Rock Hill, SC, January 6, 2026
The IRS and SSA have started accepting 1099, W-2, and 94x forms for the new filing season, highlighting key deadlines and new reporting requirements for local employers. As tax season approaches, businesses in Rock Hill must stay compliant and informed in order to support economic growth. Notably, the new One, Big, Beautiful Bill introduces reporting obligations for cash tips and overtime compensation, accompanied by penalty relief to ease the transition for small businesses.
Rock Hill, SC – The Internal Revenue Service (IRS) and the Social Security Administration (SSA) have officially begun accepting 1099, W-2, and 94x forms for the 2025 tax year as of January 5, 2026. This new filing season is crucial for employers and tax professionals in ensuring accurate and timely submissions. With local businesses being the backbone of the economy, understanding these updates sets the stage for financial success and compliance in the coming year.
As tax season approaches, it’s essential for Southwest Carolina entrepreneurs to stay informed about their responsibilities. The IRS and SSA’s announcement encourages prompt action, as timely submission of these forms is pivotal in supporting local economic growth and ensuring that Rock Hill businesses can thrive while minimizing bureaucratic red tape.
### Filing Deadlines and Requirements
Employers in Rock Hill should note that the deadline for electronic filing of Forms W-2 and 1099 is February 2, 2026. Employers must also provide copies of these forms to employees and payees by the same date. For those opting for paper filings, important deadlines are February 28, 2026, for the SSA and March 31, 2026, for the IRS. Meeting these deadlines not only fosters regulatory compliance but also supports local job security and community stability.
### Electronic Filing Requirements
Businesses submitting 10 or more Forms W-2 are required to file electronically with the SSA. For companies in Rock Hill, this move towards electronic filing is a significant step towards modernization and efficiency, improving the speed and accuracy of tax reporting. The SSA began accepting electronic wage reports on December 8, 2025, providing ample time for local employers to adapt.
### New Reporting Requirements Under the One, Big, Beautiful Bill (OBBB)
The implementation of the One, Big, Beautiful Bill introduces vital new reporting requirements for cash tips and qualified overtime compensation. Employers are now obligated to report these amounts on Forms W-2 and 1099. However, in a commendable effort to ease this transition, the IRS has offered penalty relief for the 2025 tax year for incomplete or incorrect reporting. This relief serves as a cushion for small businesses, allowing them to adapt without the immediate fear of penalties that could hamper financial stability.
### Recommendations for Employers
Employers are encouraged to take proactive steps in verifying all employee information before submission to ensure accuracy. With new requirements coming into play, providing employees with separate accountings of cash tips and overtime compensation will facilitate their ability to claim deductions effectively. This practice not only demonstrates a commitment to transparency but also helps foster a culture of trust and reliability within the local workplace.
### Background
The IRS and SSA annually refresh their filing procedures and regulations, and this year is no exception. The updates for the 2025 tax year—including new reporting requirements under the OBBB—require employers to adjust their reporting practices. Local businesses can breathe easier knowing that the IRS has collaborated with employers, payroll providers, and tax professionals to navigate these changes, emphasizing the importance of a smooth transition.
### Key Takeaways
As the 2025 tax season commences, local businesses should take these new updates seriously. It is a pivotal time for Rock Hill’s economy, highlighting the need for proper tax compliance as a means to support community growth. By taking the right steps, employers can ensure not just compliance but also a healthier local economy, benefitting all residents and stakeholders involved.
### Frequently Asked Questions (FAQ)
1. When did the IRS and SSA begin accepting 1099, W-2, and 94x forms for the 2025 tax year?
The IRS and SSA began accepting these forms on January 5, 2026.
2. What are the filing deadlines for these forms?
The electronic filing deadline is February 2, 2026, and the paper filing deadline is February 28, 2026, for the SSA and March 31, 2026, for the IRS.
3. Are there any new reporting requirements for the 2025 tax year?
Yes, the One, Big, Beautiful Bill introduces new reporting requirements for cash tips and qualified overtime compensation. Employers are required to report these amounts on Forms W-2 and 1099.
4. Is there any penalty relief for incomplete or incorrect reporting under the new requirements?
Yes, the IRS has provided penalty relief for the 2025 tax year, treating it as a transition period for these new reporting requirements.
5. What should employers do to ensure accurate reporting?
Employers should verify all employee information before submitting forms and provide employees with separate accountings of cash tips and overtime compensation to assist them in claiming deductions for these amounts.
### Key Features of the 2025 Tax Filing Season
| Feature | Description |
|---|---|
| Filing Start Date | January 5, 2026 |
| Electronic Filing Deadline | February 2, 2026 |
| Paper Filing Deadline | February 28, 2026 (SSA), March 31, 2026 (IRS) |
| New Reporting Requirements | Reporting of cash tips and qualified overtime compensation under the One, Big, Beautiful Bill |
| Penalty Relief | Provided for the 2025 tax year as a transition period for new reporting requirements |
Deeper Dive: News & Info About This Topic
HERE Resources
TaxBandits Expands Services for Upcoming Tax Season
TaxBandits Expands Support for New IRS Form 1099-DA
Chris White Files Lawsuit Against Virginia Elections Department
Rock Hill Tax Office Hours, Address, Phone Number & Services
Trial Delayed at Last Minute for Ex-Deputy
TaxBandits Releases Free E-Book for Small Businesses
State Senator Wes Climer Announces Campaign for Congress
Trump’s New Tax Bill Reshapes Deductions and Credits
North Carolina Taxpayers Receive Extended Deadline Due to Hurricane Helene
North Carolina Tax Deadline Extended for Hurricane Helene Victims
Author: STAFF HERE ROCK HILL
The ROCK HILL STAFF WRITER represents the experienced team at HERERockHill.com, your go-to source for actionable local news and information in Rock Hill, York County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Come-See-Me Festival, Rock Hill Arts Festival, and motorsport events at the Rock Hill Velodrome. Our coverage extends to key organizations like the Rock Hill Chamber of Commerce and the Culture & Heritage Museums, plus leading businesses in manufacturing and technology that power the local economy such as 3D Systems and Comporium. As part of the broader HERE network, including HEREAiken.com, HEREBeaufort.com, HEREChapin.com, HERECharleston.com, HEREClinton.com, HEREColumbia.com, HEREGeorgetown.com, HEREGreenwood.com, HEREGreenville.com, HEREHiltonHead.com, HEREIrmo.com, HEREMyrtleBeach.com, HERENewberry.com, HERERockHill.com, and HERESpartanburg.com, we provide comprehensive, credible insights into South Carolina's dynamic landscape.
