PinPoint Accounting Services, LLC

01/30/2017

Reminder: Employers Must File Forms W-2 by Jan. 31 This Year

The Internal Revenue Service reminds employers that the due date for filing Forms W-2, the Wage and Tax Statement for their employees for calendar year 2016, is now Jan, 31, 2017.

Also, those who hire contract workers and have to file Form 1099-MISC now must file by Jan. 31.

The new deadline applies whether an employer e-files or files a paper Form W-2. Employers who pay an employee $600 or more for the year must file a Form W-2 for each employee with the Social Security Administration.

The new deadline is part of legislation signed into law at the end of 2015 to combat identity-theft related refund fraud.

01/27/2017

Tax Appointment Checklist

o Personal information -
• Last years income tax if you are a new client
• Name, address, Social Security number and Date of Birth for yourself, spouse and dependents
• Dependent Provider, Name, Address, Tax ID and S.S.N.
• Banking information if Direct Deposit Required

o Income Data Required -
• Wages and/or Unemployment
• Interest and/or Dividend Income
• State/Local income tax refunded
• Social Assistance Income
• Pension/Annuity/Stock or Bond Sales
• Contract/Partnership/Trust/Estate Income
• Gambling/Lottery Winnings and Losses/Prizes/Bonus
• Alimony Income
• Rental Income
• Self Employment/Tips
• Foreign Income

See the complete list on our website http://pinpointaccountingmn.com/resources/tax-forms/

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01/27/2017

Tax Due Dates
2017

January

Tu 31 Individuals: File your tax return if you did not pay your last installment of estimated tax by Jan 17th (see Form 1040-ES)

Tu 31 File Form W-3 with Copy A of all Forms W-2 issued for 2016.

Tu 31 Furnish Forms 1098, 1099 and W-2G to recipients for certain payments during 2016. Furnish Form W-2 to employees who worked for you during 2016.

Tu 31 File Forms 940, 941, 943, 944 and/or 945 if you did not deposit all taxes when due.

02/14/2012

12/01/2011

7 Reasons to E-File this year

1. E-file eliminates the risk of lost paper returns in the MAIL
2. E-file reduces errors on tax returns
3. E-file speeds up refunds.
4. E-file combined with direct deposit will avoid refund problems
5. E-file is easy
6. E-file is fast
7. E-file is safe

The IRS announced today that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks this year that could not be delivered because of mailing address errors.