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10 myths about business tax reporting

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in Small Business Tax

Now that the holidays are over, we’ve run smack into another hectic season for businesses.

Alert: Greatland Corporation, a leading provider of W-2 and 1099 products for businesses and a valuable resource for Affordable Care Act (ACA) information, publishes an annual list of 10 myths about business tax reporting and the realities.    

“Oftentimes, businesses can get bogged down by incorrect information during reporting season, adding unnecessary confusion that can lead to penalties and fines due to unintentional noncompliance,” Bob Nault, CEO of Greatland says.

“By understanding the deadlines, penalties and changing regulations, especially the new ACA regulations this year, reporting season can suddenly become a lot less stressful,” he says. Following is Greatland’s list for this tax season.

1.  Myth:  ACA reporting and filing of Form 1095 is not required for reporting year 2015.

Reality: Along with the yearly adjustments man...(register to read more)

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