June 2019 - Page 3 of 3 - Accel Tax & Business Services

Due Date Change for 2016 W-2 and 1099 Forms

The due date for employers to transmit copies of Forms W-2 and 1099 to the Social Security Administration and IRS has historically been February 28. That is changing. Beginning with the 2016 forms, the due date will now be January 31. IRS says that this is a security measure intended to prevent tax return [...]

2017 Tax Reform: What to Expect

2017 is likely to see significant tax reform. What can we expect? It's too early to say for sure, but Congress and President-elect Trump have given some hints. Here are the top candidates: Elimination of the estate tax. This is nearly guaranteed. What is in question is whether the "step-up in basis" rule will [...]