The IRS TIN Matching system is a free, internet-based tool that allows authorized payers to verify the combination of TIN (Taxpayer Identification Number) and name for payees (recipients) before submitting information returns such as 1099-NEC, 1099-MISC, 1099-INT, 1099-K and more. TIN Matching is very important for tax professionals and businesses filing Forms 1099, as it … Read more
Effective January 1, 2025, Louisiana has a completely new withholding tax formula as part of major tax reform legislation. This reform introduces a flat personal income tax rate of 3%, replacing the previous tiered system that had rates ranging from 1.85% to 4.25%. Additionally, the standard deduction will increase to $12,500 for single filers and … Read more
On December 16, 2024, the IRS released the final federal withholding tax tables for 2025 and the new withholding rules have been implemented inside our 2025 Payroll Mate payroll software. The official IRS Publication 15-T for 2025 includes both “Percentage Method Tables for Automated Payroll Systems,” which is the calculation method used by Payroll Mate, … Read more
What is IRIS? The Information Returns Intake System (IRIS) is a newly launched website by the Internal Revenue Service (IRS) designed to make the process of filing 1099 forms easier and faster. The primary goals of developing IRIS include reducing the number of paper form 1099 submissions, providing a user-friendly 1099 electronic filing option, enhancing … Read more
The 2024 Colorado W2 Electronic Filing Specifications in the CDOR-EFW2 Format are now available on the state department of revenue website by visiting https://co.colorado.gov/ . W2 Mate 2024 software has been updated to incorporate the latest specifications and allow Colorado filers to generate the W2 E-File submissions, ready for upload to Colorado’s “Revenue Online” service. … Read more