If you are looking to pay your employees or contractors a Bonus for their outstanding performance, or as a gift, please read the link in this post. ADP has a very informative Blog going with some great tips. Click here to read what they have to say about Holiday Bonuses.
Intuit has put together their annual checklist for Employers and Payroll Processors that use Intuit Payroll.
- Dec 11, 2014 (Recommended): Check direct deposit submission and payroll dates.
- Dec 29, 2014 5 PM (PT): Last date to submit direct deposit checks for 2014.
- Before year end: Confirm each employee’s social security number, name, and address.
- Before year end: Record all paychecks including handwritten, termination, unscheduled, commissions, and bonuses.
- Before year end: Check your mail for SUI rate or deposit schedule notices.
- Before first payroll: Update state unemployment insurance (SUI) rates effective Jan 1, 2015.
- Before first payroll: Ask employees to submit new W-4 forms for status/withholding changes.
- Before filing Form 940: Record all SUI payments.
- Jan 31, 2015: Last date to distribute W-2s to employees and 1099-MISC forms to contractors.
- Jan 31, 2015: File other federal forms including 940/941.
- Due dates vary by state: File annual state forms.
- Feb 28, 2015: Last date to file employees’ printed W-2s and contractor 1099-MISC forms with the agency.
If you are e-filing, W-2 forms are due by Apr 1, 2015 and 1099-MISC forms by Mar 31, 2015. In mid-March, start sending W-2 information in batches to the agency.
Checklist Courtesy of Intuit Online Payroll.