Regulatory Analysis
Arkansas has reduced its W-2 electronic filing threshold from 125 to 75 employees, effective for tax year 2025 returns filed in 2026. Under Senate Bill 503, signed by Governor Sanders on April 14, employers with 75 or more employees will be required to file W-2 forms electronically. Additionally, beginning with tax year 2026, there will […]
At the close of 2024, New Jersey unveiled a plan to modernize its electronic tax systems through a multi-phased implementation of the new NJ Tax Portal. The NJ Tax Portal will serve as a comprehensive, stand-alone application encompassing all tax types once fully rolled out. The state recently provided key details and deadlines for Phase […]
New York recently updated Publication 66 (Electronic Reporting of Form NYS-1 Information). This change is part of an overhaul of New York’s withholding reporting processes. There are significant changes to the guide. References to Publication 83 have been replaced with references to Publication 63 throughout the guide. The address for mailing NYS-1-V (Payment Voucher for […]
Wisconsin recently updated Publication 172 (Annual W-2, W-2C, 1099-R, 1099-MISC, 1099-NEC, 1099-K, and W-2G) Electronic Reporting. Notably, Wisconsin has indicated that it will accept 1099 records transmitted using the new federal Information Return Intake System (IRIS) XML format for tax year 2024 and beyond. IRIS formatted files can be submitted using secure file transfer protocol […]
E-invoicing for B2B transactions is permitted but not yet mandatory in Canada. However, in the last years the Canadian government has been promoting e-invoicing and has introduced certain requirements. In 2021, it set up a task force within the Canadian Revenue Agency (CRA) to study the feasibility of a B2B e-invoicing mandate in Canada. The […]
The IRS recently released the 2023 Publication 1220, which contains electronic filing specifications for forms 1099 and other information returns. There are no changes to the specifications themselves, but filers should be aware of several important additions to the publication. First, information about the new IRIS filing system has been added. To use IRIS, filers […]
The IRS has released Publication 1187, “Specifications for Electronic Filing of Forms 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding.” The document provides electronic filing specifications and directions for Form 1042-S. The publication has the following the changes to electronic filing direction: The IRS now states that the unique form identifier for a record […]
The District of Columbia has released its 2023 Electronic Funds Transfer (EFT) Payment Guide. There have been no changes from the 2022 publication. To view the D.C. 2023 EFT Payment Guide, please click here.
The Department of the Treasury and the Internal Revenue Service (IRS) recently published final regulations updating the electronic filing requirements for specified returns and other documents. These final regulations codify required changes made by the Taxpayer First Act which was signed into law back in 2019. Effective for calendar year 2024 (impacting returns filed after […]
Oregon recently released its W-2 Specifications and 1099 Specifications for tax year 2022. Besides date and minor grammar changes, there were no changes to the specifications. Please see W-2 Specifications here. Please see 1099 Specifications here.
Indiana has published updated W2 and WH3 electronic filing requirements. There have been no changes to W2 filing specifications Indiana has made some additions to W2 and WH3 electronic filing requirements. An extension request to file for WH3 must be made by Jan 31 by submitting Form 8809. All extension requests must be made through […]
Illinois Published 2022 W-2 and W-2C Electronic Transmission Program Guide. Besides year updates and formatting changes, error code descriptions have been updated. There are no other changes. To view the specifications, click here.