October 23, 2019

This blog post is provided by: NELCO.

NELCO is a partner with Shelby Systems providing Shelby customers with tax forms and other necessary business forms. Shelby software exports precisely to NELCO forms. ShelbyNext Financials are integrated to enable customers to eFile with the click of a button. Just visit NELCO to order the forms you need.

Ministry Filing

The tax season is approaching and businesses are preparing for the W-2, 1099 & 1095 filing season. Some of the questions that come to mind for businesses are: What forms do we need to file and when? Will I meet all the requirements? Do I use paper forms, use the e-file service, or create a file upload? Use the below infographic to help you get re-acquainted with federal and state requirements.

Nelco, a leader in W-2, 1099 & 1095 forms and technology, stresses the importance of preparing early. Using an authorized resource, like Nelco, for questions, compatible products and information can minimize the stress and research during a busy time.

View Business Filing Requirements Infographic

The Big 3 Forms

The most popular forms are the W-2, 1099-MISC & 1095-C. The W-2 and 1099 are required to be filed to the federal government and most states. The 1095-C is required to be filed to the IRS for tax year 2019 and now two states: Washington DC and New Jersey.

W-2 Forms

  • What: The form employers use to report yearly wage and withholding information for employees.
  • Who: An employee is anyone who performs services for an employer and the employer can control what will be done and how it will be done. (Even employees with freedom of action).
  • File To: SSA & Employees.
  • E-file Threshold: 250 or more forms.
  • Deadline Paper, E-file and uploads – January 31, 2020.

1099-MISC Forms

  • What: The form businesses use to report miscellaneous income. (e.g. contract or freelance worker whom you paid at least $600 during the year, as well as fees, royalties, commissions and rental income).
  • Who: An individual is considered an independent contractor if the payer has the right to control or direct only the result of the work and not how it will be done.
  • File To: IRS & Recipients.
  • E-file Threshold: 250 or more forms.
  • Deadlline: Paper, E-file and uploads – January 31, 2020.

1095-C Forms

  • What: The form employers use to report health coverage for employees (1095-B for self-insured employers with fewer than 50 full-time employees).
  • Who: Full-time employees are defined as those who worked an average of at least 30 hours per week or 130 service hours in a calendar month.
  • File To: IRS & Employees.
  • E-file Threshold: 250 or more forms.
  • Deadlline: Paper – February 28, 2020; E-file – March 31, 2020

Other Forms

There are other forms you may be required to file, such as 1099-DIV, 1099-INT, or 1099-R to name a few. To see information on forms and deadlines, visit IRS.gov or NelcoSolutions.com/Resources.

Don’t wait until the last minute!

If you choose to print your own forms, then it is time to order those forms. Just click here to go online and order the forms you need.

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