How to E-File Extensions and Corrections for Your Small Business
If you struggle to get your payroll and employer tax information organized and reported in a timely fashion, you may need to e-file extensions or corrections to get your business square with the IRS. Whether you’re up against a deadline and running out of time or you’ve filed the wrong information or form due to […]
Where Do I Send Corrected 1099 Forms?
For paper form copies, you’ll want to send corrected 1099 forms to the same address as the original copies. Put another way, the easiest and most reliable way to determine where to send corrected forms is to consult the form instructions.
How to Send 1099 Electronically to the IRS
There are three steps you need to take to send 1099 electronically to the IRS: You need to file Form 4419(Application for Filing Information Returns Electronically) to obtain a Transmitter Control Code (TCC). This allows the IRS and Technical Services Operation to approve and verify your electronic filing submissions. Remember that you cannot electronically file any […]
How to Calculate Withholding Tax as an Employer or Employee
Both employees and employers may be interested in how to calculate withholding tax for their paychecks. And while the same basic information and calculations apply, there are very different priorities and planning involved for each party. Long story short, employees are most often concerned with making sure their end-of-year tax returns do not leave them […]
Quickly Get IRS Mailing Addresses for Your Filing Forms
IRS mailing addresses are not hard to find. Generally speaking, you can get the address from the form instructions. Still, you may have had the blank filing forms for weeks or months, while misplacing the original instructions. You may have an unusual filing situation, or you may live in an odd location. Indeed, there are […]
How Many Copies of a 1099 Go to the Recipient?
It can be difficult to know how many copies of 1099 go to recipient. However, the answer is simple: Two copies of Form 1099 are sent to the recipient. Well, okay, it’s a bit more complicated than that. There is a reason why recipients must receive two copies. They must be able to include one […]
When Do I Deposit Payroll Taxes?
If you’re a monthly schedule depositor, you must deposit payroll taxes by the 15th of the following month in which the payroll was made. In other words, all of the payroll tax liabilities that accrued during January must be deposited by February. If you’re a semiweekly schedule depositor, when you deposit payroll taxes depends on […]
Can an Employee Receive a W-2 AND a 1099?
Yes, an employee can receive a W2 and a 1099, but it should be avoided whenever possible. That’s because this type of situation is a red flag and frequently results in a response from the IRS seeking further information. It also takes unusual circumstances for this type of dual filing to be legitimate. In many […]
What Businesses Should Know about an Employment Contract
A written employment contract does not provide license to get around anti-discrimination laws and other types of employment regulations. Moreover, systematic deception and coercion may run afoul of an obligation to act with “good faith and fair dealing.” With this in mind, here are some of things businesses commonly include in these contracts: The terms […]
1099 vs. W-2: Which is Better for Employees and Employers?
A lot of people, employees and employers alike, have questions about 1099 vs. W-2 worker status and which is better for them. As part of our software support for employers, payroll, and For some, the question of 1099 vs W-2, which is better for employees or employers, is an important consideration. As part of our […]