Tax reporting season is often extremely stressful for businesses as accounting departments rush to get all necessary forms to recipients prior to looming deadlines. To help alleviate headaches, Yearli by Greatland offers a simple solution to those businesses who find themselves running up against the annual time crunch.
Yearli by Greatland offers an extended filing deadline, allowing companies to send in forms until 8 p.m. on January 31 with guaranteed deadline compliance.
Businesses with employees or anyone who has contracted for more than $600 in work to a freelancer or subcontractor have until January 31 to provide the appropriate wage and income reporting form – a W-2 or 1099-MISC – to all recipients. Waiting until the last minute to sort through the various IRS reporting requirements can make a tight deadline even more stressful, which is why Yearli provides assistance and solutions to employers needing last-minute help.
Yearli by Greatland, a complete W-2 & 1099 reporting platform, helps businesses file, print and mail W-2 and 1099 forms, and offers an extended reporting deadline for recipient W-2s & 1099s. Yearli offers the most complete federal, state and recipient W-2 and 1099 reporting platform on the market for small to mid-size businesses and professional accountants. With Yearli, organizations can choose the product that most closely meets their W-2 and 1099 filing and support needs. The Yearli W-2 and 1099 reporting platform has three options (Core, Performance, and Desktop) designed to fit any budget or business need.
As was the case last year, filers must send W-2 and 1099-MISC recipient copies and submit to the SSA/IRS by January 31, regardless of method (paper or e-file). In many cases, this is months earlier, increasing workload and stress for filers. To further complicate matters, the new filing deadline for Form 1099-MISC only impacts filers who using Box 7 of the form – for the reporting of nonemployee compensation payments.
Filers should also note that the Affordable Care Act deadline, which was originally January 31, has been extended to March 2. The extension does not mean that businesses should wait longer to file, but rather they should aim to complete all filing at once to ensure on-time reporting to avoid penalties. Greatland, with more than 40 years of IRS and SSA compliance experience, is trying to help businesses quell the confusion.
Only Greatland gives businesses the opportunity to file until 8 p.m. EST on January 31 with guaranteed deadline compliance. This feature offers additional hours of reporting time, and still days later than other online services.