Annual
Paperwork Reminders
There are several documents that the payroll department must
issue or process at the end of a calendar year. Place the following
paperwork-related items on the payroll activities calendar so they are not
forgotten:
-
Remind employees to review their withholding status and
submit a new W-4 form if changes are in order.
-
Remind employees who claimed total exemption from income tax
withholding to submit a new W-4 form by the end of December.
-
Give a completed W-2 form to all employees by the end of
January.
-
Give a completed 1099 form to all qualifying suppliers by
the end of January.
-
Send Copy A of all completed W-2 forms to the Social
Security Administration by the end of January.
-
Send a copy of all completed 1099 forms to the IRS with a
transmittal Form 1096 by the end of January.
-
Verify that all Forms W-2 and W-3 sum up to the totals
listed on the Form 941, or be aware of the differences between the two sets of
numbers.
Sections
Syndication