End of Year and New Year Information

Due Dates

  • The IRS has issued an extension again for employers with at least 50 full-time equivalent employees to furnish 1095-B and 1095-C forms for reporting year 2019 to employees by March 2, 2020
  •  The new filing date takes into account that 2020 is a leap year and that March 1 is a Sunday; the deadlines for providing these forms to the IRS were not changed:
    • February 28, 2020 for paper filers
    • March 31, 2020 for electronic filers
  • Form W-2 must be furnished to employees by January 31, 2020
  • The due date for filing 2019 Forms W-2, W-2AS, W-2CM, W-2GU, W-2VI, W-3, and W-3SS with the SSA is January 31, 2020, whether you file using paper forms or electronically
  • Form 1099 and 1099-MISC must be furnished to workers by January 31, 2020
  • The due date for filing forms 1099 and 1099-MISC is January 31, 2020

Year End/New Year Program Releases

New programs for year end forms and filing as well as any published state and IRS tax changes will be available at the end of December to early January.  Any additional tax changes that are published early January will be available at the end of January to early February. Go to the bottom resource bar and click on Help – OPENRDA Press Releases for program release information and OPENRDA Product Announcements for more information regarding the program changes.

New Year Reminders

Please click this link to access the new year reminders wiki.

Big Changes for the W-4 Form in 2020

The revised W-4 form implements changes made following the 2017 Tax Cuts and Jobs Act, which made major revisions affecting taxpayer withholding. The redesigned Form W-4 no longer uses the concept of withholding allowances, which was previously tied to the amount of the personal exemption. Due to changes in the law, personal exemptions are currently not a central feature of the tax code. All new employees hired in 2020 and any existing employees who want to make changes, must use the new 2020 W-4 form.  

As described by the IRS,  “the new Tax Withholding Estimator makes it easier to enter wages and withholding for each job held by the taxpayer and their spouse, as well as separately entering pensions and other sources of income.  At the end of the process, the tool makes specific withholding recommendations for each job and each spouse and clearly explains what the taxpayer should do next.” The Tax Withholding Estimator link can be provided to employees to help them determine how to complete the new W-4 form.

The IRS has published a sample letter that employers can provide to employees to help them understand the changes and offer assistance as well as links with more information.  The link is included below:

We placed the sample letter into a Word document that will download if you visit this link.

RDA Systems will be making changes to the filing tab in Personnel Demographics and tax calculations to follow the requirements of the new publication and W-4 form.  More information will follow soon. For further information regarding changes as a result of the tax overhaul, please visit https://www.irs.gov.

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