E-NEWS NOVEMBER

Reminder for Tax Season 2024: Register Your ID.me Account for Electronic Filing

As we gear up for Tax Season 2024, it’s essential to stay ahead of electronic filing requirements and the necessity of an ID.me account for secure access to government services. If your organization will be filing more than ten W-2s or needs to submit ACA forms, now is the time to ensure your ID.me credentials are set up and ready to go.

Electronic Filing Mandate for Employers

For the second year running, the Social Security Administration (SSA) mandates that organizations filing more than ten W-2s must do so electronically. Access to the SSA’s Business Services Online (BSO) portal requires an ID.me account for identity verification, enhancing security, and simplifying the filing process.

If you haven’t yet set up your ID.me account, refer to the recorded SSA webinar on BSO Registration and Authentication for step-by-step guidance. Updated registration instructions are also available on the SSA’s Business Services Online (BSO) webpage on SSA.gov.

ACA Information Returns (AIR) Access for 2024

The IRS continues to utilize ID.me credentials to access the Affordable Care Act Information Returns (AIR) portal, where you file 1094 and 1095 forms reporting health insurance coverage under the ACA. You should establish your ID.me credentials well before tax season to avoid delays. Visit the IRS ACA Information Returns page on the IRS website for further details. Remember, a Transmitter Control Code (TCC) is also required to file your ACA returns.

Setting up your ID.me account and applying for a TCC will ensure a smooth, efficient, and compliant filing process this tax season. Don’t forget to register for the Year-End Tax Form Preparations Webinar for more detailed information.

Boost Your Knowledge with Upcoming Webinars

Following the successful RLSS Basics webinar held on October 23rd, we’re thrilled to remind you of the two upcoming sessions designed to further your skills and ensure you’re prepared for the end of the year:

RLSS Advanced on November 20, 2024 and Year-End Tax Form Prep on December 4, 2024.

Upcoming: RLSS Advanced Webinar: November 20, 2024     

If you attended RLSS Basics or have since viewed the on-demand recording (available for purchase for viewing and accessible for 30 days), you’re already off to a great start! Now is the perfect time to build on that foundation with RLSS Advanced Webinar; where We’ll dive deeper into complex scenarios and provide additional tools to streamline your responsibilities.

Upcoming: Year-End Tax Form Preparation Webinar: December 4th, 2024 

Our Year-End Tax Form Prep webinar will equip you with the essential knowledge and tools to navigate the often-daunting process of year-end tax preparation. This session will cover everything from updates on requirements to practical tips on streamlining your tax form preparation process. Now is the perfect time to get a head start on your tax preparation.

Don’t miss these opportunities to enhance your skills and stay ahead of the curve. By joining us on December 4th, you’ll be taking a proactive step to learn everything you need to know to manage your year-end tax form processing confidently and accurately. This is your chance to empower yourself with the knowledge and skills to stay ahead in your Year End Tax form preparations.

As the end of the year approaches, it’s time to get your tax forms in order. We want to remind you to place your orders for tax forms as soon as possible to ensure timely delivery and avoid additional charges.

Key Dates to Remember:

Order Deadline: Please place your orders now to receive your tax forms by December 20, 2024.

Late Orders: Orders for blank forms placed on or after January 1, 2025, will incur a late charge.

Ensuring that you have your tax forms on hand by December 20 will allow you to be well-prepared for the upcoming tax season. We understand the importance of timely and efficient tax form preparation. We are committed to promptly providing you with the necessary forms.

Please place your orders at your earliest convenience to avoid any delays or extra costs. If you have any questions or need assistance with your order, feel free to contact us.

Thank you for your attention, and we look forward to helping you with your tax form needs.

Gear Up for Tax Season with Our Essential e-Filing Supplements

As you prepare for the upcoming tax season, it’s crucial not to overlook the importance of our e-Filing supplements. Designed to simplify the process, reduce errors, and ensure compliance with tax regulations, these tools are indispensable for a smooth filing experience.

e-Filing continues to gain popularity due to its efficiency and convenience. However, to guarantee compliance and accuracy, the proper supplements are essential.

Order Your e-Filing Supplements Today:

• #400 – W-2 Electronic File Reporting

• #425 – ACA 1094-1095 e-File, Supplement

• #330 – Complete 1099’s – Supplement

• #804 – RLSS 1098’s – Supplement

For more information, visit our Accounting and RLSS Supplement Overview.

We want to ensure you know about our upcoming holiday closures as the holiday season approaches. Please take note of the following dates when our offices will be closed:

Veterans Day: November 11

Thanksgiving Day: November 28

Black Friday: November 29

Christmas Eve: December 24

Christmas Day: December 25

New Year’s Day: January 1

These closures are a time for us to honor these significant holidays, and more importantly, to allow our team to spend quality time with their families and recharge. We deeply appreciate your understanding and wish you a joyous and festive holiday season.

If you require any assistance, please remember that we will not be available on these dates. We eagerly look forward to serving you in the new year.

Happy Holidays!

We are excited to announce the release of our latest how-to video, titled “Balance Sheet / Cost Category Setup.” This comprehensive guide is now available for viewing on our Client Resource page.

This video will walk you through the essential steps to effectively set up your balance sheet and cost categories, ensuring your financial records are accurate and well-organized. Whether you’re new to this process or looking for a refresher, this video is an invaluable resource.

Where to Watch: Access the video on the Client Resource page: Client Resource Page

Supporting Documents: To further support your learning, a downloadable document is available alongside the video