Electric Filing of Payroll Forms & Tax returns...
The IRS has new regulations for who needs to file electronic returns in 2022 and moving forward. In recent years the threshold for having to file all of your business returns was 250 information returns. The following are considered information returns, business tax returns, quarterly and year end payroll returns, W2, 1099, 1098. Starting in 2022 the threshold has been lowered to 100 returns per year. Meaning if you have near 100 employees you need to file all your returns electronically. Starting in years after 2022 the threshold will drop to 10 information returns, so nearly all businesses will need to file all information returns electronically. The regulations are meant as a measure to help the IRS with its current processing issues and backlog. In the end it should be a fairly easy transition for taxpayers
If we complete you quarterly and year end payroll we are already working on e-filing your returns. If you have any questions about these regulations please don't hesitate to reach out.
