BMT Office Administration
OCTOBER 6, 2022
However, Payroll teams are busy preparing for a different season — year-end reporting. Even though time is ticking down, it would be prudent to act as if the IRS will issue these regs in time for 2023 filing. Send independent contractors Form W-9 to capture their SSNs and addresses. Test your systems for 2022 filing.
BMT Office Administration
AUGUST 18, 2023
These filers should notify the IRS that they qualify for a religious exemption in advance of filing returns and other documents by filing a Form 8508. After filing Form 8508, filers who qualify for a religious exemption should file returns and other documents on paper. 42-007 , Specifications for Filing Forms W-2 Electronically (EFW2).
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BMT Office Administration
NOVEMBER 16, 2022
While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. A 1099 is a form used to report non- employee compensation. What is a W-2?
Success
MARCH 9, 2023
He told SUCCESS that, “in 20 years, he expects there will be dozens of what he calls ‘world-class, game-changing companies’ that were formed in the aftermath of 2020.” That feeling of how are you going to make payroll? This article originally appeared in the March/April 2023 issue of SUCCESS magazine.
BMT Office Administration
DECEMBER 6, 2023
You can print these forms and furnish them to employees. Downside: Keying in information on more than a handful of forms, let alone 50 forms, is a recipe for mistakes. You file Form 8508 with the IRS to request a waiver from e-filing the current year’s information returns (including 1099s).
BMT Office Administration
JUNE 26, 2023
In fact, ROBS is currently the most popular form of business financing in 2023. Businesses have to incur lots of expenditures just to operate, including payroll , acquiring assets like vehicles & real estate, and day-to-day expenses (like a restaurant maintaining their inventory of condiments, food ingredients, and beverages).
BMT Office Administration
APRIL 7, 2022
The Taxpayer Advocate Services’ (TAS) solution is to issue a Taxpayer Advocate Directive giving the IRS 45 days to work with the tax software industry to develop a plan to implement 2-D barcodes on self-prepared 1040s for the 2023 filing season. Barcodes don’t yet exist for Forms 941, 940, 1120, or 1099. Does the TAS have this power?
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