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Monthly Archives / December 2017

  • Dec 08 / 2017
What's New

Social Security Changes 2018 Wage Base to $128,400

On November 27, the Social Security Administration (SSA) announced that the 2018 social security wage base will be $128,400, not $128,700 as it previously reported on October 13. This is still an increase of $1,200 from $127,200 in 2017. The lower amount is due to approximately 500,000 Forms W-2c (correcting 2016 Forms W-2) submitted to the SSA in late October by a payroll service provider.

  • Dec 08 / 2017
What's New

IRS Anticipates Late Release of 2018 Withholding Tables, Publications

On its December 7 industry payroll call, the IRS stated that several items, including the 2018 federal withholding tables, Form W-4, and Publications 15, 15-A, and 15-B, will be issued later than usual due to the potential enactment of H.R. 1, the Tax Cuts and Jobs Act. Employers should continue to use the 2017 information until the 2018 versions are issued.

  • Dec 07 / 2017
What's New

Year End Check List – It’s that time of the Year again!! Some useful tips:

 Create 2018 Payroll Calendar & Holiday Schedule
Review W-2 Data (SSN, Address) before final print
Complete a W-4 Audit, verifying state
Complete a WC Code Classification Audit
Complete a Job Title/Description Audit, ensure all EEs have one
Create 2018 Payroll Tax Folders, Time keeping Folders, Payroll Report Folders
Create 2018 401k Binder for payments, adjustments, letters from administrators
Create 2018 WC Binder for payments, adjustments, letters, reclassifications
Place Change of Address Forms on your company intranet & in lunchrooms
Upload new Benefit data into your payroll system, run trial tests before 1st payroll
Create 2018 Benefit Rate sheet (EE Cost, ER Cost, Cobra Cost)
Enter Fringe Benefit data from A/P, 3rd Party Sick Pay Data, Gift Cards w/cash value
Oder Labor Law Posters for 2018
Create Important Message Log for 2018 (Paystub message)
Ensure 1095C Data is complete/accurate
Submit requests to Payroll Service for any extra (Bonus) runs early
Audit EE Locations for Worksite EDD Report
Review Wage & Tax Reports & Fix before last payroll of the year
Verify with Accounting Dept any updates to Department and GL numbers
Update Self Service Forms, if needed
Complete an I9 Audit
Provide Total Compensation Statements to all EEs, listing all costs, pay, benefits, etc.
Create 2018 tasks Calendar (Qtrly tax form filing, WS filing, Training, Safety, etc.)
Review EE Handbook for updates
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