What You Need To Know About W2s and 1099s

Happy New Year to you all. We are about to embark on the process of producing your company’s W2s and 1099 forms (if applicable) for the 2017 tax year. We will make this as easy as possible.

Payroll Taxes 2017

Form 1099

If you need Pacific Payroll to produce and file your 1099 data (and we do not already have it), please forward the required information as soon as possible. Information needed would be: name, address, tax ID and the amount paid to your contractor. The due date for us to file this data with the IRS has changed and is now January 31st. Last minute 1099 requests will be accepted but I cannot guarantee timely filing if submitted at the 11th hour. 

Health Insurance

At this time if you have any of the following to report for W2 purposes, please do so by January 10th:

  • Employee amounts paid to an HSA
  • Company paid health insurance coverage amounts or details
  • Health coverage paid by company for 2% or greater shareholder

ACA (Affordable Care Act – Obamacare) Reporting

Employer Health Insurance

On December 22, 2017 the Internal Revenue Service announced an ACA filing deadline extension. Specifically, this extends the due date for furnishing to individuals the 2017 Form 1095-B, Health Coverage, and the 2017 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2018, to March 2, 2018.

  • ACA Reporting is still required for 2017
  • The good faith transition relief has been extended for 2017
  • The ACA Reporting requirements for 2017 have not changed

W2 Delivery & W2 Forms

If you have any special W2 delivery requests please let us know. Options include:

  • Batch delivery to your business location. If possible, we will send W2s with a regular payroll package.
  • Direct US Mail to employees (active or inactive)
  • Client pick-up at Pacific Payroll’s office (Laguna Hills)

The deadline to file W2 data with the Social Security Administration has changed and is now January 31st. This means if we need to change any W2 data for any reason after January 31st a W2C will be required. Keep in mind we will be uploading official data several days in advance to account for any system delays or last minute issues. Printing of forms will begin on January 8th and is expected to last until January 19th.

We’re Here to Help

If you happen to have missing SSN’s and addresses for anybody paid in 2017 we will be notifying you in the next few days. Please be diligent in supplying the requested information as we cannot upload your company information to the State without this information. When these items are missing, it is a manual entry to get your tax information filed electronically.

Should you have ANY questions on these or other topics, please reach out to myself, David or Jeanette and we will be happy to assist you.

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