Are you ready for this year’s tax season? As an applicable large employer (ALE), you are required to e-file if you employ 20 or more employees.
Are you familiar with the changes to the tax season?
The IRS has granted an extended deadline to this year’s tax season (not likely to happen again soon). Non-Box 7 1099-MISC IRS forms and ACA forms can be e-filed up to March 31st, 2020.
If recipients don’t electronically access their forms, eFile360 sends the recipient a paper copy (while paper filers need to remember different dates, the IRS recommends e-filing anyway). In order to submit your forms on time, consider an electronic delivery service. With eFile360, you can ensure that your forms are e-filed on-time and accurately.
Employer Correction Requests are also known as “no-match” letters,” and the Social Security Administration (SSA) has begun sending them out to employers whose records have mismatched names and Social Security Number (SSN) combinations. This follows a seven-year hiatus, prompting employers to make sure they are submitting tax forms accurately.
Electronic filing dates to remember:
IRS eFile: March 31st
IRS eFile: March 31st, 2020
E-filing will help to reduce the hassle of tax season. In order to avoid the potential delays and hassles that could be caused by receiving a no-match letter, consider the benefits offered by TIN Checking. Before your forms are submitted, TIN Checking ensures that SSNs and names match. A simple typographical error could land you much more trouble than it’s worth.
If you’re a business that files both electronically and by paper, eFile360 also provides services that can help to streamline and automate how the recipient receives their forms. In addition, it’s important to know which forms you should send.
Let’s talk if you’d like to learn more about how our e-delivery tax solution can help you to meet your deadlines and streamline future tax seasons.