Are you ready to file W-2’s and 1099’s by the new deadline?

By October 31, 2016Procedures

Upcoming changes – Deadline to file 1099’s and W-2’s

Did you know that beginning with 2016 forms, the employees must file by a new deadline?
W2’s is to be filed by January 31, 2017 – e-file, mail, employee copy, agency copy… Regardless! The forms are now due by January 31, 2017. Simple as that!
Deadline to file 1099’s is changing as well, but not for all filings. If your business will be filling a 1099’s and reporting amounts in BOX 7 (Nonemployee compensation) – the new deadline is also January 31, 2017 – -e-filing, mailing, recipient – deadline for all is January 31, 2017. However, 1099’s with no Box 7 reporting are still due by February 28, 2017 by mail, or March 31, 2017 by e-filing

Solution:

– Have your books updated and completed by the end of the year, and be ready for the deadline in January 2017. It’s always a good idea to update the financials on monthly basis. By updating the books on the regular basis, you will have a way better understanding of your business performance and can plan your future success.
– Use payroll service. We highly recommend Gusto. With a very reasonable monthly fee your forms will be distributed and filed on time. No need to stress.

 

Intuit published and article on this subject :

Beginning 2017 IRS changes W-2 & 1099 filing deadlines

 

Tax season is upon us! Let’s get ready!

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