Because of accelerated reporting deadlines to the IRS and Social Security Administration in 2017, Mize Houser is requesting that our employer clients report all personal use of company vehicles and other year end fringe benefits by October 15, 2016 for inclusion on the employee’s 2016 Form W-2.
As a reminder, Forms W-2 and 1099-MISC reporting non-employee compensation payments in box 7, are now due to the IRS, the SSA, and the employee/payee no later than January 31, 2017. The January 31 filing deadline to the IRS and SSA is the same whether the employer files these forms on paper or electronically. This is a change from previous years, and extensions of time to file Form W-2 with the IRS and SSA are no longer automatic.
Affordable Care Act IRS Forms (1094-C and 1095-C) are due to the IRS by February 28, 2017 if filing on paper or March 31, 2017 if filing electronically. Forms 1099-MISC reporting payments other than box 7 non-employee compensation have a filing deadline of February 28, 2017 if paper filing or March 31, 2017 if electronically filing. Contact us with any questions about how to prepare for the upcoming deadline.