You will receive the 2018 Year-End Guide later this month. It will provide important tax compliance information, processing and year-end deadlines, how to handle year-end adjustments, holiday schedule, tax resources and a checklist for fringe benefit processing. We hope the year-end guide will be useful for you in preparing for the remainder of the year and overall readiness for W-2s.
Insperity also will send email notifications in November and December covering:
- Tax rate and filing changes
- State minimum wage increases
- New federal tax rates
- Relevant tax updates or changes for 2019
Please note the critical deadlines below:
By Dec. 14, 2018:
- Submit all wage corrections and adjustments
- Return the Year-End Questionnaire included with the Year-End Guide. This questionnaire will indicate 1099 printing needs, adjustments for group-term life, personal use of company car and third-party sick pay.
- Identify and process any end-of-year payroll, such as bonus and fringe benefits
- Enter any manual checks and/or voided checks that need to be recorded in 2018
By Dec. 31, 2018:
- Process third-party sick pay information
- Audit all employee data related to SSN, name and mailing address, and make any necessary updates
Again, please review the guide closely, and don’t forget to complete the included Year-End Questionnaire and return it to your payroll specialist by Dec. 14, 2018.