Year-End Tax Reporting Information

Year-End Tax Reporting

Written by Hawkinscpadmin

February 20, 2015

Our updated letter regarding year-end tax reporting information is available below

Exhibits in the Year-End Tax Reporting document include:

  • Guide to Information Returns
  • Payments to Outside Providers or Contractors for Business Purposes
  • Nontaxable Benefits Provided to Employees
  • Payments to Directors
  • Employee Business Expenses and Expense Accounts
  • Record-Keeping for Travel, Entertainment and Meals Expense
  • Record-Keeping and Deductions for Business Vehicles
  • Travel Per Diem Rates for Certain States
  • Reporting Cash Payments Over $10,000
  • Electronic Filing Requirements for Payroll and Information Returns When Over 250 Documents
  • Instructions for Filing Payroll and Information Returns (Paper Filings)
  • Dues Paid to Social Associations and Clubs or for Lobbying Activities
  • Energy Subsidy Payments
  • Taxation and Reporting of Capital Credits from Electric and Telephone Cooperatives
  • Form 1099-A Foreclosures and Abandonment of Security
  • Form 1099-C Cancellation of Debt
  • Form 1098-E Student Loan Interest Reporting & Form 1098-T Regarding Tuition Reporting
  • Public Inspection of Tax Exempt Organizations Filings, Forms 990, 990-T, 1023, etc., and IRS Sanctions Regarding Transactions with Certain Persons (Insiders)
  • Credit Card Sales
  • Proceeds from Broker and Barter Exchange Transactions
  • Health Care Value Reporting
  • Health Care Coverage Reporting

We recommend you review the specific areas related to your business each year as rules change from year to year. If you have questions, please contact your Hawkins Ash CPAs Tax Advisor.

The 2015 vehicle standard business mileage rate was increased to 57.5 cents per mile. The 2014 vehicle standard business mileage rate was 56 cents per mile.

For most Forms 1099, detailed on the following pages, a telephone number for recipient inquiries must be provided.

If you have any questions concerning the enclosures, please feel free to contact us.


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