Time to File Those Year-End Tax Forms!
Also a reminder! The tax tables for 2016 have also been posted, if you didn’t do that update last week you need to do it before you run your first payroll of 2016!
AND….In December, Congress once again voted to retroactively change the Sec 179 and bonus depreciation limits for 2015 and those limits have been updated in the most current release of WolfePak’s Fixed Asset System. If you have booked depreciation for 2015 already, you will need to revisit the new limits to see what, if any, adjustments will need to be made for these retroactive changes.
ACA changes for new reports should be out any day now, definitely this week! Don’t forget, if you are printing the ACA forms for your employees you need to stuff those in with the W-2 forms, because the new ACA forms are landscape and do NOT fit in any current W-2 envelopes. It is best to collate the W-2’s and ACA forms together so the employee will have everything they need in 1 envelope! And…don’t forget to order your new ACA forms to print for your employees AND the IRS!