Posts Tagged "W2s"

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Posted on Jan 15, 2013

*January 15 is the due date for the fourth and final installment of 2012 estimated taxes for individuals. *Individuals need not make the January 15 quarterly estimate for 2012 if they file their 2012 tax return and pay taxes due by January 31. *January 31 is the deadline for employers to provide 2012 W-2s to employees. *Payers must furnish payees with Form 1099s by January 31. The deadline for providing Form 1099-B to customers is February 15. *January 31 is the deadline for employers to file annual federal unemployment tax returns. *The annual limit on tax-free gifts for 2013 increases to $14,000 per donee ($28,000 if your spouse joins in the gift). *The IRA contribution limit for 2013 increases to $5,500 ($6,500 for those 50 and older). *The amount you can put in your 401(k) increases to $17,500 this year ($23,000 for those 50 and older). *The maximum salary deferral for SIMPLEs increases this year to $12,000 ($14,500 for those 50 and older). *The threshold for unearned income a child can have in 2013 without having the kiddie tax apply increases to...

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IRS eases reporting requirement for small businesses

Posted on Sep 14, 2012

The “Affordable Care Act of 2010” requires employers to report the cost of coverage under an employer-sponsored group health plan on the employee’s W-2 for 2012. The IRS is easing this requirement for small companies. Employers issuing fewer than 250 W-2s will not need to include the cost of health care on W-2s for 2012. For these employers, the 2012 reporting is optional. And such reporting will not apply for future years until the IRS publishes guidance giving at least six months of advance notice of any change in the filing...

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