What’s this? It’s the Business Services Online (BSO) account with the Social Security Administration. Through this account you can transmit W-2s (2023 forms are due January 31, 2024), verify workers’ Social Security numbers, and more. At the BSO portal, under Employers click on Create Account. Unless you have a third party submit the forms for you (e.g., a payroll company), start the registration process now. It usually takes about 2 weeks for the process to be completed. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
Footer
BOI reporting cont'd. But this isn’t the end of the story. The government filed a notice of appeal with the appellate court, and FinCEN says “deadline stay—voluntary submission only” (https://bit.ly/3ZpKxwU Note: There are cases challenging CTA that are still pending.