How can I plan for workforce taxes now?
Questions are submitted by our Workest readers. Sign up to ask an HR question of your own, and to contribute to the conversation
When it comes to the standard things, there are six key things to keep in mind.
1) Employers are required to report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act either on form W2 box 14 or in a statement provided with the form W2.
2) Ensure your employee data is up to date: name, address, dependence, et cetera.
3) Are your earnings taxes withheld and items like 401ks accurate? Check now and avoid tax amendments.
4) Company data employer address goes on the W2 along with the employer federal identification number. Make sure that this information is correct in your system. Verify that you’ve entered a tax ID and payroll for every state where your employees live or work.
5) Run a history summary to confirm W2 against samples: Moved, promoted, live or work at different locations, et cetera.
6) Make sure to verify employee social security numbers. For a more in-depth answer, you can watch this short video!
What do you think? Join The Conversation
Please login or Register to submit your answer
Recent People Operations Questions
-
What are some strategies to manage employees who work virtually?
Dec 05, 2022
1 answers
-
What are some workforce trends I should be aware of as I plan for 2023?
Oct 21, 2022
1 answers
-
How do people fit into the idea of ’emorational’ decisions?
Oct 21, 2022
1 answers
-
What should I be thinking about if I’m looking to expand my workforce globally?
Oct 21, 2022
1 answers
Most read stories
When designing a paid time off policy or managing PTO requests, take this List of Federal Holidays into account
Where do I mail my tax returns? That depends on your location. Here is our guide to each IRS mailing address, based on your state.
Learn about the characteristic differences of each generation in the workplace.
An employee handbook can be crucial in building a positive workplace culture and employee loyalty, but they’re not easy to write. That’s why we’re breaking down the process for you and offering you 7 employee handbook examples.
This website provides general information related to Zenefits services and related laws and best practices. This content and Zenefits employees do not provide legal advice. While we strive to provide useful general information applicable to the majority of our readers, we do not - and cannot - provide legal advice specific to your company and your situation. Already a Zenefits customer? Enjoy on-demand HR Advisory Services for all your HR and compliance questions. If not, learn more here.
