As of Monday, February 1, 2021 all NACA Members must have their 2020 W2’s and 1099’s submitted to their NACA files. By law, employers are required to have these in your hands by January 31st, and you should immediately submit them to your NACA file if you have not done so already.
2020 Tax returns must be submitted to your NACA file no later than May 17, 2021, the extended filing deadline for 2020 taxes. This means your 2020 tax return should be in your file no later than May 17th. Failure to comply will mean your file cannot move forward until the completed return has been submitted to your file. If you have completed your 2020 tax return and are simply waiting to file, please go ahead and send a signed copy of the return into your NACA file now.
By the way, that means ALL pages of your tax return. All attached schedules, forms, etc. that you filed with your return must be submitted to your NACA file as well.
Members who file a Form 4868 (Automatic Extension of Filing Deadline) will not be allowed to progress until their income tax return has been filed with the IRS and the return submitted to their file. The extension does not grant a waiver where your NACA file is concerned.
Likewise, members who owe taxes this year must have that tax debt paid in
full without exception before their file may continue to move forward.
We’re a little closer to normal this year after last year’s confusion. Submit your W2 or 1099 as soon as you receive it, file on time and submit the signed return to your file ASAP (but by May 17 for certain), and have any taxes owed this year paid in full.