Employers with more than 50 full-time or equivalent employees must comply with the Affordable Care Act (ACA) requirements. These Applicable Large Employers (ALE) are required to file the ACA Form 1095 annually. As this year’s filings are being prepared, employers should consider five important things when setting up for 2023. The New eFile Threshold Will... Read more »
Month: December 2023
Why TIN Matching/SSN Verification Is Critical To Year-end Compliance
There are two types of taxpayer identification critical to year-end reporting.TIN verification for all 1099s and Social Security verification for W-2s. Mismatched TINs and SSNs are the most common reasons a filing is rejected. This easily corrected issue can require employers to pay the cost of repeated filing efforts and potentially painful fines and penalties.... Read more »
2024 IRS Form 941 Deposit Rules and Schedule
Notice 931 sets the deposit rules and schedule for Form 941 This information is also used for Forms 943, 944, 945, and CT-1. Two Deposit Schedules There are two deposit schedules—monthly or semiweekly—for determining when you deposit social security and Medicare taxes and withheld federal income tax. These schedules tell you when a deposit is... Read more »
