It’s near the end of the year. Payroll is starting to wrap up for this year. Here are some important dates to help you with this task. If you need help, please be sure to contact a professional.
Do by 12/1/2015: Remind employees to give you an update on their filing status. Make sure S.S. numbers and Employee names and addresses are correct.
Do by 12/31/2015: Check all S.S. withheld to make sure it is correct with payments to S.S.
Do by 1/1/2016: Update wage tax payroll liability percentages before doing first payroll. Finish 4th quarter payroll liabilities and pay.
Do by 1/15/2016: Review any un-cleared paychecks and to void and reissue before process W-2s 2015. Review total taxes withheld and S.S. /Medicare wages reported on 2015 Quarterly 941s equals the totals 2015 W-2s.
Do by 2/1/2016: Send out prior to this date the W-2s and 1099-misc info.
Do by 2/10/2016: Complete and send out all 940 and 941 returns to report prior to date.
Do by 2/29/2016: Send in all annual W-2 reconciliation reports by this date. Paper W-2s Copy A and W-3 are due to the SSA.
Paper 1099-Misc, W-2, 1099-R, W-2G and 1096 are due to the IRS.
Do by 3/31/2016: Electronic 1099-misc and 1096, copy A, due at the IRS; electronic W-2, copy A, due at the SSA; and forms 1099 and W-2G due at the IRS.
I hope this helps you get your payroll submitted on time. Remember, get help if you have any issues. There are many professionals out there. Don’t forget to get referrals from their clients. Here is an infographic for you share.
If you find this information isn’t correct, please let know me as soon as possible. I will be sure to make the change. Thank you.