The year is flying by! As you prepare to enjoy your summer vacations and backyard barbecues, please take some time to review the following quarter-end reminders.
Submit all second quarter payroll information by June 25. To avoid tax penalties and re-processing fees, please submit all second quarter data to your payroll specialist by June 25, 2016.
Provide your 2016 state unemployment insurance (sui) tax rate. Each calendar year, your business is assigned a unique, state-specific SUI tax rate based on your employment history. This rate is essential for accurate calculations of your tax returns, and incorrect rates could result in potential penalties for underpayment. Because states don’t always provide us with updated SUI rate information, we rely on you to forward any tax rate information that you’ve received so we can avoid using outdated rates. If you haven’t already done so, please send your 2016 SUI tax rate to your payroll specialist, or you can send a fax directly to our tax team at 888.403.5750.
Ensure that your data is up to date. Please notify your payroll specialist of any changes or updates to the following:
- Company Data—Address, contact information and bank account information.
- Employee Data—Personal data, payroll data and W-4 updates. You should have a Federal Form W-4 Employee's Withholding Allowance Certificate on file for each employee, along with any applicable state and local withholding tax forms. A Form W-4 remains in effect until the employee gives you a new one. You are not required to obtain new W-4s for your employees each year, unless they claim exemption from income tax withholding. Exempt W-4s expire on February 15 of the following year. If employees claim exemption, they must give you a new Form W-4 each year. If the employee does not provide a new W-4, withhold at Single/0 or use the last W-4 that you have on file with a filing status and allowances.
2016 holiday schedule. myPay Solutions will be closed on some of the following days, which are considered non-processing days and have been accounted for in all Payroll Data Submission Deadline Schedules.
- Friday, July 1, 2016—myPay Solutions is closes at noon
- Monday, July 4, 2016 (Independence Day)—National bank holiday—myPay Solutions is closed
- Monday, September 5, 2016 (Labor Day)—National bank holiday—myPay Solutions is closed
- Monday, October 10, 2016 (Columbus Day)—National bank holiday—myPay Solutions is open
- Friday, November 11, 2016 (Veterans’ Day)—National bank holiday—myPay Solutions is open
- Thursday, November 24, 2016 (Thanksgiving Day)—National bank holiday—myPay Solutions is closed
- Friday, November 25, 2016 (Day after Thanksgiving)—myPay Solutions is open with limited staff
- Monday, December 26, 2016 (Observation of Christmas Day)—National bank holiday—myPay Solutions is closed
For more information, contact your payroll specialist.