Fall is just around the corner and we’re approaching the end of our third quarter. As you gear up for the fourth quarter, please take some time to review the following reminders:
Submit all third-quarter info by September 26
To avoid tax penalties and re-processing fees, please submit all third-quarter data to your payroll specialist by September 26, 2016.
Ensure that your data is complete
Missing Info—Please contact your payroll specialist or review the Payroll Memorandum included in your most recent set of payroll reports for a list of missing information. Missing tax items will be shown in red.
State Unemployment Insurance (SUI) tax rate—Each calendar year, your business will be 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 may 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information, we rely on you to forward any tax rate information that you’ve received, so we can close the gap on using outdated rates. If you’ve not 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. Your state will be sending 2017 rates to you soon. Please send those via fax to your payroll specialist or the tax team.
W-2 information—Please review the final page of your most recent Employee Earnings Report for missing or invalid W-2 information. If the report shows invalid, missing or duplicate Social Security number issues, please contact your payroll specialist to provide the missing data or process corrections.
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 or bank account information.
Employee data—Personal data, payroll data or 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 Form 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 on file with 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.
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.