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5 things you should do now to prepare for year-end payroll reporting

BMT Office Administration

However, Payroll teams are busy preparing for a different season — year-end reporting. Plan for a lower mandatory e-filing threshold. We don’t yet know whether the IRS will issue final regulations dropping the mandatory e-filing threshold down to 100 or more information returns from 250 or more returns. With this in mind: 3.

Payroll 52
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4 important payroll issues to keep an eye on in 2023

BMT Office Administration

Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. 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. This is prescient.

Payroll 52
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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, 2021, and before Oct. 1, 2021, complete Line 5a. 1, 2021, is reported on Line 11d. 1, 2021, is reported on Line 13e. 1, 2021, is reported on Line 13e.

2021 52
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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.

Payroll 52
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Common mistakes made on Forms 1094-C and 1095-C — ACA reporting

BMT Office Administration

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. 28 if you’re filing on paper or March 31 if you’re e-filing. That’s the good news.

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