1st Quarter Close is Coming!

The quarter will be closing on March 29, 2019. It’s that time again where you should review the following reminders and provide updates impacting your employees’ Forms W-2 to your Payroll Advisor by March 26th to help you avoid costly amendments. Click here to view the penalties and interest that may apply if this information is not provided in a timely manner.

• Provide copies of any company-issued manual checks that were written during this quarter to your Payroll Advisor.
• Let us know if you have issued any checks during this quarter that should be voided.
• Make sure all outstanding terminations have been keyed.
• Check that your Paid Time Off policy is calculating accurately.
• Report any taxable fringe benefits amounts in a payroll batch using ‘Deduction Code Y’
• Remind your S-Corp shareholders that their quarterly taxable fringe for health benefits will be processing soon.
• If you offered benefits to your employees prior to joining the TotalSource benefits plan, you may need to report information on your employees’ Forms W-2.

Be sure to review your Easy Quarterly & Year-end Guide to stay up to date with important announcements.