At the end of each quarter, we ask that you review important payroll and tax information in isolved for accuracy.
All Q1 2023 payroll and tax information must be accurate and complete in isolved by Friday, March 31, 2023 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 is correct in isolved. Review each piece of information shown below by going to Reporting > Client Reports to run each report.
- 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 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 and as it should be reflected on tax forms.
- Validate your company tax information on the Client Profile Report under the Authorized Tax Agencies and Taxes section.
- Review the federal and state tax ID numbers for accuracy.
- Review the state filing frequencies and rates to ensure they are correct.
NOTE: Please remember 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 information on the Employee W2 Verification Report.
- Verify employee names and social security numbers for accuracy.
- Verify employee names and social security numbers for accuracy.
Other important tax reminders
- First-quarter tax filings will be available on the Return Archive page of the Reporting menu in isolved on May 2, 2023.
- Pay items that have not been entered in isolved yet, OR payroll adjustments that will be reflected on Q1 2023 returns, MUST be reported to your payroll specialist by Friday, March 31. These items include:
- In-house checks
- Voided checks
- Tax adjustments
- Third-party sick/disability payments
Ensure all FFCRA qualified sick and leave wages are entered correctly.
- An additional charge will be applied for any Q1 2023 corrections submitted after the deadline of Friday, March 31, 2023.
Please contact your dedicated payroll specialist today if you have any questions or concerns regarding the information above.