The nation-wide shortage of accountants has been a hot topic since 2018 analysts noted that current graduation rates of accountants is likely to fall substantially short of the over 90,000 new accounting jobs anticipated by 2028.
Update on IRS Form 941 Changes Effective Immediately
Details of the IRS Form 941 changes for third quarter filing 2020
Aatrix continues to monitor the changes to state and fed payroll reports and payments due to new legislation or executive orders.
The IRS decided to create a separate form to report the Box 7 revenue. Form 1099-NEC is not a replacement for Form 1099-MISC. Form 1099-NEC is only replacing the use of Form 1099-MISC for reporting independent contractor payments.