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Showing content with the highest reputation on 09/28/2019 in Posts

  1. Under "Individuals", please read the section "Election to maximize the investment interest deduction." Keep in mind that the election is irrevocable without consent of IRS. Also keep in mind that unused investment interest expense carries forward. https://www.journalofaccountancy.com/issues/2013/feb/20126851.html
    2 points
  2. Copied from IRS e News: "Early reporting replaces Form W-2 Verification Code – IRS thanks all participants Because of new wage and income reporting requirements, the IRS announced it would discontinue the Form W-2 Verification Code pilot for the 2019 tax year. Federal law now requires employers to submit Forms W-2 by January 31 each year, which helps the IRS combat fraud and identity theft and superseded the need for a verification code. The IRS expresses its appreciation to the many stakeholders, especially the payroll service providers and industry software developers, who joined in the verification code project."
    1 point
  3. I don't know that I ever entered more than 5-6 of those codes. The first year someone on here pointed out we didn't have to and I stopped.
    1 point
  4. No, the employees had to have them by then, but the old filing date with SSA was the end of February and a month after that if e-filing.
    1 point
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