Reminder:

In order to help meet your payroll and information return filing needs, we have posted information relevant for preparation of these forms to our website. If you would like Blue & Co. to prepare them for you, we ask that you review and sign the engagement letter and complete the Addendum to the Engagement Letter so that we know the specific forms that you are requesting us to prepare. If we are preparing payroll and/or information returns for multiple companies, please complete a separate engagement letter and addendum for each company.

In order for us to prepare returns for you on a timely basis, we ask that you submit the signed engagement letter and completed addendum and all information necessary to prepare forms and returns no later than January 13, 2025. We cannot guarantee timely filing of returns if information is received after January 13, 2025.

Important:

If the total W-2 forms and information return forms (ie: 1099 forms) you file is at least 10 forms, all forms are required to be filed electronically.

Certain information returns (W-2 forms and 1099 forms for Non-Employee Compensation) are to be filed to the respective government agencies by January 31. As such, it is imperative that we receive your information timely. If not, your forms may be filed late, and you may be subject to increased fees and penalties and interest. Employment and information return worksheets are posted online for your completion. Complete the calendar year figures and return to us by January 13, 2025. Completion of the engagement letter and addendum informing us of the services that you want us to perform does not constitute providing information timely.

Submitting Information to Blue & Co.

A link has been created for information to be sent securely to Blue & Co. for preparation of your 2024 payroll and information returns. Instructions on how to upload the files can be found below, along with the link to upload the files.

If we are preparing any W-2 forms for you, please complete the two-page questionnaire regarding employee benefits as well. We have provided forms for calculation of automobile fringe benefits (personal use of Company automobile) online as well, in case this is applicable to your situation.

Electronic Filing

Blue & Co. will file W-2’s and 1099’s with the Internal Revenue Service, Social Security Administration, and the Indiana Department of Revenue (if applicable) electronically. Therefore, we must have your signature on the engagement letter prior to releasing any returns to you.

Penalties

It is important that you do not neglect your responsibility to file information returns. The Internal Revenue Service can impose penalties on any taxpayer that fails to furnish another person with an information return by the required date. There are also penalties for failure to file and where appropriate, failure to pay or pay timely. The penalties vary by type of return and type of penalty. You need to be aware that they can be quite severe.

The payer may also be subject to a penalty for submitting information returns with no identification number or incorrect identification numbers. The Internal Revenue Service has become quite strict in enforcing backup withholding requirements. It is important to provide Blue & Co. with the correct taxpayer identification number for all recipients of Form 1099. The Internal Revenue Service will issue cross-check notices to taxpayers whose identification numbers and names do not match its records.

The recipient must furnish his or her Social Security or Federal Identification Number to said taxpayer. Failure to do so could subject any such payments to backup withholding by the taxpayer. We have provided a current copy of Form W-9, Request for Taxpayer Identification Number & Certification online for your convenience.

Information Returns – 1099s

Please refer to the 1099 Filing Requirements for a review of some basic information regarding who should receive these forms. The recipient’s copy of the Form 1099 must be mailed to the recipient by January 31, 2025. The Internal Revenue Service has requested that all information returns be typed or machine prepared.

Your phone number will be included in the filer name and address area on Forms 1099. Please make sure to include your telephone number on the first tab of the 1099 fling requirements and data worksheet before you return it to us.

Payroll Returns – W-2s

If you have paid wages during 2024, the appropriate payroll tax returns must be prepared, mailed to employees and filed no later than January 31, 2025. Please note that if you prepare your own forms, it is your responsibility to comply with all filing requirements, including electronic filing requirements. You may contact us with questions.

One (1) Engagement Letter and Addendum is required per entity

For preparation of 1099 forms:

Required forms to return to Blue:

• Engagement Letter and Addendum
• 1099 Filing Requirements and Data (excel)

OR

• 1099 Worksheet (pdf)

For preparation of W-2 forms and you are required to file form 941:

Required forms to return to Blue:

• Engagement Letter and Addendum
• 941 Worksheet (excel) (pdf)
• 2024 Form W-2 Questionnaire (pdf)

Additional forms (if necessary) to return to Blue:

• 2024 Auto Reimbursement
• 2024 Auto Fringe Benefit
• 2024 Annual Lease Value Table
• Additional 941 Worksheet (pdf)

For preparation of W-2 forms, you are required to file form 943 (2024 Agricultural Employment)

Required forms to return to Blue:

• Engagement Letter and Addendum
• 943 Worksheet (excel) (pdf)
• 2024 Form W-2 Questionnaire (pdf)

Additional forms (if necessary) to return to Blue:

• 2024 Auto Reimbursement
• 2024 Annual Lease Value Table
• Additional 943 Worksheet (pdf)