W-2's - Are You Ready For Year End?

It is getting to be that time of year to prepare for your year-end payroll processing.  Have you ever been a lucky recipient of a letter from the Social Security Administration stating that you have reported incorrect names or social security numbers on your W-2's?  Do you have a process in place to ensure you don't receive this letter? 

Here is a link to a list of good business practices to ensuring your are issuing correct W-2's.  http://www.ssa.gov/employer/critical.htm.

Stay tuned... my next blog post is on reporting minister wages.

Comments

[Nina Davis]

Autum,
When will you post the blog on ministers' compensation?
Questions I have are what box(es) for utilities, housing, personal contribution to pension and accountable reimbursement??

[Autum Awalt]

I have added a post today for Minister's W-2. I did not specifically address personal contribution to pension plan or accountable reimbursements. Generally, any payment made to an employee under an accountable reimbursement plan adopted by the organization is not included in income on the W-2. The pension plan contribution depends if it is to a 401(k) or 403(b). If so, you show it on Box 12. If not, then it doesn't go on the W-2. Call me if you have any questions.