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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. Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. A 1099 is a form used to report non- employee compensation. What is a W-2?

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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

Maintaining payroll compliance is a must for accounting departments, but it’s often easier said than done. That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. From the implementation of SECURE 2.0 The first case, Moore vs. U.S.,

Payroll 52
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Applying for a W2 e-filing waiver

BMT Office Administration

You can print these forms and furnish them to employees. Downside: Keying in information on more than a handful of forms, let alone 50 forms, is a recipe for mistakes. You file Form 8508 with the IRS to request a waiver from e-filing the current year’s information returns (including 1099s).

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