Category: End of Q2 Guidance

End-of-Q2 guidance

At the end of each quarter, we ask that you review important payroll and tax information in isolved for accuracy.

All Q2 payroll and tax information must be accurate and complete in isolved by Wednesday, June 30, 2021 to ensure timely filing. Below are the recommended items to review to help you meet all requirements successfully.

Review tax setup information

It is crucial to confirm that your company and tax setup are correct in isolved. Review each piece of information shown below by going to Reporting > Client Reports to run each report.

  1. Validate the company information below on the Client Profile Report.
    • Name matches the legal company name registered with tax agencies
    • FEIN matches the legal FEIN that is registered with tax agencies
    • Address matches the legal company address registered with tax agencies
    • Verify that a Tax Filing contact is listed and that their contact information (name, email address and phone number) is correct as it should be reflected on tax forms 

  2. Validate your company tax information on the Client Profile Report under the section for Authorized Tax Agencies and Taxes.
    • Review the Federal and state tax ID numbers for accuracy
    • Review the state filing frequencies and rates to ensure that they are correct 

      Please remember that tax agencies do NOT send any rate or filing frequency notices to Insperity, but they do send this information to you, the employer of record. If you have received these notices or see any discrepancies in your isolved setup, please forward all information to your payroll specialist.

      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 delays or agency penalties and fees.

  3. Review employee information on the Employee W2 Verification Report.
    • Verify employee names and Social Security numbers for accuracy 

Other important tax reminders

  • Second quarter tax filings will be available on the Return Archive page of the Reporting menu in isolved on Aug. 2, 2021.
  • Pay items that have not been entered in isolved yet OR payroll adjustments that will be reflected on Q2 returns MUST be reported to your payroll specialist by Wednesday, June 30. These items include:
    • In-house checks
    • Voided checks
    • Tax adjustments
    • Third-party sick/disability payments
    • Ensure all ARPA qualified sick and leave wages are entered correctly

  • An additional charge will be applied for any Q2 corrections submitted after the Wednesday, June 30, 2021 deadline.

Please contact your dedicated payroll specialist today if you have any questions or concerns regarding the information above.

Quarter-end guidance for Q2

Prior to the end of each quarter, we ask clients to review standard payroll and tax information for accuracy and make any necessary corrections.

All Q2 payroll and tax information must be accurate and complete in iSolved by Tuesday, June 30, 2020 to ensure timely filing. Below are the recommended items to review to help you meet all requirements successfully.

Review tax setup information

It is crucial to confirm that your tax setup is accurate and complete.  We recommend that you go to Client Management > Client Summary to validate each of the statements included in the following sections.

  1. Legal name
  • Name (or DBA name) matches the legal company name registered with tax agencies.
  • FEIN matches the legal FEIN that is registered with tax agencies.
  • Address matches the legal company address registered with tax agencies.
  • Contacts
    • Verify that a Tax Filing contact is listed and the below information is correct as you want it to be reflected on tax forms and filings:
      • Name 
      • Email 
      • Phone number 

Then, go to Reporting > My Reports and run the Tax List report.

On this report, review the following items:

  • Federal and state tax ID numbers
  • State filing frequencies and rates

Here is an example of this report:

Please remember that tax agencies do NOT send any rate or filing frequency notices to Insperity, but they do send this information to you, the employer of record. If you have received these notices or see any discrepancies in your iSolved setup, please forward all information to your payroll specialist.

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.

Review employee identification information

Go to Employee Management > Employee Summarypage and review employee names and social security numbers for accuracy.

Other important tax reminders

  • Q2 tax filings will be available on the Return Archive page of the Reporting menu in iSolved on Aug. 1, 2020.
  • Pay items that have not been entered in iSolved yet OR payroll adjustments that will be reflected on Q2 returns MUST be reported to your payroll specialist by Tuesday, June 30, 2020. These items include:
    • In-house checks
    • Voided checks
    • Tax adjustments
    • Third-party sick/disability payments
  • An additional charge will be applied for any Q2 changes that are submitted after the Tuesday, June 30, 2020 deadline.

Please contact your dedicated payroll specialist today if you have any questions or concerns regarding the information above.