Regulatory Analysis
The Ohio Department of Taxation releases electronic filing specifications for forms W-2 and 1099-R for the 2022 tax year. The due date for filing both W-2 and 1099-K has been changed from March 2, 2022 to January 31, 2023. Additionally, the threshold and limits for Social Security wage base, employer and employee tax rate for […]
Montana has recently published the 2022 Employer Withholding Guide. Montana has added a reporting requirement for Form 1042-S for Foreign Persons U.S. Based Income Subject to Withholding. The form must be filed directly with Montana if there is a withholding amount of $600 or more. It is due to Montana by January 31st. The 1042-S […]
West Virginia has released 1099 and W-2 Electronic Submission Specifications for Tax Year 2022. There are no other changes to either 1099 or W2 specifications when compared to the versions released for Tax Year 2021. To view the complete 1099 Specifications, click here. To view the complete W-2 Specifications, click here.
Maryland has released 2022 W-2 Specifications. Maryland made an important announcement that magnetic media is no longer be an accepted method starting in TY2022 (filing year 2023). Further new penalties are imposed. Employers who fail to file the annual reconciliation electronically for 25 or more W2’s are subject to a $100 fine per violation. Failure to […]
The IRS recently released updated ACA forms, 1094-B: Transmittal of Health Coverage Information Returns, 1095-B: Health Coverage, 1094-C: Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns and 1095-C: Employer-Provided Health Insurance Offer and Coverage Below is a summary of the substantial changes: 1095-B and 1095-C – Instructions regarding individuals who do not have the […]
Rhode Island has announced an extension of it’s insurance mandate filing deadlines. Filers will now need to provide forms 1095-B and -C to recipients by March 1 annually. In addition, the state is extending it’s insurance mandate filings deadline to March 31 annually. These changes align the state’s filing deadlines with those of the federal […]
Arkansas recently published specifications for W-2 and 1099 filing with the state. Besides year updates to 2022, there were no other substantive changes. The due date for filing W-2 and Forms 1099 is January 31, 2023. To view the updated specifications, click here.
Georgia has released it’s 2023 Employer Withholding Tax Guide. The relevant year and withholding due dates have been updated in the guide to reflect accurate dates in 2023. There are no substantial content changes to the Employer Withholding Tax Guide when compared with its previous release in January 2022. Please see the landing page for […]
The IRS has released Publication 1187 for tax year 2022. This document provides electronic specifications for filing Form 1042-S with the IRS. There are no fundamental changes to the electronic specifications themselves, but there are a few notable changes to ancillary information. Filers who have FIRE transmitter control codes (TCCs) that were applied for earlier […]
North Carolina has released its File Layout Specifications for Forms 1099 and 1042-S for tax year 2022. The documents were updated with dates for the 2022 tax year. On the 1099 File Layout Specification, the location for field specification 711-722, “State Income” has changed from Box 17 to Box 18 of 1099-MISC. On both 1099 […]
The State of Pennsylvania is sunsetting its online tax platform known as “e-TIDES” and transitioning to its new “myPATH” portal. There are a couple of changes to the filing process in this change: e-TIDES did not enforce the CSV columns to be in a particular order, but myPATH will only accept files in the order in […]
Kentucky has released its Electronic Submission of 1099 and W-2G specs for tax year 2022. The document was updated with dates for the 2022 tax year. There are no changes to the specifications when compared with the TY 2021 Specifications. To review these specifications in their entirety, please click here to visit the Kentucky Department […]
The Minnesota Department of Revenue recently updated Form W-4MNP, Withholding Certificate for Pension and Annuity Payments. This form is used by distribution recipients to report taxpayer information and exemptions to the payors, who use the information for withholding tax purposes. While the form and payee instructions saw minor updates, the payor instructions saw substantial changes. […]
The Utah State Tax Commission recently published an updated version of Publication 14, Withholding Tax Guide. This publication provides guidance and information for taxpayers relative to withholding tax payment and reporting, along with W-2 and 1099 reporting information. Note that this most recent release is effective as of January 1, 2023; the version effective for […]
The IRS recently released a revision to Publication 1586, Reasonable Cause Regulations and Requirements for Missing and Incorrect Name/TINs. There were minor grammar and punctuation changes as well as updates to revision date and years. Additionally, the following notable changes were made: · Penalty rate tables updated to reflect new rates, including annual inflation adjustments […]
North Carolina recently released a notice which details a temporary reduction in the penalties for late tax payments to the state. According to the notice which was officially released June 30, 2022, the 2021 General Assembly enacted legislation to change the calculation of the penalty from the flat rate of ten percent (10%) to a […]
Illinois recently released updates to both Publication 130 and Publication 131. Respectively, these publications are “Who is Required to Withhold Illinois Income Tax” and “Withholding Income Tax Payment and Filing Requirements,” the two primary withholding tax publications for Illinois. Both publications had several minor stylistic updates. Both Publications have a revision date of 6/22 and […]
The IRS recently released an update to the 2022 Publication 5165. This publication contains the specifications for electronic filing of Federal Affordable Care Act forms in the AIR system. This update for the 2022 filing season is purely cosmetic in nature and contains no actual changes to the substantive information contained within the publication itself. […]