BMT Office Administration
MARCH 9, 2022
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. We don’t have the answer.
BMT Office Administration
APRIL 15, 2022
We admit we were thrown for a loop after reading the IRS’ latest fact sheets on reporting pandemic-related paid leave to employees on Form W-2c. 1, 2021, you need to issue a Form W-2c to correct employees’ 2020 or 2021 W-2s, even though you’re paying these wages in 2022. What Form 941 says. Welcome to the club.
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BMT Office Administration
OCTOBER 6, 2022
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. Send independent contractors Form W-9 to capture their SSNs and addresses. Test your systems for 2022 filing.
BMT Office Administration
OCTOBER 27, 2022
The IRS released Forms 1095-C and 1094-C for 2022 healthcare information reporting last week. These forms are required reporting under the Affordable Care Act for employers required to offer health insurance coverage. The instructions are still in draft form , however not much has changed from the 2021 reporting.
Allwork
JUNE 6, 2022
From Colliers’ 2022 Innovation Summit , we gather that 60% of companies will only need 50% to 70% of their existing office space in the coming three years. After all, commercial real estate is, on average, the second-highest expense for most businesses, only surpassed by payroll. Does this bring with it an opportunity to save costs?
Success
NOVEMBER 10, 2022
I know a rich man who has become such a slave to the habit of economizing, formed when he was trying to get a start in the world, that he has not been able to break away from it. Trying to cut the payroll down to the lowest possible dollar has ruined many a concern. Good Quality Is the First Requisite.
BMT Office Administration
NOVEMBER 16, 2022
Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. Both forms provide end-of-year compensation information that employees and contractors need for tax purposes. A W-2 is a tax form that businesses send to their employees as well as the government. What is a W-2? What is a 1099?
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