The holiday season is in full swing, which means it’s time to install the Year End update to stay compliant. Calendars are filling up quickly. Please contact Sandi James at firstname.lastname@example.org or call us at 425-277-4760 to schedule today.
Dynamics GP Year End Update Fixes
- No W-2 or W-3 Form changes
- ACA/1095 changes to fix some issues with data and functionality
- Fixed Asset Luxury - Fixed Assets luxury automobile maximum depreciation amounts for assets placed in service in 2015
- Electronic W-2 filing changes - Changes in the 2015 EFW2 file
- 1099 changes –
- 1099 MISC – a Foreign Account Tax Compliance Act (FATCA) Filing requirement checkbox has been added
- 1099 MISC - If box 3, Other Income, is marked on the 1099-Misc statement, the amount to print must be zero
- 1099-DIV form - a FATCA* Filing requirement checkbox has been added
- 1099-INT Box 12 – Blank Description, Min Amount was added
- 1099-INT Box 13 – Bond premium on tax-exempt bond was added.
- 1099-INT – FATCA* filing requirement was added o Form 1096 includes a new box, 1098-Q, and removes box 1099-H.
For more details, please click on the links below: