Page 12 - Payroll Year-End Planning & Checklist

8 Steps – March Activities

01 Preview 08
current-year
W2 and Quarterly
employee 02
Celebrate data (Oct) Reconciliations
08 Year-end Identify any
State changes
completion
to withholding • Plan for quarterly
Verify new methods (Nov)
wage bases reconciliation for the
and rates are new year tax rates, tax
included in 03
Payroll Schedule testing payments made
system of Form W-2, • Verify and ensure all
07 Box 12, special
codes (Dec) tax forms are correctly

Verify State Tax filed and no variances
Unemployment withheld with actuals and filed
insurance using new
notices (Mar) formulas 04 forms.
File annual on first pay • Celebrate Year-End
06 Form 940 by for the completion with Team
year. (Jan)
Feb 10 (Feb)
05