filing 121
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IRS releases details on how to withdraw ERC claims

BMT Office Administration

The IRS has kept its promise to provide relief to employers that filed Forms 941-X to claim the pandemic-era employee retention credit for which they aren’t eligible. 14, the day the IRS imposed a moratorium on processing Forms 941-X on which the credit is claimed, but who haven’t yet received their ERCs.

Fax 52
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5 SOP examples for your business

BMT Office Administration

While every employee brings their own special talents and perspectives to their job roles, things can get disorganized when everyone is taking a different approach to completing your company’s core business processes. SOPs are an excellent tool for small business owners looking to take their business process management to the next level.

Payroll 72