Page 3 - Payroll Year-End Planning & Checklist

8 Steps Payroll Year-End Checklist

01 Preview
current-year
W2 and
employee 02
Celebrate data (Oct)
08 Year-end Identify any
completion
State changes
to withholding
methods (Nov)
Verify new
wage bases
and rates are
included in 03
Payroll Schedule testing
system of Form W-2,
07 Box 12, special
codes (Dec)

Verify State Tax
Unemployment withheld
insurance using new
notices (Mar) formulas 04
File annual on first pay
Form 940 by
1 Quarter 06 Feb 10 (Feb) for the 4 Quarter
th
st
year. (Jan)
Ensure new benefits 05 Make preparations for
enrolment is Year End tax

complete, new tax reporting, W-2 issue
rates are updated for and payroll accruals

payroll