The 2019 Year-End Guide provides important tax compliance information, processing and year-end deadlines, information on how to handle year-end adjustments, holidays schedules and more. If you have not yet reviewed it, click here to access.
You should also take this time to verify your company and tax set up information in iSolved. You can use the below information to guide you as you review.
1. Review company information
Visit your Client Summary page under Client Management to validate the following:
- LEGAL NAME
- Name matches the legal company name registered with tax agencies
- FEIN matches the legal FEIN registered with tax agencies
- Address matches the legal company address registered with tax agencies
- CONTACTS
- Tax filing contact listed (see screenshot below)
- Name is listed as you wish it to be reflected on tax forms and tax filings
- Email address correct
- Phone number correct
2. Review tax setup information
On the Client Summary page, run the Tax List report in the Reports box (shown below).
On the Tax List report, review the following items:
- Federal and state tax ID numbers
- State filing frequencies and rates
This information can also be viewed using the Tax ID & Rate Verification Report in the Reporting menu > My Reports page, seen below.
You must have a registered ID number with all appropriate state and federal agencies in order to file. Agencies do not accept “Applied For” ID numbers for filing and payments. Submitting your filings with an “Applied For” ID could cause delay and agency penalties and fees.
3. Review employee identification information
Visit the Employee Management menu > Employee Summary page and review all employee information including name, address and social security number for accuracy.
4. Other important reminders
- Most states review and update employers’ unemployment insurance rates effective Jan. 1 for the new year. You should receive a new rate notice in late 2019 or early 2020 from each state you are registered in. These unemployment rates and tax filing frequencies are mailed to the taxpayer, and it’s imperative these tax-related communications are forwarded to your Insperity payroll specialist as soon as you receive them. We require this information to ensure your taxes are paid accurately and timely in 2020.
- Fourth quarter and annual tax filings will be available on the Return Archive page of the Reporting menu in iSolved on Feb. 14, 2020, as referenced in the screenshot(s) below.
- If you have chosen to receive your W-2s electronically, they will be available to you and employees who signed up for them on Jan. 20, 2019.
- Review the 2019 Year-End Guide for processing deadlines for all payroll adjustments and 2019 payroll entries. 2019 corrections needed after the stated processing deadlines will not begin until after Feb. 1, 2020, and additional charges may be applied.
Please contact your dedicated payroll specialist today if you have any questions or concerns regarding the information above.