In accordance with your agreement and Form 8655 (Reporting Agent Authorization), this notification serves as confirmation that your fourth quarter 2020 payroll tax returns and payments have been filed on your behalf by Insperity Payroll Services.
You can now access your fourth quarter report packages as well as your employees’ W-2 forms in isolved.
Accessing your tax returns
To access your quarterly report packages, log into isolved and navigate to Return Archive under the Reporting menu. Your fourth quarter report packages can be found here and include all tax returns that were filed by Insperity.
On this screen, you will need to use the filters at the top of the screen to select which quarter will be displayed in the list. For your fourth quarter and annual returns, select the year ‘2020’ and period ‘Q4’. Then click Filter.
Accessing W-2s
Employees who have access to Employee Self Service can log in to isolved and access their own W-2. Individuals receiving a 1099 form may follow the same process in their W2/ACA/1099 Forms menu option.
If you need to reprint an employee’s W-2, you can access their year-end form as well under Employee Self Service and select the W2/ACA/1099 Forms menu option. Select the employee from the list and then, click the View Document link for the form you need.
The form will open in another tab as an attachment and you can download and print it from there.
If you need assistance or have any questions regarding W-2s or tax returns, please reach out to your payroll specialist for assistance.
Information regarding COVID-19 and your 941s and W-2s
Form 941 returns for Q4 2020
Your Form 941, Employer’s Quarterly Federal Tax Return, for the fourth quarter of 2020 may include deferrals and tax credits related to COVID-19 legislation. These forms report:
- CARES Act Employee Retention Credits (ERC) for eligible wages and qualified health plan expenses paid from Oct. 1 – Dec. 31, 2020, if you provided these credit amounts to Insperity Tax by Dec.31, 2020.
- FFCRA leave tax credits for:
- Emergency Paid Sick Leave (EPSL) and Emergency Paid Family Leave (EPFL) wages paid in isolved from Oct. 1 – Dec. 31, 2020.
- Employer Medicare Tax on EPSL and EPFL paid in isolved from Oct. 1 – Dec. 31, 2020.
- Qualified health plan expenses allocable to EPSL and EPFL (QHPE) if you used the specified isolved memo codes to record them in payrolls from Oct. 1 – Dec. 31, 2020.
- Adjustments that were sent to Insperity Tax by Dec. 31, 2020 for payrolls between Oct. 1 – Dec. 31, 2020.
- CARES Act Employer Social Security Tax deferrals for payrolls posted after Insperity Tax processed your signed Payroll Tax Deferral Request through the end of the quarter, Dec. 31, 2020.
- Employee social security tax deferral as a result of the Presidential Memorandum for payrolls posted after Insperity Tax processed your signed Request to Enable Employee Social Security Tax Deferrals through the end of the quarter, Dec. 31, 2020.
- Tax credit payments that you received directly from the IRS after filing Form 7200, Advance Payment of Employer Credits Due to COVID-19, if you reported those payments to Insperity Tax by Dec. 31, 2020.
Any tax overpayments that are shown on your Q4 941 were designated as a refund. Refunds are sent directly to you, the employer, from the IRS.
If you have questions about your Form 941, please contact Insperity Tax at ips.tax@insperity.com. They may be able to help if you are missing a tax credit that should have been reported. Fourth quarter 941 returns can be amended to include ERC and FFCRA leave credits that were not originally reported. However, returns cannot be amended to defer employer social security taxes that were already deposited.
FFCRA leave wages on W-2 forms
FFCRA leave wages paid in 2020 will be displayed on Form W-2 per the IRS instructions. These wages will be displayed in Box 14 with these descriptions:
- EPSL-Employee will be shown as ‘Sick $511 Limit’
- EPSL-Family 2/3 will be shown as ‘Sick $200 Limit’
- EPFL-Day11+ 2/3 will be shown as ‘Emer Family Wg’
Ongoing tax communication
As a reminder, you should send all payroll-related tax communication that you receive to your Insperity payroll specialist for review. Insperity does not receive direct communication regarding your tax accounts from state and federal agencies, and these notices may contain important pieces of tax information needed for correct and timely tax payments and filings. Incorrect and/or missing information may result in penalties and interest assessed by the tax agency. Insperity is not responsible for any penalties and interest that are charged.