E-News November

Thank you does not begin to show our gratitude for the years Barb have given GMS.     Since 1990, when Barb joined the GMS Team, she has worked tirelessly to assist with improving the software, has been one of the biggest advocates for our clients in implementing their suggestions in the software as well as assisting so many clients over the years.  Barb retires after over 32 years with GMS and will be missed more than words can express.

Tax Form Order Inspection

If you have ordered any tax forms from GMS, please be certain to confirm the order confirmation email is correct.  Also, be certain to open the box upon arrival to confirm you have received the correct forms and quantity.

Should you discover a problem, please contact service@gmsactg.com .   Be sure to include your client number in any correspondence.   Thank you!

Please Note!

W2, 1095, 1099 or 1098 forms will not be sent to any clients that ordered forms from GMS who have an outstanding balance for any charges prior to November, 2022.  Tax Forms will be mailed by the third week in December to those clients who have paid their balances due as of 10/31/22 and are printing their own forms.  Those agencies that requested GMS to print forms or prepare electronic files for submission also must not have an overdue balance.

Applying to File IRS Information Returns Electronically

FIRE

All filers must obtain approval from the Internal Revenue Service, Technical Services Operation (TSO), and be assigned a Transmitter Control Code (TCC) prior to electronically filing Forms 1042-S, 1097-BTC, 1098 Series, 1099 Series, 3921, 3922, 5498 Series, 8027, 8955-SSA, and W-2G. Once approval to file electronically has been received, filers shouldn’t reapply each year. There are two exceptions where a filer would need to apply for a new TCC: (1) If the TCC hasn’t been used for two consecutive years; or (2) files were previously transmitted by a service bureau using the service bureau’s TCC and the filer has the computer equipment that’s compatible with TSO and wishes to prepare the files in-house.

Form 4419, Application for Filing Information Returns Electronically (FIRE) must be filed electronically to request the original TCC.

Upon approval, a five-character alpha/numeric Transmitter Control Code (TCC) will be assigned and included in an approval letter. The TCC is used to identify payers/transmitters and to track their files electronically. Only one TCC is required for each transmitter who files Forms 1097-BTC, 1098 Series, 1099 Series, 3921, 3922, 5498 Series, and W-2G for multiple payers. However, if filing Forms 1042-S, 8027, 8955-SSA, or ACA returns (Form 1094-B, Transmittal of Health Coverage Information Returns; Form 1095-B, Health Insurance Coverage; Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns; and Form 1095-C, Employer-Provided Health Insurance Offer and Coverage), a separate TCC is required for each of these types of returns. Filers/transmitters may not electronically file information returns until the application has been approved and a TCC has been assigned. If any information on the Form 4419 changes, filers must notify TSO in writing so the database can be updated. Be sure to include the TCC in all correspondence.

Some service bureaus will transmit files using their TCC, while others will require filers to obtain a TCC of their own. Payers should contact their service bureau for further information.

Filers of information returns may be subject to penalties for failure to file timely, failure to include all or correct information, and failure to file electronically when required. Questions concerning penalty notices should be directed to the address or telephone number printed on the notice.

For general instructions for certain information returns for 2021, refer to https://www.irs.gov/instructions/i1099gi.

For additional information, call the TSO Customer Service Section toll-free at 866-455-7438 or at 304-579-4827 (not toll-free) if using the Telecommunications Device for the Deaf (TDD). Foreign filers may call 304-263-8700 (not toll-free).

SSA

Electronic filers of Form W-2 must contact the Social Security Administration for all information, forms, and publications relating to the filing of Form W-2; visit SSA.gov/employer or call 800-772-6270.

AIR

AIR is the e-file platform used for Affordable Care Act returns. To electronically file ACA information returns, a firm or an organization must submit the ACA Application for TCC. See Affordable Care Act Information Returns (AIR) Program at  https://www.irs.gov/e-file-providers/affordable-care-act-information-returns-air for more information.