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Here is a photo from Gwen's wedding yesterday.

https://www.nbcnews.com/news/us-news/fbi-agents-raid-home-ceo-connected-payroll-processing-fraud-n1055591

I never entered a single one. It was never required.

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

Now that anyone can create and print anything, any item not under jurat is barely worth the paper it is printed on. Since the employer filings with SSA are under jurat, and are filed before returns are processed, there is a fair chance of catching mismatches, misentries, and plain fraud.

Ugly situation, but should end up teaching employers and employees a few hard truths. It makes Abagnale's suggestions very worth revisiting. We should all revisit our banking choices, as there are very easy to manage things we can do to protect our own positions.

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.

The codes were optional. I was not privvy to the entire process, but my cynical hat impression was it was from the big PR processors wanted to try to better insulate themselves from fraud. IIRC, it was announced shortly after it became known that there were a large number of fraudulent filings using certain software. Employers having to file W2's before the individual returns get processed is a more secure method than a made up code which likely could have been reverse engineered.

They won't be missed!

Problem Resolved: My client finally went back to the Credit Union who had issued the personal loan for the truck. The Credit Union made a business loan to the Corporation which paid off the personal loan. Then my client transferred the title from himself to the Corporation. Big Sigh - I was really not looking forward to dealing with this mess !

I liked the old schedule. I'd send them out. Then get the calls about I Moved, Changed My Name When I Got Married or... But, still had time to correct the government file before sending. But I see their point. And, I hated those teeny, tiny verification codes that are only on one copy, so I miss them or the client didn't even give me the copy with the code. Good riddance.

This has been in place now for 3 years.

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.