2024 PAYROLL TAX REMINDERS 400 400 SAX LLP - Advisory, Audit and Accounting

2024 PAYROLL TAX REMINDERS

Year-end payroll reporting for 2024 is right around the corner.  To assist you in preparing the items your payroll provider will need to complete your payroll tax returns, we have provided an overview of the most significant reporting requirements to keep in mind.  Please also stay tuned for an email on the payroll tax updates…

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FORM 1099 FILING INFORMATION 400 400 SAX LLP - Advisory, Audit and Accounting

FORM 1099 FILING INFORMATION

The threshold requiring electronic filing applies to any company filing 10 or more total forms of any type.  It is important that employers review and understand the compliance procedures.  Not only will employers face steep penalties for non-compliance, but they will also be required to provide details about the 1099s on their business tax return. …

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TAX ALERT: Preliminary Injunction Against the Corporate Transparency Act 400 400 SAX LLP - Advisory, Audit and Accounting

TAX ALERT: Preliminary Injunction Against the Corporate Transparency Act

On December 3, 2024, the United States District Court for the Eastern District of Texas issued a preliminary injunction against the Corporate Transparency Act (CTA) and its implementing regulations. The CTA, signed into law on January 1, 2021, expanded anti-money laundering laws and introduced new reporting requirements for certain businesses operating in the U.S. Starting…

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healthcare
Managed Care Organizations and Mental Health Care 400 400 SAX LLP - Advisory, Audit and Accounting

Managed Care Organizations and Mental Health Care

In case you missed this must-watch session, our experts explore the significant changes effective January 1, 2025, impacting Medicaid and Children’s Health Insurance Program (CHIP) billing for mental and behavioral health services. Moving forward, billing must be conducted through a Managed Care Organization (MCO), so it’s crucial for patients and providers alike to plan and…

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IRS Ends Automatic Penalties for Late-Filed Foreign Gift Forms 400 400 SAX LLP - Advisory, Audit and Accounting

IRS Ends Automatic Penalties for Late-Filed Foreign Gift Forms

As of October 2024, the IRS is ending automatic penalties for late-filed Form 3520’s in relation to foreign gifts and bequests.  This is not an all-encompassing relief for the form, but specifically Part IV on the Form 3520.  Commissioner Danny Werfel says that they “will now review the reasonable cause consideration statements that are attached…

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Watch the Webinar: The Giving Trends Report and Setting Your Organization Up for Success in 2025 400 400 SAX LLP - Advisory, Audit and Accounting

Watch the Webinar: The Giving Trends Report and Setting Your Organization Up for Success in 2025

Join SAX’s nonprofit experts on October 16 from 10:00 – 11:00 AM EST as they walk you through the top findings from the Giving USA report and provide strategies to help your organization make the best choices about your fundraising efforts and resources.

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SAX 4 MILER Hits $1 Million Milestone in Total Funds Raised for St. Joseph’s Children’s Hospital 150 150 SAX LLP - Advisory, Audit and Accounting

SAX 4 MILER Hits $1 Million Milestone in Total Funds Raised for St. Joseph’s Children’s Hospital

It is with great pride that the SAX 4 MILER, an annual run/walk event supporting the Child Life Department at St. Joseph’s Children’s Hospital in Paterson, NJ, announces that it has achieved an extraordinary milestone – $1 million in total funds raised since its inception in 2012.

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Massachusetts Department of Revenue Amnesty Requests Update SAX LLP - Advisory, Audit and Accounting

Massachusetts Department of Revenue Amnesty Requests Update

The Massachusetts Department of Revenue (“MA DOR”) will waive most penalties for taxpayers who participate in the amnesty program. Amnesty Requests can be processed through the MA DOR Amnesty information web page beginning November 1, 2024.  Taxpayers must file outstanding returns and pay tax and interest owed for the periods covered by the returns (however,…

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SAX LLP - Advisory, Audit and Accounting