Today is the deadline for furnishing employees with their W-2s and independent contractors with their 1099-NECs to report 2023 payments. It’s also the date for transmitting copies of W-2s to the Social Security Administration (SSA) and copies of 1099-NECs showing nonemployee compensation to the IRS. If you want to self-file with the IRS instead of using a tax pro, you can use the Information Returns Intake System (IRIS), which lets you file small or large volumes of 1099s without software. To file with SSA, use Business Services Online. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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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.