Remove Forms Remove Payroll Remove Report
article thumbnail

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. These incentives are fully taxable and are subject to W-2 reporting.

Payroll 52
article thumbnail

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. The e-filing mandate applies to all information returns, including Forms 1099-DIV, which are often filed by Shareholder Services. You can be penalized for filing W-2s, 1099s, and 1095s on which you report incorrect Social Security numbers.

Payroll 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Surge in Remote Work Fuels Cross-Metro Employment Boom

Allwork

ADP payroll data shows that since the onset of the COVID-19 pandemic, the share of “cross-metro” remote workers employed at large firms in the U.S. Workers at a satellite office reporting to a manager at headquarters could fall in this category, for example, as could a local store or factory manager reporting into the regional center.

Payroll 248
article thumbnail

IRS update: digital communication and payroll

BMT Office Administration

It’s more challenging with business and payroll returns, because of the power of attorney; the IRS is beginning a POA initiative, he added. Zoom in for the payroll picture The IRS calls withholding voluntary, although your employees may beg to differ. Payroll is compliance-oriented; there’s very little wiggle room to be creative.

Payroll 52
article thumbnail

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
article thumbnail

IRS poised to allow e-filing of Form 941-X

BMT Office Administration

The IRS and the National Taxpayer Advocate have been going at each other hammer and tongs over the mountains of paper forms the agency still processes. Earlier this year, it kicked off a new scanning process for Form 940. The IRS’ paperless initiative takes this one step beyond scanning payroll returns.

Forms 52
article thumbnail

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. 30, 2021.

Forms 52