Podcast Ohio STATE REQUIRES THE FOLLOWING FORMS:
- Form 1099 ( 1099-MISC, 1099-NEC, 1099-K, 1099-B, 1099-R and 1099-G)
- Form W2 - Wage and Tax Statements
DEADLINE FOR NEW JERSEY STATE FILING TAXES:
- January 31, 2024 - Ohio Form 1099 Filing Deadline
- January 31, 2024 - Ohio Form W-2 Filing Deadline
IRS Mandates eFiling for 10 or more Tax Returns for the TY 2023. eFile Now!
| Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | |
|---|---|---|---|---|
| Form Name | No Ohio state taxes withheld, payments do not exceed federal threshold. | No Ohio state taxes withheld, payments made exceed federal threshold. | There were Ohio state taxes withheld. | Mandatory Filing. |
| 1099-MISC | No filing required | Filing Method : CFSF | Filing Method : Paper filing | NA |
| Pricing : Free | Pricing : $10 per submission + $0.99 per form | NA | ||
| 1099-NEC | No filing required | Filing Method : CFSF | Filing Method : Paper filing | NA |
| Pricing : Free | Pricing : $10 per submission + $0.99 per form | NA | ||
| 1099-K | No filing required | Filing Method : CFSF | Filing Method : Paper filing | NA |
| Pricing : Free | Pricing : $10 per submission + $0.99 per form | NA | ||
| 1099-B | No filing required | Filing Method : CFSF | Filing Method : Paper filing | NA |
| Pricing : Free | Pricing : $10 per submission + $0.99 per form | NA | ||
| 1099-R | No filing required | Filing Method : CFSF | - | Fiing Method : Electronic |
| Pricing : Free | - | Pricing : $0.99 per form | ||
| 1099-G | No filing required | Filing Method : CFSF | Filing Method : Paper filing | NA |
| Pricing : Free | Pricing : $10 per submission + $0.99 per form | NA | ||
| W-2 | - | - | Filing Method : Electronic | NA |
| - | Pricing : $0.99 per form | NA |
Additional filing requirements :-Ohio state reconciliation form IT-3 may be required. Tax1099 offers this form through the platform for $4.99.
Tax1099 prepares and transmits all the necessary forms to the state for you.
- Late Filing of W-2 Forms: If you file W-2 forms after the due date, the penalty is $50 per month, with a maximum cap of $500 or 5% of your unpaid tax per month, up to a maximum of 50% of the tax due.
- Late Payment of Taxes: If you do not pay the tax deducted or withheld from your employees' compensation on time, a penalty of 50% of the tax due may be imposed, unless you can demonstrate there was a reasonable cause and not willful neglect.
Additionally, interest will accrue on the unpaid tax at the rate specified in the Ohio Revised Code.
Note: If you fail to file W-2 forms and do not pay the taxes on time, you will be subject to both of the penalties mentioned above.
- Not Filing When Required: If you do not file your return or the IT-3 transmittal of the W-2 statement when required, the penalty is $50 per month, with a maximum cap of $500 or 5% of your unpaid tax per month, up to a maximum of 50% of the tax due.