Due to a provision in the Consolidated Appropriations Act passed by Congress, the filing deadlines for employer copies of Forms W-2/1099-MISC have changed.
Starting in tax year 2016, the deadline for filing Forms W-2 to the Social Security Administration and 1099-MISC to the Internal Revenue Service will be January 31, 2017 rather than February 28th as it has been in the past. This new deadline is for all employer's W-2 and 1099-MISC returns, both electronic and paper. Additionally, the state of Oklahoma is no longer accepting paper returns starting with the 2016 filing year. ALL forms W-2 and 1099-MISC must be filed electronically with the state of Oklahoma.
Due to identity theft concerns, there are additional processing and filing requirements for preparers of 1099s and W-2s at both the state and federal levels. If DP Financial & Tax, Inc. prepares your W-2 or 1099-MISC, all information must be in our office NO LATER THAN JANUARY 20th, 2017. The IRS is stressing that there will be no grace for late filings, and that penalties and interest are highly likely.
If you are unable to meet the January 20th deadline, additional fees for preparing and filing your 1099s and W-2s with DP Financial will occur due to the complexity of the new processes and requirements for our preparers. If you have any questions, please call our office at 918.392.7879.
Surviving the Holiday Shopping Season without losing your JOY
Only a few weeks left before all the presents are under the tree and the house is full of family, friends and food once again. If you’re not ready, maybe these helpful ideas will spur you on to quick success so that you can relax and enjoy the weather, hot chocolate by the fire, and maybe sing a few carols.
Don’t forget anyone! - You may make a list of the people you need to purchase gifts for but if you frequently forget those who may receive holiday tips, like the babysitter, mail carrier, etc. you’re not alone. Adding them to your list ahead of time allows you to properly budget to cover everyone and will eliminate the stress of remembering at the last minute.
Price-Match - While on your shopping trips, use your smart phone to search for better prices on an item you want to purchase. Many times retailers will price match and you can save money on the items on the spot.
Gift Experiences - Think about giving an experience instead of a gift. This could range from a night at a Bed & Breakfast, to a basket with popcorn, candy, DVDs, and a bottle of Pepsi for a family movie night. Friends and family members with children may appreciate an offer to babysit rather than a gift. Others in your circle may enjoy a night at a dinner theater, a concert, or simply a nice romantic dinner out.
Stress-Reliever - Coloring is becoming a favorable adult pastime – purchase a book and colored pencils for a friend and one for yourself, to relieve the stress of your shopping adventure.
Give personally - Consider using your skills to make a personalized gift for those on your list. Many times the elder people on your list prefer a personalized gift far more than a store bought one. Things like homemade pickles, handcrafted stationary, personalized tote bags, etc. make wonderful gifts for family members, neighbors, teachers, and many others.
Turn the kids loose - Include the kids in the shopping. There is the potential for this to add to your stress, but if the younger ones are given some cash and a person to buy for, it helps them feel more like a participant in the giving instead of just a receiver. It also adds to their joy when giving the gift, not to mention the reaction of the person receiving knowing the little ones have played a part. Even if it’s a Hot Wheels truck that looks like Gramps’ truck, I’m sure that Gramps will find it amusing and heart-warming.
Free Time - Often time’s retailers have charities offering to gift wrap packages for a small fee. Sometimes it can seem lazy or frivolous to pay someone else to wrap your gifts. However, the time it will save you at home when you are trying to prepare for a trip, or family coming over, is more valuable than you may realize; and you are supporting a good cause.
Finally, as you prepare to face the crowds, take a whiff of citrus. That’s right. Researchers have found that certain citrus fragrances boost feelings of well-being and alleviate stress by upping levels of Norepinephrine, a hormone that affects moods.
Happy Gift Finding!
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