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.
- 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
- Phone number
- 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:
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.