2024 State Reporting Updates | Product

As federal regulations governing 1099 reporting continue to evolve, you can often expect to see corresponding changes in direct state reporting regulations. It's imperative for businesses to remain informed about state reporting updates in all states where they conduct business to avoid audits, fines and other penalties. Key areas of focus include alterations to reporting thresholds and deadlines, updates to filing methods, modifications in participation within the Combined Federal State Filing (CF/SF) program, and any new Direct State Reporting obligations. Additionally, staying current with these state-level system modernizations is essential to ensure compliance in the upcoming reporting year. This session will include a review of 1099 state reporting, key updates impacting the upcoming reporting season and best practices for a successful season.