Manual & Voided Checks for W2’s
If your company issued Accounts Payable or other manual payments to employees which have not been accounted for through the PlanSource HCM system, these wages and all associated taxes MUST…
Processing Third Party Sick Pay
On a monthly or quarterly basis an employer’s insurance provider issues a report indicating the STD/LTD benefit amounts that are paid out to their employees. These payments should be entered…
Grossing Up an Earning
What is a Tax Gross up ? There might be a time you want to pay an employee a specific amount. But, once you factor in taxes, that amount gets…
Verify Employee Information
Engage your employees to review and correct any issues with their personal information or pay history before W2's are generated. Encourage emoployees to log into the web portal to review…
Retirement Plan W2 Box 13
The Retirement Plan box on the Form W‐2 will be automatically checked if you have any plan funded via payroll deductions (401(k), 403b, etc.) You can review your employee population…
Deceased Employee Wage Reporting
(From IRS W2 Instructions) If an employee dies during the year, you must report the accrued wages, vacation pay, and other compensation paid after the date of death. Also report…
W2 Box 12DD Health Benefit Reporting for ACA
A requirement of the Affordable Health Care Act is to report the combined cost of applicable health insurance coverage. The amount reported in Box 12 DD is not taxable, and…
Employer Paid S-Corp Owner Benefits
Health insurance premiums paid by the corporation for owners with at least 2% ownership in an S-Corp where an employee “non-discriminatory” medical plan is offered is taxable and reportable, thus…
Taxable Fringe Benefits
Fringe Benefits MUST be submitted with other paid wages to allow for accurate tax deductions.