Regulatory Analysis
On January 18, the NAIC released the Annual Statement Disclosure Checklists for year-end 2021 reporting. The NAIC provides four different checklists for different statement types: Health, Life/Fraternal, P&C and Title. To view the checklists, go to the Statutory Accounting Principles Working Group’s webpage. Once the page has loaded, click on the “Documents” tab in the […]
Wisconsin recently released a new update to Publication 117, the Guide to Wisconsin Wage Statements and Information Returns. Aside from updating the revision date from September to October of 2021, the only notable change to the publication was the removal of Form W-2G from the list of forms that can be filed electronically in the […]
On December 13, 2021, Massachusetts Governor Charlie Baker signed (in part) Bill H.4269 “An Act Relative to Immediate Covid-19 Recovery Needs” into law. This new legislation, in effect, codifies and make permanent the safe harbor rule for advanced payments of sales and use tax, and room occupancy tax that was set to expire January 1, […]
Illinois recently released an updated transmission guide for 2021 Form W-2 and W-2C filed in 2022. Most changes to the transmission guide are the result of consolidating information from other sources, clarifying information from the previous guide, or updating dates to reflect the new tax year. General Information. • Illinois begins accepting 2021 W-2 and […]
Maine recently released 2021 Electronic Specifications for Forms 1099 and W-2G. The most notable changes include: • Added sections: Due Date (pg. 3) and Forms Required (pg. 4). • Penalty: Any person who is required to file an information return in accordance with 36 M.R.S. §5242 and who fails to do so on or after […]
Nebraska recently updated forms 941N and 501N for tax year 2021. Form 941N is the Nebraska Income Tax Withholding Return, used for employers to report withholding to Nebraska. Form 501N is for Nebraska Monthly Income Tax Withholding Deposit. The most notable changes are below. 941N • Various wording changes • Taxpayers under the ImagiNE Nebraska […]
Nebraska recently released updated versions of its Form W-3N and Amended Form W-3N, the Nebraska Reconciliation of Income Tax Withheld and the form for sending an amended W-3N. Several minor grammatical changes were made this year, but there were a few notable changes to both forms and instructions which are detailed below: • Line 5 […]
Connecticut recently updated instructions for Filing and Paying Taxes Electronically or IP 2021 (5). This publication was previously IP 2020(6). The most notable changes are detailed below. • List of tax types available to file through DRS myconneCT expanded to include everything except those covered by TSC including alcoholic beverages, bottle deposit, public services taxes, […]
Ohio has announced a series of revised requirements for reporting W-2s and 1099s to the state for tax year 2021, reporting in 2022. All filers issuing 10 or more Forms W-2 and/or 1099-R will now be required to remit those forms using the Ohio Business Gateway. Previously, the electronic filing threshold for Forms W-2 and […]
Nebraska recently released the 2022 version of the Nebraska Circular EN. A partial revision of this publication was released in 2020, however this is the first full revision since 2017. The Nebraska Circular EN is the state’s guide on income tax withholding for wages, pensions and annuities, and gambling winnings. The most notable changes are […]
Kansas recently released its filing specifications for the 2021 tax year. These include the EFW2, KW-2 CSV, K-99 IRS 1220, KW-3/KW-3E, and 1099-CSV formats. Of the five sets of specifications, all but the 1099 CSV remained unchanged for the 2021 tax year. For the EFW2, KW-2 CSV, K-99 1220, KW-3/KW-3E specifications, the only change to […]
Description Illinois recently released an updated transmission guide for 2021 Forms W-2G and 1099s Filed in 2022. Most changes to the transmission guide are the result of consolidating information from other sources, clarifying information from the previous guide, or updating dates to reflect the new tax year. General Information. Illinois begins accepting 2021 W-2G and […]
Arkansas has published its W-2 and 1099 specifications for electronic filing with the state. Forms 1099 and W-2 are due to Arkansas by January 31, 2021. For 1099s, electronic media will only be accepted by CD and DVD. Arkansas will no longer accept USBs. Federal Form 1099NEC is now part of the CFS Program for […]
Wisconsin recently released the 2021 version of its Publication 172, the Annual W-2, 1099-R, 1099-MISC, 1099-NEC, and W-2G Electronic Reporting. Few changes were made to the document itself and no changes were made to the actual specifications portion of the publication. The most notable changes are detailed below: • Updated revision from 11/20 to 10/21 […]
Hawaii recently released its 2021 revision of Publication EF-9, the State of Hawaii Bulk Filing System Reporting Agents and Transmitters Handbook. Some very notable changes have been made this year, the most important of which center around submission of bulk withholding payments and W-2/.W-2C submissions. The most notable changes are detailed below: • Section 9, […]
Hawaii recently released its 2021 Publication EF-10, W-2 and W-2C specifications. This year, no substantive changes were made to the specifications, and only a few minor updates were made to the document. These changes are detailed below: • Revision date updated to October 2021 • W-2 due date updated from February 28 to January 31 […]
The IRS recently released Publication 1187 which outlines Specifications for Electronic Filing of Forms 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding. These specifications are used to file 1042-S reports electronically through the IRS FIRE system. The most notable changes are as follows: The due date for forms reporting late distributions made in 2022 […]
The IRS recently released it’s 2021 Forms 1094-B and 1095-B, the Transmittal of Health Coverage Information Returns and the Health Coverage Form required by the Affordable Care Act. There were no major changes to either form this year, excepting the form year was changed on both forms and a couple of minor grammatical changes were […]