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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

Are there special reporting requirements? You also need to dig out the employee’s 401(k) beneficiary form—401(k) assets move independently from the employee’s will, so you need to know who the beneficiaries are. Reporting rules Tricky withholding rules lead to tricky reporting rules. What pay is taxable?

Payroll 52
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Final regs drop mandatory e-filing threshold to 10 or more information returns

BMT Office Administration

We’ve been waiting for the IRS to release final regulations on mandatory e-filing of information returns for quite some time. 31 e-filing deadline, we made an educated guess and said it wouldn’t make the same mistake again. Options for small employers: Small employers may never have thought about e-filing.

Filing 52
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3 Ways to Create a Better System for Information Management

All Things Admin

Here’s how you can implement color coding: Physical Files : Use colored folders or labels to differentiate between different projects or document types. I love translucent colored poly pockets combined with colored file folders to create instant visual distinction of what’s waiting for me each day in my priority sorter.

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The 10 Best Goal Setting Apps to Help You Stay on Track

Success

An app can have many exciting features, like monitoring multiple goals, a task manager or to-do lists, access to a personal coach and integration with your calendar or other apps. Look for a goal-setting app that fits your lifestyle and what you need to track. 10 best goal setting apps 1. per month, $29.99 per year or $79.99

Goals 275
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The Admin’s Guide to Organizing Digital Files

Office Dynamics

The Admin’s Guide to Organizing Digital Files By Julie Perrine. Just like papers on your desk can pile up, the same thing can happen with digital files. If you don’t have a filing system to put things where they belong when you save them, the virtual mess can accumulate quite quickly. Setup Your Digital Filing Cabinet.

Filing 100
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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

If the incentive is at most $250, it will qualify as de minimis (meaning you don’t have to report on it). These incentives are fully taxable and are subject to W-2 reporting. This includes income tax returns, Forms 941 and 940, and information returns. You can also fax e-filing waiver requests to 877-477-0575.

Payroll 52
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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