Welcome, ExpressIRSFormssIRSForms users! This is the last January blog we have time for now that the first month of the 2015 filing season is drawing to a close. So what does that mean for the typical 1099, W-2, or ACA form filer?
For the Rest of January
Before January is completely behind us, make sure you’ve sent out your recipient forms for your 1099s and W-2s. The deadline to have these forms to your recipients is next Monday, February 1 (since January 31 is a Sunday). It’s a common misconception that your recipient forms only have to be postmarked by the deadline. But according to the IRS’s rules and regulations, you can be fined any time after the January 31 deadline (or, in this case, February 1) if a payee reports that they haven’t received their forms.
That’s why we’re recommending sending out your recipient forms by tomorrow or Friday (if you’re mailing them) to ensure they receive them by Monday.
Coming Up In February
During the month of February, there’s not much to do unless you’re either a) paper filing or b) getting a jump start on other forms due in March.
If you’re paper filing, you’ll need to have your 1099s and W-2s prepared and sent to the IRS by February 29, 2016. Remember if you have more than 250 of either form, however, that the IRS requires you e-file.
Looking Ahead to March
March 31, 2016 is the e-filing deadline for 2015 tax year 1099s and W-2s. March 31, 2016 is also the recipient deadline for 2015 ACA forms 1095-B and 1095-C. Normally, this deadline will be the same as the 1099 and W-2 recipient deadline, so don’t forget to send those out all at the same time next year.
Another deadline to keep in mind in March that you might not have been aware of is the March 15, 2016 Business Extension Form deadline. Form 7004 can be filed through our sister program, ExpressExtension, by businesses for a 5-6 month extension of time to file their tax returns. This is not an extension of time to pay any taxes owed, but it can get you a little more time to get everything in order to file.
If you need any help over the next two months, we’re here for you! Well, we’re here for you all year long, but we’re especially here for you during tax season. Just give us a call (704-839-2270) or send us a live chat Monday through Friday, 9 a.m. to 6 p.m. EST. Or you can send us an email anytime at support@expressirsforms.com!
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For the Rest of January
Before January is completely behind us, make sure you’ve sent out your recipient forms for your 1099s and W-2s. The deadline to have these forms to your recipients is next Monday, February 1 (since January 31 is a Sunday). It’s a common misconception that your recipient forms only have to be postmarked by the deadline. But according to the IRS’s rules and regulations, you can be fined any time after the January 31 deadline (or, in this case, February 1) if a payee reports that they haven’t received their forms.
That’s why we’re recommending sending out your recipient forms by tomorrow or Friday (if you’re mailing them) to ensure they receive them by Monday.
Coming Up In February
During the month of February, there’s not much to do unless you’re either a) paper filing or b) getting a jump start on other forms due in March.
If you’re paper filing, you’ll need to have your 1099s and W-2s prepared and sent to the IRS by February 29, 2016. Remember if you have more than 250 of either form, however, that the IRS requires you e-file.
Looking Ahead to March
March 31, 2016 is the e-filing deadline for 2015 tax year 1099s and W-2s. March 31, 2016 is also the recipient deadline for 2015 ACA forms 1095-B and 1095-C. Normally, this deadline will be the same as the 1099 and W-2 recipient deadline, so don’t forget to send those out all at the same time next year.
Another deadline to keep in mind in March that you might not have been aware of is the March 15, 2016 Business Extension Form deadline. Form 7004 can be filed through our sister program, ExpressExtension, by businesses for a 5-6 month extension of time to file their tax returns. This is not an extension of time to pay any taxes owed, but it can get you a little more time to get everything in order to file.
If you need any help over the next two months, we’re here for you! Well, we’re here for you all year long, but we’re especially here for you during tax season. Just give us a call (704-839-2270) or send us a live chat Monday through Friday, 9 a.m. to 6 p.m. EST. Or you can send us an email anytime at support@expressirsforms.com!