Category: Important Update

As of March 31, 2026, refunds due on original Federal Form 941 filings will now be issued electronically by the IRS. As part of this update, Form 941 now includes the client’s bank account information when applicable.

This change supports the IRS’s ongoing efforts to modernize tax administration by improving processing efficiency, reducing delays associated with paper checks, and enhancing accuracy and security. Electronic refunds allow funds to be delivered more quickly while reducing administrative handling for both the IRS and taxpayers.

What’s changing?

• Form 941 now includes fields for the client’s bank account information when filing electronically.
• The IRS will use this information to deposit refunds directly into the taxpayer’s account.
• This applies specifically to original returns filed electronically, not amended or paper-filed returns.

Why this change matters

This update is part of the IRS’s modernization efforts to:

• Speed up refund delivery through direct deposit
• Reduce delays associated with paper check processing
• Improve accuracy and security of refund distribution
• Minimize administrative handling for both taxpayers and the IRS

The EEOC recently reinstated the requirement to collect two years of pay data for 2017 and 2018, and covered employers are required to file this information by Sept. 30, 2019. This requirement has significant implications for covered employers.

Two new reports are available in the Client Reports section of iSolved HCM to support the Component 2 requirements.

The EEO1 Component 2 Pay Data Report provides the required pay information in PDF and Excel format. The configurable report options are referenced in the screenshot below.

The PDF version of the EEO1 Component 2 Pay Data Report (see example below) mirrors the EEOC Component 2 printable report, and the Excel version provides an audit of the employee W-2 Box 1 wages and hours worked.

The EEO1 Component 2 Pay Data Export provides the pay information in a comma-delimited (csv) file that meets EEOC filing standards.  Use this version to export Component 2 information and upload it to the Component 2 EEO-1 online filing system.  When you run the report, specify your EEOC filing information in the Options section to generate a complete file, as referenced in the screenshot below.

The standard EEO-1 Report, shown below, will continue to be available in iSolved HCM by navigating to Reporting >> Client Reports.

The resources below make successful filing easier.

• Visit the Component 2 EEO-1 online filing system website to access:
  • Instruction Booklet for EEO Filers
  • Fact Sheet for Component 2 EEO-1 Compensation Data Filers
• A helpdesk is available for support by contacting:
  • Email:  EEOCcompdata@norc.org
  • Toll Free: (877) 324-6214

Multiple government and banking institutions have alerted the public on an increase in phishing scams since the start of 2019. Employers nationwide are reporting an increase in phishing emails sent to their employees that request sensitive personal information including direct deposit bank account information.

The iSolved^® Employee Self-Service (ESS) provides a secure method for employees to update their sensitive personal information, reducing the risk of error and fraud. ESS helps safeguard the employee’s information by providing a secure method to update information thus eliminating the need to communicate changes through unsecured email. If employees submit these changes through ESS, your employees can safely ignore many phishing emails knowing that all employee changes will come through the iSolved^® HCM system.

At no additional cost, empower your employees with these ESS features:

• Secure direct deposit updates
  Employees can submit bank account information electronically to update their direct deposit information. Visit the Direct Deposit – Employee Self Service topic in iSolved University for detailed instructions. Employees can also securely access their direct deposit information online by visiting insperity.myisolved.com.

• Secure name and address updates
  Employees can maintain their personal information securely through iSolved’s ESS. Enabling the Update Name and Address option in ESS is a secure way for employees to submit those updates. Visit the Name/Address Updates – ESS topic in iSolved University for detailed instructions.

• Secure electronic forms
  Employees can access their pay stubs, W-2s, 1099s and ACA forms electronically. Enabling electronic year-end consent allows employees to opt out of paper forms with an eSignature. Visit insperity.myisolved.com, and navigate to iSolved^® University for instructions on how to allow your employees to opt out of paper forms.  

When Insperity submits your annual tax files with the IRS, employee names and Social Security Numbers (SSN) are validated against the information on file with the Social Security Administration for that employee. iSolved^® HCM will generate an error notice if the information provided does not match with the Social Security Administration’s records, so it’s critical that the employees’ names and SSNs are accurate. It’s also particularly important that mailing addresses are correct for the employees requesting hard copies of year-end forms to ensure they are promptly received.

Speak to your payroll specialist or send an email to Workforce Acceleration Support to enable these time-saving, risk-preventing features today.

Don’t forget: ESS service features are also available on mobile devices through the iSolved^® Go mobile app.

NOTE: 2018 annual tax forms have already been printed. If employees need to submit name, address or SSN updates that should apply to 2018 forms, please contact your payroll specialist so corrected year-end forms can be generated.