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December 2016 – Volume 20 Issue 4

Calendar On White Background. 31 December.As the end of the calendar year approaches, we know you will be busy preparing and issuing 1099, W2, and ACA 1094/1095 forms.  To ensure all steps are completed, use the Accounts Payable and Payroll End of Calendar Year Checklists accessed in the Help File (or click the links below).

Also, following are a few reminders and tips to help you during the end of calendar year process.

Accounts Payable End of Calendar Year Reminders:

  • Deliver 1099s to recipients by January 31
    • 1099s can be printed and sent to vendors, or emailed to vendors.
  • Submit 1099s to IRS by January 31 – applicable if filing by paper or electronically
    • Must file electronically via the Internet if 250 or more 1099s (same type); however, everyone is encouraged to file electronically to avoid scanning problems – http://fire.irs.gov
    • Must have prior approval from the IRS before submitting a 1099 file electronically via the Internet; complete and submit Form 4419 for application of approval at least 45 days before the due date of the return:  http://www.irs.gov/pub/irs-pdf/f4419.pdf
  • Submitting 1099s to States:
    • Illinois – 1099 information should not be submitted with the state unless the state requests the information.
    • Iowa – 1099 information may be filed electronically with the state by January 31 for Tax Year 2016, but is not required (will be required for Tax Year 2017) – https://tax.iowa.gov/efile-pay
    • Kansas – 1099 information must be filed electronically to the state by February 28 if reporting 51 or more records, or by paper if 50 or less – http://www.ksrevenue.org/kswebtax.html
    • Missouri – 1099 information must be submitted by paper to the state by February 28 for those with totals of $1,200 or higher.
    • Nebraska – 1099 information must be filed electronically to the state by February 1 if reporting more than 50 records, or by paper if less than 50 – https://ndr-efs.ne.gov/revefs/allPages/login.faces
    • North Dakota – 1099 information must be filed electronically (or via electronic media, including CD, flash drive, or emailed) by January 31 if reporting 250 or more records, or by paper if less than 250 – https://apps.nd.gov/tax/tap/_/
  • Use the Adjust 1099 Amounts option, which is found under the Options menu in the Vendor File, to enter an adjustment for a 1099 amount for a vendor, if needed.
  • To add a second name and specify which line the additional name needs to print on the 1099, complete the Additional Recipient Name and Print Location fields on the Miscellaneous tab in the Vendor File.

Payroll End of Calendar Year Reminders for W2s:

  • Deliver W2s to employees by January 31
    • W2s can be printed and distributed to employees, emailed to employees, or made available for employees to access via Web Link.
  • Submit W2s to SSA by January 31 – applicable if filing by paper or electronically
  • Submitting W2s to States:
    • Illinois – W2 information must be submitted electronically to the state by February 15 if reporting 250 or more records – https://www.revenue.state.il.us/app/wtri/
    • Iowa – W2 information must be submitted electronically to the state by January 31 for Tax Year 2016 if reporting 50 or more employees; those with less than 50 employees may file electronically but are not required to do so (will be required for Tax Year 2017) – https://tax.iowa.gov/efile-pay
    • Kansas – W2 information must be filed electronically to the state by February 28 if reporting 51 or more records, or by paper if 50 or less – http://www.ksrevenue.org/kswebtax.html
    • Missouri – W2 information must be submitted by CD or flash drive to the state by February 28 if reporting 250 or more records, or by paper if less than 250.
    • Nebraska – W2 information must be filed electronically to the state by February 1 if reporting more than 50 records, or by paper if less than 50 – https://ndr-efs.ne.gov/revefs/allPages/login.faces
    • North Dakota – W2 information must be filed electronically (or via electronic media, including CD, flash drive, or emailed) by January 31 if reporting 250 or more records, or by paper if less than 250 – https://apps.nd.gov/tax/tap/_/
  • Verify any new employee Social Security Numbers using the SSN Verification Service option, which is found under the Government Reporting menu in Payroll.  We strongly recommend verifying all of your employees Social Security Numbers each year.
  • Complete the Balancing Information option, accessed under the Options or Check Cycle menu in Payroll, to balance the tax formulas for W2s and determine the employees causing variances, if applicable.  Remember, the Balancing Information option can be used with every payroll throughout the year to ensure that employee W2s will balance at year-end.

Payroll End of Calendar Year Reminders for ACA 1094/1095s:

  • Deliver 1095s to employees by March 2 (was extended for Tax Year 2016)
  • Submit 1094/1095s to IRS by March 31 – applicable if filing electronically
    • To submit the 1094/1095s electronically, there is a direct connection to the Internal Revenue Service’s ACA Information Return (AIR) application from within the School Accounting System; this makes the process to file electronically very simple and secure, and does not require any pre-authorization or approval process.
  • For organizations issuing 1095-C forms, utilize the Adjust ACA Employee Offer of Coverage option to quickly complete or edit the data in the Employee Offer of Coverage List on the ACA 1095s screen in the Employee File for a group of employees, or copy the data entered for a prior calendar year for a group of employees.
  • For self-insured organizations only, the information for the coverage dates of the employees (in the Employee ACA Coverage Dates List on the ACA 1095s screen in the Employee File), along with the information for the covered dependents (in the Dependents and Dependent ACA Coverage Dates Lists), can be imported using a file obtained from your third-party administrator.

If desired, recordings of the end of calendar year webinars can be requested from the Training Calendar on our website.