Here are some state reporting facts to help you prepare and stay in compliance through the 2022 tax season. You can check your states filing requirements or let an expert, like Nelco, help you with any W-2, 1099 and 1095 questions.
- State E-File Thresholds: States can set their own e-file thresholds for forms W-2, 1099 or 1095, regardless of the federal e-file threshold.
- 1099 Requirements: Many states require Form 1099 to be filed even if there is no state tax withheld.
- State Deadlines: Many states in past years have moved to earlier filing deadlines to follow suit with the federal government. However, W-2, 1099 and 1095 deadlines vary by state and it’s important to file on time to avoid any late fees. To view state e-file deadlines, visit Nelco's deadline calculator >
- State Penalties: Fees for missed deadlines vary by state and range from $1 per statement to $100 per statement for late filings or failure to file. There is typically a maximum limit, that can reach as high as $500,000, for states that have penalties in place.
- Check for Errors: With e-filing, it is less likely you will make mistakes.The system will catch most errors, but it is always good practice to double check for typos and that all important employer and employee information is correct.
Keeping your business in compliance with federal W-2, 1099 and 1095 filing requirements is hard enough. For many businesses, keeping up with state filing requirements is inefficient and can cause added stress. To stay in compliance, you can check your states filing requirements through online resources or use a resource that can take care of meeting requirements for you. One of the best ways to do this is look at your software services. Some businesses use a software that has a filing service built-in or has options they recommend. Reach out to your software provider or contact a company like Nelco, an expert in W-2, 1099 and 1095 reporting, who works with 100s of software companies and businesses to help make filing efficient and simple. Nelco’s completely paperless filing service helps businesses to meet state requirements quickly and accurately, by processing and delivering year-end forms exactly as needed to each state. Additionally, they have experts ready to help answer any filing questions and can even print and mail recipient copies for you. Their filing service is truly all-inclusive.