New W-2 and 1099-MISC Filing Deadlines to Have a Significant Impact on Businesses

For filing season 2016, the Internal Revenue Service will test a capability to verify the authenticity of W-2 data as part of a series of steps to combat tax-related ID theft and refund fraud.

In this article, we will look at changes required for 1099s.

This year, you need to be prepared for some new forms and new looks to some old forms.

Hopefully, you followed some of the suggestions we outlined last year to organize your records. If you did, great! This will make filing your tax returns a lot easier this year. It also means that you and your tax advisor can spend more time on tax and financial planning issues for 2011 vs. looking back to 2010.