Episode Title: IRS Deadline Alert: Wage Statements & 1099s Due January 31st!

Description: Heads up, business owners! The IRS is reminding everyone that wage statements (W-2s) and certain information returns (like 1099-NECs) are due January 31st. Don't get hit with penalties! We break down what you need to file, how to file electronically, and what to do if you need an extension. Listen now to stay compliant!

Show Notes:

• Key Deadline: January 31st for filing wage statements and certain information returns.
• Forms Due:
• Form W-2 (Wage and Tax Statement) and W-3 (Transmittal of Wage and Tax Statements) to the Social Security Administration.
• Form 1099-NEC (Nonemployee Compensation) to the IRS.
• Recipient Copies: Also due January 31st. Check form instructions for specific dates.
• E-Filing: Required for 10+ information returns. Use the IRS's IRIS system for free 1099 e-filing.
• Extensions: Form 8809 for a 30-day extension (not automatic). Extension for furnishing copies to recipients must be requested via fax.
• Penalties: Avoid penalties by filing accurately and on time.
• Resources:
• IRS E-file information returns page
• IRS Information Returns Intake System (IRIS)
• Form 8809, Application for Extension of Time to File Information Returns
• IRS Information Return Penalties page
• IRS Forms, instructions and publications search tool

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