Year-end checklist for employers
Have you reported the following information?
- All payroll checks issued in-house
- Voided checks
- Employee pension information
- Group Term Life adjustments
- Tax deposits made for an amount other than the amount on the deposit notice
- Tip allocations for TEFRA
- Other compensation adjustments paid to employees that need to be included on employee W-2s
- Taxable fringe benefits\Third-party sick pay benefits
- Educational assistance reimbursements
- Identification numbers for every tax agency
Have you double checked the following?
- Are employee names and addresses correct?
- Do all employees have valid social security numbers?
- Do all 1099 payees have valid social security numbers or Taxpayer ID
- Are the correct identification numbers printed on every return?
For more information on year-end planning, contact your ShindelRock tax professional.