The Department of Labor announced a final rule on independent contractors in January. The new ruling is expected to make it more difficult to classify workers as independent contractors. It introduces a new standard using a totality-of-the-circumstances analysis of the economic reality test to determine if the worker is in business for themselves. Fair Labor... Read more »
Recent State And Fed Payroll Tax Changes For First Quarter 2024
IRS Issues Standard Mileage Rates For 2024; Mileage Rate Increases To 67 Cents A Mile WASHINGTON — The Internal Revenue Service issued the 2024 optional standard mileage rates to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1st of this year, the standard mileage rates... Read more »
IRS Releases the 2024 Version Of The Final Forms W-4
The IRS released the 2024 Form W-4, Employee’s Withholding Certificate, with few changes. Instructions for using the IRS’s tax withholding estimator when figuring withholding for multiple jobs, which were removed in the 2023 version, have been added back to the form. The amounts in the tax tables for use with the Multiple Jobs Worksheet have... Read more »
New Horizons Ahead: The Same Great Solution You’ve Come to Trust with Even Greater Opportunities Ahead
We have exciting news to share with our valued customers. Aatrix Software has recently been acquired by Sovos, a global provider of tax, compliance, and trust solutions and services. Our two businesses have extensive experience and expertise in helping small and medium-sized businesses navigate the complexity of tax and regulatory compliance. This acquisition will enable... Read more »
What Is A Transmitter Control Code (TCC Number) And Do I Need One To eFile My 1099s With Aatrix eFile?
What Is A Transmitter Control Code (TCC Number)? A Transmitter Control Code (TCC) is a code assigned by the Internal Revenue Service (IRS) to entities that transmit electronic returns or other electronic forms to the IRS. The TCC is part of the Electronic Filing Identification Number (EFIN) system used to identify and track electronic filers.... Read more »
Sovos Acquires Aatrix Software, Expanding Solution and Service Capabilities for SMBs
Acquisition comes amid changing regulatory mandates and thresholds for e-Filing across multiple forms. ATLANTA – January 11, 2024 – Global compliance technology solutions and services provider Sovos announced today it has acquired North Dakota-based Aatrix Software, a leader in payroll tax forms, extending our leadership in compliance with enhanced capabilities across e-filing for 1099 and... Read more »
Preparing To File ACA Reports And Getting Ready For 2024 Rule Changes
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 »
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 »
Payroll Changes For Second Quarter 2023
- Nevada Becomes First State to Enact Earned Wage Access Law - Arkansas Issue Revised Withholding Tables - North Dakota Issue Revised Withholding Tables - Florida Requires Certain Private Employers to Use E-Verify Beginning July 1 - Idaho Revises Withholding Tables, No Retroactive Withholding - Utah Revises Withholding Tables