EFile Minnesota 1099 and E-File Minnesota W2

Due to a recent Minnesota law change, the electronic filing thresholds will decrease over the next few years: (1) Tax year 2009 : Efile W-2s and/or Efile 1099s if you have more than 50 forms. ¬† (2) Tax year 2010: File W-2s electronically and/or file 1099s electronically if you have more than 25 forms, and … Read more

1099 Efile: Combined Federal State Filing program enhances Validation Process

The Combined Federal State Filing Program was established to simplify reporting of Information Returns (1099-DIV, 1099-G, 1099-INT, 1099 MISC, 1099-OID, 1099-PATR, 1099-R and 5498) to participating states. Due to increased concerns over proper disclosure of information, the Information Reporting Program is enhancing the validation process of combined federal/state data. Beginning in Tax Year 2009 (Calendar … Read more

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