This year-end guide contains important processing deadlines and tax information. Please review this Year-End Guide to determine if the following information applies to your company. Please feel free to contact us with any questions at 518-363-0600.

Here are a few friendly reminders for your year-end plans…

HOLIDAY PROCESSING SCHEDULE

Priority One Payroll will be closed on the days listed below. Please contact us if you need to make changes to your input day or check date.

• Thursday, November 22nd
• Friday, November 23rd
• Tuesday, December 25th
• Tuesday, January 1st

PROCESSING DEADLINES

The deadline to process a payroll with a 2018 check date is on Friday, December 31st at 12:00 PM. All payrolls submitted after this deadline will be processed with a 2019 check date. If any adjustments are necessary after this deadline, then additional fees will apply, unless prior arrangements were made with us. Any adjustments made after 12/31/18 may result in late payments, interest, and penalties. Priority One Payroll is NOT responsible for any penalties and interest associated with these late payments. Please check with your accountant now to see if you will require any adjustments.

YEAR-END BONUSES/PAYMENTS

Please contact your Customer Service Specialist to make arrangements. PRIORITY ONE PAYROLL WILL REQUIRE YOU TO WIRE FUNDS TO OUR BANK IF ANY OF THE FOLLOWING OCCUR:

1. Any one employee’s net pay is greater than $100,000.00.
2. Total net pay for the check date is greater than $500,000.00.
3. 941 liability for the check date is greater than $99,999.99.

EMPLOYEE DATA REPORT

Please contact your Customer Service Specialist to request an Employee Data Report in order to verify the employee’s Social Security number, name, and address. Any corrections need to be submitted to us by 12/31/18. If no corrections are reported, then we will assume your W-2’s are ready to process and print. Incorrect Social Security numbers that are discovered after year-end reports are produced require correction of returns and W-2’s and will result in additional processing fees, so we encourage you to contact your Customer Service Specialist for this report prior to year-end to avoid preventable corrections and expense.

DISABILITY PAYMENTS

If you have employees that received disability payments in 2018, then send us the payment information ASAP. This information needs to be reported on the employee’s W-2. If you expect to receive disability payment information from your third-party administrator after the 12/31/18 deadline, then please contact us immediately so we can delay the processing of your tax returns and W-2’s. If you do not let us know, then additional fees will apply.

Click here to download your 2018 Year-End Guide.

If you need any additional help please contact us today at 518-363-0600.