2019 Year End Processing Webinar
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The document provides information about DATIS's 2019 year-end processing webinar which covers holiday processing schedules, reviewing and approving W-2 and 1095-C forms, notes on various boxes on the W-2 form, delivery options for forms, and notes for 2020 including state unemployment insurance rates and changes to the W-4 form. The webinar overview discusses payrolls that should be processed by December 24th and 31st for on-time payments, W-2 and 1095-C approval deadlines, and holding year-end processing until January 7th, 2020.
2019 Year End Processing Webinar
- 1. 877.386.1355 | www.datis.com | info@datis.com 401 East Jackson Street, Suite 1550 | Tampa, FL 33602 Client Webinar: 2019 Year End Processing
- 2. • Holiday Processing Schedule • W-2 Review • 1095-C Review • Processing and Delivery of Forms • Additional Notes • Wrap Up and Questions WEBINAR OVERVIEW 2019 YEAR END PROCESSING
- 3. Wednesday, December 25th, 2019 and Wednesday, January 1st, 2020 are both observed holidays of which banks and DATIS will both be closed. Payrolls should be processed by 12:30pm (Eastern Time Zone ET), on Tuesday, December 24th, 2019 and Tuesday, December 31st, 2019 for shipments and direct deposits to be issued on time. Please ensure that funding is allocated to your payroll bank account one business day earlier than your usual schedule, as DATIS will be pulling payroll funding earlier due to the bank holiday. E3 clients may still use the system to preview and process their payrolls online when DATIS is closed. 2019 YEAR END PROCESSING HOLIDAY PROCESSING SCHEDULE
- 4. Please advise DATIS before January 3rd, 2020 if you anticipate any additional 2019 payrolls or other adjustments that you need us to include in your employees’ W-2s after your final scheduled payroll for 2019. Examples of other adjustments include: • Group term life insurance coverage that has not been previously recorded in the employee’s history • Third party sick pay that has not been previously recorded in the employee’s history • Company-provided automobiles used partially or entirely for personal use • Employer liability medical that has not been previously recorded in the employee’s history We are happy to hold your year-end processing up to Friday, January 7th, 2020. 2019 YEAR END PROCESSING W-2 AND 1095-C APPROVAL DEADLINES
- 5. 2019 YEAR END PROCESSING W-2 AND 1095-C REVIEW • Navigate to Admin> Payroll Processing> Tax Returns> W2 and Related Returns • Select the appropriate year • After reviewing each document, click “Approval All Returns” • Note: This approval button approves both Form W-2s AND Form 1095-C
- 6. 2019 YEAR END PROCESSING W-2: BOXES A-E Review employee and employer information to ensure names, addresses, and identification numbers are accurate
- 7. 2019 YEAR END PROCESSING W-2: BOXES 1-8 Review Federal, Social Security, and Medicare wages taxes withheld. We recommend you review by comparing to the data in e3 Company Labor History.
- 8. 2019 YEAR END PROCESSING W-2: BOXES 1-8 COMPANY LABOR HISTORY Navigate to Admin> Financial> Company Labor History Select Parameters: • Taxes • Amount • Employer Liability • Wage Base • Show Codes • Show Employee • Use beginningandend date of tax year
- 9. 2019 YEAR END PROCESSING W-2: BOX 10 Navigate to Admin> Financial> Company Labor History Select Parameters: • Taxes • Amount • Employer Liability • Wage Base • Show Codes • Show Employee • Use beginningandend date of tax year
- 10. 2019 YEAR END PROCESSING W-2: BOX 12 Refer to the W-2 General Instructions for assistance with the required codes for Box 12 of your W-2s. Commonlyused codes: • DD: Cost of employer sponsored health coverage • C: Taxable cost of GTL • D/E/H: Compensation Deferrals • K: Non-taxable 3PSP • L: Employer business expense reimbursements • W: Contributions to HSA
- 11. 2019 YEAR END PROCESSING W-2: BOX 13 StatutoryEmployees: Review W-2 general instructions at https://www.irs.gov/pub/irs-pdf/iw2w3.pdf for applicable classifications of Statutory employees. Retirement plans-Employee partipated in 401(k),403(b), etc: Review W-2 general instructions for employee qualifications as “active participant”, as well as applicable plans. Third PartySick Pay : Employer is reportingsick pay payments made by a third party.
- 12. 2019 YEAR END PROCESSING W-2: BOX 14 Other amounts: May be used for vehicle leases, service tax, state disability, union dues, etc.
- 13. 2019 YEAR END PROCESSING W-2: BOXES 15-20 Review employee state and local tax wages and amounts. This can be reviewed against the Company Labor History report
- 14. 2019 YEAR END PROCESSING Review employee information, offer of coverage codes and amounts, safe harbor codes, and the listing of covered individuals on the employee’s health plan. 1095-C
- 15. 2019 YEAR END PROCESSING ADDITIONAL YEAR END NOTES DATIS can provide employer copies of employee W-2s in PDF format on a CD-ROM for a charge of $400. The W-3 is generated by DATIS through an uploaded server file with the tax agency, which does not create a W-3 form, but a W-2 summary will be available and shipped with year-end packages by January 31st, 2020.
- 16. 2019 YEAR END PROCESSING Shipment Method 1: FEDEX W2s and Form 1095-Cs will be delivered to you inserted in confidential packaging and sealed. They will be ready for distribution to your employees. All employees who have elected to receive an electronic W-2 and Form 1095-C will receive an automated email notifying them when their W-2 is available online in e3 web; you will not receive a paper copy for employees who have elected electronic delivery. Shipment Method 2: Post and Mail DATIS can send your employees’ W-2s and 1095-Cs with first class postage and mail the documents directly to your employees with your return address. The cost of this service is $0.75 per W-2; a $10.00 minimum per company applies. If you would like this service, please call us and request DATIS Post and Mail service for your W-2s. You will still receive your employer W-2 Copies as usual. PROCESSING AND DELIVERY OF FORMS W-2 and 1095-C
- 17. 2019 YEAR END PROCESSING State UnemploymentInsurance: If you have a state assigned unemploymentinsurance experience rate (SUI), please be sure to forwardus your SUI rate for each state for which you have an unemploymentaccount, prior to processingyour first 2020 payroll check. Form W-4 Update: BeginningJanuary1st, 2020, employees fillingout a Form W-4 will see a new format in e3 due to substantial changes of the form from the prior year. A new Form W-4 wouldneed to be filledout for: • Employees hiredin year 2020 • Employees making withholdingchanges during2020. • Employees marking“Exempt” for 2020 Federal Income Tax. If an existingemployee does not submit a new 2020 Form W-4, the submitted form from prior years will be used to calculate withholding; However, DATIS recommends that users complete the tax withholdingestimator in www.irs.gov/W4Appto review whether a new W-4 should be submitted. 2020 TAX NOTES
- 18. 877.386.1355 | www.datis.com | info@datis.com 401 East Jackson Street, Suite 1550 | Tampa, FL 33602 QUESTIONS? Let’s Talk! e3support@datis.com 877.386.1355