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Tax Year 2021 Year-End Updates

Federal Reporting

The following updates were released during the tax year 2021 for Version 21.4:



Release Note

EFIN-710411099 Forms and Electronic File Released for 2021

This release includes these 1099 forms which have been updated for tax year 2021:

  • 1099-MISC

  • 1099-NEC

  • 1099G

In addition, the 1099-MISC form was changed for 2021 to include the information in Box 11 for Fish Purchased for Resale. This can be created by setting up the 1099 Parameters for future tracking if you need to report.

The 1099-NEC form now prints three forms per page and includes a new checkbox (Box 2) which may be updated in the maintenance option to indicate that the amount reported is for Direct Sales of $5,000 (or more) for Resale. This checkbox must be manually updated if it needs to be reported.

The associated Federal 1099 electronic file updates have also been completed and included in this release.

Please note that State updates for electronic files are just being released - if you are notified of changes in State 1099 reporting, please contact the Help Desk immediately with the information. Also, watch for updates in PowerSchool Community for your State on this and other topics. At this time, we have completed all the updates for which we have received change information.

EFIN-680901099 Vendor Maintenance Change Warning for 1099-NEC

When a record in the Fund Accounting -> Reference Tables -> Vendor List vendor name and address are updated during January, a message is displayed if there is a current tax reporting year 1099-MISC, asking if the 1099-MISC form should also be updated. We have added the same check, question and update for the 1099-NEC.

EFIN-68082ACA Install Tax Year Information

Affordable Care Act information used for processing the 2021 electronic file and providing the 2022 options has been made available for 1095-B and 1095-C processing. The database update process will install this information for you.

EFIN-68079ACA Update Plan Start Month and Employee Age when Included in the Imported Data

When the Import Data option is run for the Affordable Care Act 1095 Maintenance, the Plan Start Month and the Employee Age are now being updated if the data is present in the import file for existing 1095 records. It will also load all the information into a new record when there is not an existing record to update.

We also changed the warning for missing ICHRA ZIP to only be displayed if Offer Code is an ICHRA code that requires the zip.

EFIN-68077ACA First Month not Reflecting there is Coverage

When creating a 1095 in the Affordable Care Act load, and when a District does not have a waiting period prior to medical coverage enrollment. i.e. someone hired on 2/24/2020 and enrolling in benefits will have a medical coverage effective date of 2/24/2020. In the ACA Benefit Group Maintenance, the ACA REPORTING benefit group has a Hire Offset Type of "immediate" to reflect this. After Creating Employee 1095-Cs, all of the new hires have the correct Employee Offer and Coverage information; however, the Covered Individuals information does not check off the first month of coverage for the employee as a covered month (though it should).

The Covered Individual is being updated based on the Offer of Coverage for the employee. Therefore, since the Offer of Coverage only applies to each full month of coverage, the initial partial month of coverage is not updating the Covered Individual for the employee.

This particular situation has been corrected, and the first month of coverage box will now be checked.

EFIN-68075ACA Validation - Plan Start Date

We have enhanced the Validation process for the Affordable Care Act 1095 Electronic file to ensure that the Plan Start Date is now included in the process, as the field is now required.

The following updates were released during the January 2022 Major release for Version 21.4:



Release Note

EFIN-744251099-NEC Attachments - Include Single Back on AttachmentCorrected the 1099-NEC Print process when creating an attachment to include only ONE back per 1099-NEC, rather than three in the attachment.
EFIN-743251099R Electronic FileThe Internal Revenue Service released updates for the 1099-R (Retirement) electronic file, which will also consolidate other changes they have made in the past, making the reporting more consistent overall for the 1099 filing.  This may result in issues for states where the standard Federal electronic file is not acceptable.  We are checking into this further.
EFIN-68095W2C - Report Only Changed Values for Box 12 and 14

The W2C report has been modified to only display values for boxes 12 and 14 if the values have a changed (different) value entered. The Hard Copy report has been modified accordingly. Also, the W2C electronic file has been modified to correct the information on the RCU record.

EFIN-68085ACA - Display Employee 1095 forms for 2021 in Employee Access Center

The updated 2021 Affordable Care Act employee landscape format 1095-C and 1095-B forms have been included with this release. Please make sure to install Employee Access Center forms at On-Premise/Self Hosted customer sites to get the changes.

The following updates were released during the January 2022 Minor release for Version 21.4:



Release Note

EFIN-76263FED - 1099-NEC Printing Backs for 3 forms correctedWhen we corrected the attachments created when printing 1099-NEC forms, we inadvertently changed the printing process. Therefore, we have corrected it so that if you print the back of 1099-NEC forms on blank paper, it will print all three backs for all three vendors on the front of the printout.
EFIN-76040FED - 1099-NEC Electronic file for Combined Federal/State filersWe have corrected the issue with creating 1099-NEC Electronic files where the state code, which needs to be updated by the customer in the 1099 setup, was not appearing on the Electronic file. This has been corrected for Minnesota and Ohio specifically and other states who are Combined Federal/State filers.
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