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IRS releases new FAQs on Form W-2c

BMT Office Administration

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. Fact sheet 2022-15. The new FAQ 98a reads like this.

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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. If you’re not quite sure about the differences between a 1099 and a W-2, keep reading to learn which form to send and how to fill out and file them. Form W-2 filing requirements.

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8 tips for completing your first-quarter 941

BMT Office Administration

A valid EIN is required if you’re e-filing. If you paid taxable qualified sick and family leave wages this quarter for leave employees took after March 31, 2020, and before April 1, 2021, complete Lines 5a(i) and 5a(ii). If you’re filing on paper, postmark your envelope by May 2 and send it certified, return receipt requested.

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