As the end of the calendar year approaches, there are many tasks that need to be completed for a successful year-end and for the transition into the new year. In order to assist with your year-end planning, ADP provides you with information that is useful in ensuring an efficient and error free close to the year. Throughout the year-end process we will provide you with helpful year-end communications each month. To ensure a successful year-end, it is important that you carefully review these communications.
Your Comprehensive Services Team is committed to partnering with you for a successful year-end. Please take a moment to complete the “2016 Year-End Readiness Survey” by clicking the link below. Your participation will enable us to better assist you during this critical time of year.
https://www.surveymonkey.com/r/HCYSSST
To aid you in year-end preparations, we are pleased to offer Year-End Webinars for our Comprehensive Services clients. These valuable webinars are offered at no charge to you and will guide you through information to help ensure a smooth year-end process for you and your organization. We encourage you to take advantage of this valuable training. Please see the email titled “Year-End Questions? Enroll in a Year-End Webinars!” distributed on September 21, 2016 and register for a 2016 webinar by clicking on the sign up link in the announcement.
The first of four installments of the ADP Year-End Booklet will be delivered with payroll reports in early October. This is the first of four communications we hope will assist you over the next four months as you complete processing for 2016 and begin the 2017 calendar year. Each booklet is based on activities that need to begin or be completed during that month. For your convenience Year-End Booklets will also be available online by accessing the ADP Support Center.
A Quarterly Tax Verification letter is sent during the middle of each quarter. This letter prompts you to verify the tax information ADP currently has on file for each of your company codes. A copy of the Tax Verification Letter will be included in your payroll package or can be found online through ADP iReports. It is imperative that you verify the information contained in the letter to ensure the accurate and timely preparation of your quarterly and annual tax reports. Please review the information contained in the following three sections of the Tax Verification letter, paying close attention to your tax identification numbers,: Company Level Information, Tax Features of the Company, and Company Features and notify your Comprehensive Services Team with any changes that need to be made..
Periodically you may receive State Unemployment Insurance (SUI) Rate Change Notices directly from the state agencies. It is very important that this information is communicated to ADP. In order to avoid agency assessments or penalties and interest, upon receipt, rate changes should be updated by accessing the ADP Support Center.
ADP will produce the Preview Wage & Tax Register and Forms W-2 in early December. By using the ADP iReports feature, these documents will be available for your review through iReports. These reports are an extremely valuable tool that will provide you the opportunity to preview your quarter and year-end reports prior to the last payroll of the year. It is important for you to review these reports, upon receipt, in order to reconcile and complete adjustments prior to your final payroll.
- Cost of Health Care on Forms W-2
The Internal Revenue Service (IRS) reminds employers to report Health Care Coverage Values on Form W-2. This is mandatory for certain employers effective with tax years beginning in 2012. IRS Notice 2012-9, Interim Guidance on Informational Reporting to Employees of the Cost of Their Group Health Insurance Coverage, provides detailed information regarding who is required to report this information, as well as how to calculate the reported amounts. ADP has established the necessary payroll accumulator and memo code for this feature. Should you determine that your organization is required to include this information on the 2016 Forms W-2, your Comprehensive Services Team is available to assist you with these reporting requirements.
Please click here to review the detailed IRS information.
We appreciate your business and are committed to providing you with the best possible solutions and services to meet your needs during year-end and throughout the upcoming year. If you have any questions or concerns, please do not hesitate to contact your Comprehensive Services Team with any questions.