Maryland W-2 Reporting is Easier with AMS
Each year, the IRS requires employers to report employee wage and salary information on Form W-2. Along with personal information, this form also reports the amount of state, federal, and other taxes that are withheld from the year’s paychecks. However, the form is not only important to the IRS, but also to the employees, who […]
Paying the Virginia Household Employer Nanny Tax is Easier with AMS
If you need to understand Virginia household employer withholding obligations, you’re in the right place. Paying a household employer tax, also known as a nanny tax, can be very confusing. It may seem straightforward at first – after all, paying just a few people consistently should be easy, right? – but you’ll need to consider […]
New Filing Rules and Deadlines for State Payroll Forms
A new tax season brings changes to tax codes around the country, often at the state level. Before sitting down to distribute W-2s, 1099s, or complete additional tax paperwork, you’ll want to check with your state’s Department of Revenue or Department of Taxation. This is an important step to see if changes have been made […]
Everything You Should Know about FACTA Form Software
FACTA is the United States’ effort to collect taxes on foreign-held assets. If you have an aggregate value of more than $50,000, which is the reporting threshold, you’ll need to report information about those assets. While this might seem like a very specific process, some businesses may need FACTA form assistance without knowing it. If […]
Form 1099-SA Made Easy with AMS Filing Software
Form 1099-SA is commonly used in certain industries. The document, also known as Distributions From an HSA, Archer MSA, or Medicare Advantage MSA Form, is used to report distributions from one or more of three possible entities. These include: An HSA (health savings account) An Archer MSA (Archer medical savings account), and/or A MA MSA […]
File Form 1099-K with Support from AMS Software
Form 1099-K might appear to be an infrequently used form, but it’s a surprisingly common process for companies working in monetary transactions. Also known as the Payment Card and Third-Party Network Transactions form, 1099-K is used primarily by credit card companies and third-party processors, like Amazon and PayPal. The form reports payment transactions processed for […]
Prepare and File Form 1099-PATR with AMS Software
The 1099-PATR form is used by cooperatives. Also known as the Taxable Distributions Received from Cooperatives form, this version of the 1099 addresses and reports patronage dividends, nonpatronage distributions, and per-unit retain allocations. Only cooperative entities must file Form 1099-PATR. According to the IRS, they must do this for each person to whom they paid […]
Form 1099-OID is Easy to File with AMS Software
Form 1099-OID, also known as the 1099 Original Issue Discount, is used to report income generated from a specific type of interest. Those who need to file this form include the following cases: If the original issue discount includible in gross income is at least $10 For any person for whom you withheld and paid any […]
Get 1099-LTC Filing Software Support with AMS
Form 1099-LTC is an important form for businesses who work in healthcare and eldercare, like nursing homes and urgent care facilities, or financial firms and personal accountants. Additionally, insurance companies that pay long-term care insurance benefits must provide claimants with the 1099-LTC. These businesses and individuals are required to report to the IRS, using form […]
File Form 1099-G with AMS Software
1099-G is a common form used for certain types of government payments. The form has several purposes, but it is most often used to report two types of payment: state or local income tax refunds, credits, or offsets and unemployment compensation. Businesses worrying about this form will typically receive a copy for tax offsets, credits, […]