Form 1042 late breaking IRS change for tax year 2023
In a late breaking change, the IRS released Notice 2024-26 this week that announced a delay in the new requirement to electronically file Form 1042 for 2023.
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News
Form 1042 withholding return now requires electronic filing
Starting with tax year 2023 reporting, filing more than 10 information returns for the calendar year requires filing form 1042 electronically.
Tax Year 2023 Form Update
The good news is that there have been very few notable form changes for tax year 2023. Let’s start with the forms that are not changing this year...
Corrections Guide for 2023 Tax Season
For tax year 2023, the IRS has changed the way in which corrections must be filed.
What is the Combined Federal State Filing Program?
The Combined Federal State Filing (CF/SF) program was created more than 20 years ago by the IRS to help lighten the administrative burden on small businesses reporting 1099 information to states.
Form 1042-S Basics for Small Business
The IRS deadline for both paper and electronic filing for form 1042-S is March 15th, so now is a great time to cover the basics.
IRS Releases Final eFiling Requirements
Key changes that may impact your organization’s tax filing processes.
IRS Delays 1099-K Reporting Threshold Changes until 2023
The IRS issued Notice 2023-10, delaying the implementation of the 1099-K reporting threshold and transaction limit change until 2023.
2022 Be in the Know Newsletter
Big changes are happening this tax season and Sovos 1099 Pro wants you to be in the know!
Tax Year 2022 Season Preparation Newsletter
Preparing for the 2022 Tax Reporting Season