Form 1099 Reporting Requirements

1099 forms are considered by the IRS to be informational returns. These forms are not to report income but to report types of payments that have been made. Companies must file these forms with the IRS as well as providing a copy to the person/s that have received the payments. The recipient of the 1099 … Read more

Minnesota Payroll Taxes- 2010 Minnesota Withholding Computer Formula

The Minnesota department of revenue has released the 2010 Minnesota Withholding Computer Formula. The new formula is effective for wages paid beginning January 1, 2010 (supersedes any formulas before January 1, 2010). Our payroll software automatically calculates Minnesota payroll taxes. A free demo of the software can be downloaded here: Payroll Software Download . If you … Read more

How to Prepare a 1099 for a Contract Worker?

The first step to preparing a 1099 MISC form for a contractor is to determine this is the correct form to be filed. 1099 MISC forms are for services done by someone who is not an employee. The non-employee compensation must amount to $600 or more. The second step is to determine if you will … Read more

Wisconsin DOR Updates Annual W2 Reporting and 1099-MISC Reporting

What’s new for tax year 2009? A provision in the recently enacted 2009 Wisconsin Act 28 provides for a Wisconsin advance EIC payment. This provision is based on the federal advanced EIC. An individual who expects to be eligible to claim the federal advance EIC and is a full-year legal resident of Wisconsin may request … Read more

941 due date for the third quarter of 2009 is October 31 2009

Payroll Mate payroll software reminds employers and payroll tax professionals of the 941 deadline for the third quarter of 2009. Form 941 is due the last day of the month that follows the end of the quarter. 2009 third quarter 941 Form is due October 31, 2009 and includes payroll periods in July, August and … Read more