Payroll – Wrapping out the Year – January Items

by | Jan 8, 2014 | Tax and Accounting Desk

You’re back from wonderful year-end time off, filled with family and food. And if you’re not prepared for tax season, perhaps some righteous stree.

Not to worry. The January checklist from the APA will  you get through the month without biting off all your fingernails.

  • Confirm 4th quarter and annual wage and tax reconciliations.
  • File state annual reconciliations.
  • Notify mailroom of W-2 mailings. Or purchase postage for those needing to be mailed.
  • Send note to employees when W-2s will be ready and how to obtain the forms.
  • Distribute W-2s by January 31st.
  • Finalize GL reconciliations.
  • Validate wage bases and tax percentages for federal and state taxes.
  • Verify updates and other changes in payroll system work correctly.
  • Don’t forget to file all forms with the SSA, state, and local authorities in February.

After all that, it’s time to smile, sit back and say I got this.

Thanks to APA www.americanpayroll.org for their help.

The above list is not inclusive. Be sure to customize lists for your particular needs.

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