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Reese Henry & Co
New Deadline for W-2 and 1099 Filing
A new filing deadline is in place for 2016 Form W-2’s prepared for employees, as well as Form 1099-Miscellaneous with “Nonemployee Compensation” reported. This filing deadline was changed by the IRS and significantly reduces the amount of time that businesses and individuals have to prepare and file Forms W-2 and 1099-MISC after the end of the year.

Previously, IRS rules required that Forms W-2 and 1099-MISC be provided to the recipient by February 1st of the following year. So, for the 2015 tax year, W-2s and 1099s had to be mailed to recipients by the first of February, 2016. Filing of W-2s with the Social Security Administration and 1099s with the IRS was required by the end of February. However, if the forms were electronically filed (and virtually all of the ones that Reese Henry prepares for clients were electronically filed), the due date for filing with the authorities was not until March 31st.

Beginning in 2017 for the 2016 tax year, Forms W-2 and 1099-MISC are required to be filed with the IRS/Social Security Administration by January 31, 2017. This is up to 60 days earlier than previously required. The deadline for providing the forms to recipients has not changed – they are still required to be issued by February 1, 2017.

If Reese Henry prepares these forms for you, we will need 2016 payroll information and nonemployee compensation information (payments to independent contractors) by January 13th in order to meet this significantly accelerated timetable.

Call us to discuss these issues and any other questions you may have.
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Reese Henry & Company
Phone: 970.925.3771  |  Email: Info@ReeseHenry.com

Aspen Office:
400 East main Street Aspen, CO 81611

Carbondale Office:
0326 Hwy. 133, Suite 200 Carbondale, CO 81623

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