8 Key Items to Review Before You File

The end of the first quarter is quickly approaching! For payroll filers, quarterly payroll taxes are due by April 30. Since this filing will be the first one for the year, now is the perfect time to begin reviewing your payroll to ensure that it gets off to a great start in the new year.

Whether you prepare your own or currently utilize the HBE Client Accounting Team, we encourage you to thoroughly review your payroll and make any changes or corrections as soon as possible. As you review your files, we recommend that you play close attention to the accuracy of the following:

  1. Employee name(s), spelling, and addresses
  2. Employee Income Tax state(s)
  3. Employee Social Security Number
    • IMPORTANT: Verifying an employee’s SSN may help you avoid reprocessing W-2s and quarterly filings. When an incorrect number is filed, there are fees assessed to correct the wages that would have been posted incorrectly to the wrong individual by the Social Security Administration (SSA). Additional information is available on the SSA’s website at www.ssa.gov/employer/ssnv.htm.
  4. Employee Unemployment Tax state
  5. Employee marital status and exemptions
    • A tax status of “Exempt from Withholding” indicates wages are subject to taxation and will appear on Form W-2, but tax is not withheld.
  6. Employee local tax codes (if applicable)
  7. Employee federal and state tax status
    • A tax status of “Exempt from Tax” indicates that the wages are not subject to taxation and will not appear on a Form W-2.
    • A tax status of “Exempt from Withholding” indicates wages are subject to taxation and will appear on Form W-2, but tax is not withheld.
  8. Employee year-to-date figures (remember to report any adjustments, e.g., manually issued or voiced paychecks)

HBE Becker Meyer Love LLP is available to assist you through the details of your payroll and tax filing preparation. Should you have any questions, please contact our office at (402) 423-4343.

Interested in Learning More about HBE’s Payroll Services?
From preparing checks to filing quarterly returns, the HBE Client Accounting Team can help streamline your payroll processes. Beyond the day-to-day processing tasks, our professional also relieve the burden of trying to stay on top of changing tax laws and reporting requirements. For more information, please contact our office at (402) 423-4343.

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