Payroll and 1099 updates are scheduled to be released the week of 12/21/2015. Since W2s and 1099s are not due until the end of January, you do have some time to apply these updates. Like last year, we are focusing all the year-end updates through one person, Michael Coman so he gets very good at the task. If you would like to schedule Michael Coman to apply the updates for you or to give you instructions on how to download the files, call or e-mail Michael at 614-568-2108 or firstname.lastname@example.org.
Here are the major changes on 1099s and W2s this year:
These year-end updates include the following changes.
Accounts Payable 1099s
- 1099-MISC Form Changes
- FATCA filing requirement – Foreign tax paid is no longer used to report foreign tax paid on payments. The form layout remains the same. However, Box 11 is now dimmed and no longer used.
- Filing 1099 Forms: You can file 1099 forms electronically or on paper. For more information, see “Filing Information Returns Electronically (FIRE)” on page 15.
- 1099 Electronic File Changes
- Payer “B” Record Changes:
- Box FATCA filing Requirement – Added field position 548. 1 if checked, space if not checked.
- No changes were required for the layout of the W-2 form or the W-3 form.
- Filing W-2 Forms: You can file W-2 forms electronically or on paper. For more information about filing electronically, see “Business Services Online (BSO)” on page 15.
- W-2 Electronic File Changes
- RA Submitter Record Changes:
- Location Address in positions 274 – 295 is no longer a required entry field
If you have any questions on Dynamics SL, AccuNet, integrations, or process improvements, please contact Michael Milligan, 614-568-2119 or email@example.com.