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IRS releases e-filing waiver guidance

BMT Office Administration

Final regulations implement the Taxpayer First Act by requiring you to e-file all your information returns—your W-2s, 1099s, 1095s, and other information returns—if you’re filing a combined total of at least 10 returns, beginning with returns filed next year. This is a new standard. Updates will be available in the same way.

Filing 52
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U.S. Unemployment Claims Reach November 2021 Levels

Allwork

As a result, unemployment insurance filings reached their highest levels since November 13, indicating the demand for work is slowing down. . Over the last several months, nonfarm payroll has made strides in recovery, but inflation has caused this trend to cool down. . the lowest reading since May of last year. .

2021 233
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Applying for a W2 e-filing waiver

BMT Office Administration

Today’s inaugural edition is focused on applying for a waiver from filing electronically. Who must file electronically? Final regulations issued earlier this year require you to e-file all your information returns if you’re filing a combination of any 10 information returns. What about those e-filing waivers?

Filing 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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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

While dealing with lots of paperwork doesn’t rank as most HR professionals’ favorite task, proper recordkeeping for employee personnel files is a must for any organization. In addition, if an employee is involuntarily let go, their employee file must be kept for one year following the termination date. Why is that?

Filing 52
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Introducing FedNow: The Fed’s new direct deposit service

BMT Office Administration

You send the payroll file to your bank a few days before payday and your bank sends files through the ACH network to employees’ banks. FedNow You would not want to use same-day settlement for your regular payroll , because some additional cost is involved. You get your file to your bank by 2:45 p.m.

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