With the bumped-up deadlines for filing 1099s, W-2s and ACA 1095 forms in 2017, the upcoming tax season will be especially challenging for small businesses and accountants. The tighter timeframe will require careful planning, along with the right resources to complete the filings as quickly and accurately as possible.
The Patient and Affordable Care Act (i.e. ACA) that was signed into law in March 2010 and upheld by the Supreme Court in June 2012 represented unprecedented changes to the health care system. As a result, the IRS released new informational reporting requirements that employers must meet beginning in January 2016. These changes significantly impact how accountants file the new information reporting forms as well as advise their clients on meeting the requirements. To gain a deeper understanding of the new law and the solutions available in the market, we sat down with Susan Drenning, the President of eFile4Biz.com.
According to the IRS Regs, an individual cannot receive a 1099 & W-2 form in the same year. If a client has a leasing company for their payroll, can the company issue a form 1099?