At this time, we have completed processing our client’s W2s and mailed them to the address on file. If you do not receive your year-end package by the end of this week, please let us know. As a reminder, clients with Employee Self Service or MyGo services with us will be able to view W2s online starting January 25th.
W2s/1099 NEC Delivery
What is included in the package?
- W3 – For business tax filing in March/April
- W2 – Employer copy
- W2 – Employee originals (in the envelope)
- If you have contract workers, you will also have a 1099 NEC- Employer copy and 1099 NEC- originals (in the envelope)
GA DOL – Erroneous Emails
The Georgia Department of Labor recently became aware of a system issue resulting in multiple duplicated charge notices erroneously mailed to some employers. If you have been identified as an employer who may have been impacted, please accept our sincerest apology for the inconvenience created by this error. This issue has been resolved to prevent future occurrences.
Partial Unemployment Pay – If you filed for your employees’ ‘Partial Unemployment Claims’ last year, would it be part of their W2?
No. It will not. Generally, federal, state, and local governments issue a Form 1099-G when they pay someone any of the following: unemployment compensation, state or local income tax refunds, credits, or offsets, re-employment trade adjustment assistance payments.
How can my employee receive a 1099-G?
Department of Revenue in each state is issuing 1099-G. Employees that received partial unemployment last year will need to follow the necessary steps to retrieve their 1099-G form.
- Georgia – How to Request a 1099G Electronically (Please share with your employees.)
- For all other states, please visit the State Department of Revenue (DOR) to learn more.
Standard Mileage Rates Decrease
The IRS announced that the business standard mileage rate for transportation expenses beginning January 1, 2021, will be 56 cents per mile.
PPP Loans Second Round is Open
Check with your bank. The second round of PPP loans is now available. Eligibility criteria: Businesses with less than 500 employees are eligible for the PPP through March 31st, 2021, or until allocated funds are disbursed. If you received a PPP loan back in March, you could still be eligible for the second PPP loan as long as the business applying for this second PPP loan can demonstrate at least a 25% reduction in revenue between corresponding quarters in 2019 and 2020. Please check with your CPA for eligibility.
Quote of the day:
Life is like a camera, just focus on what is important.