Difference between revisions of "Payroll: Year End"

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(2018 W2 E-File)
(Year End 2018)
 
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*There are no changes to the printed W2 form for 2018.
 
*There are no changes to the printed W2 form for 2018.
 
*There are no changes to the printed W3 form for 2018.
 
*There are no changes to the printed W3 form for 2018.
 +
*Keystone 3.5.5 has been updated with 2018 changes for e-filing W-2s.
 
*January 31, 2019 is the deadline for E-File and Printed W-2s.
 
*January 31, 2019 is the deadline for E-File and Printed W-2s.
 
*SSA.GOV W-2 information for 2018:  https://www.ssa.gov/employer/
 
*SSA.GOV W-2 information for 2018:  https://www.ssa.gov/employer/

Latest revision as of 09:53, 31 December 2018

Preliminary Notes for 2018

Year End 2018

  • There are no changes to the printed W2 form for 2018.
  • There are no changes to the printed W3 form for 2018.
  • Keystone 3.5.5 has been updated with 2018 changes for e-filing W-2s.
  • January 31, 2019 is the deadline for E-File and Printed W-2s.
  • SSA.GOV W-2 information for 2018: https://www.ssa.gov/employer/
  • ACA Reporting: See Payroll: ACA Reporting 2018 to determine if you need to file 1094/1095. Typically any employer with greater than 50 employees.

Your W-2 Filing Options

Paper W-2

Any Employer with fewer than 250 employees can print both employee copies and government copies from Keystone. Distribute W2s to employees. Mail government copies to appropriate agencies.

Keystone E-File

Use Keystone to Print W-2s for employees and to generate files for government filing. Distribute W2s to employees. Verify E-File integrity with Accuwage and then upload files to government websites. This option requires proper registration with government agencies (i.e. the IRS/SSA).

Web Services E-File

With this premium service use Keystone to prepare and upload data to our online service. For a small per-employee fee have all W-2s printed and mailed to employees and E-Filed to government agencies. See: W-2 Filing Web Service.

  • No need to purchase and print mail W-2s
  • Employees receive printed W-2s and emailed W-2s with the ability to re-print

2018 W2 E-File

  • The following states are supported by the W-2 E-File Export option: AL,CO,CT,GA,IA,IL,IN,KS,KY,LA,MA,MI,MN,MO,MS,MT,NE,OH,OK,OR,PA,RI,SC,VA,WI.
  • If you need to electronically file W-2s for a state not listed above, you must use the Federal & State W-2 Export option on the Web Portal Export/Filing menu. (This is a premium service that involves a per-employee fee.)

Tax Year 2019

  • Keystone 3.5.5 has been updated with new 2019 FEDERAL income tax rates and social security and medicare income thresholds.
  • The following state income tax rates have been updated: NY, OH.

Notes for 2018 Year End / Tax Year 2019

  • Federal and many State Tax Rates have changed for 2019. Tax Tables have been updated to reflect these changes. We recommend that you check this site several times during the year for the latest information!!!!
  • To assist with state specific tax information, please consult the following link: http://www.payroll-taxes.com/state-tax.htm
    (NOTE: GivenHansco is not responsible for the information provided on this site, we are providing this as a self-help service for our customers.)
  • Employers with more than 250 employees will need to report health insurance costs paid by the company to each employee.
    • Keystone has the ability to track these health insurance costs. Keystone payroll users have 2 options:

Also see: Health Insurance

Year End Procedures

Before Running the first Payroll of the new Year

Set Up Retirement Plan Limits

  • Run Adjust Company Definitions & Factors from the payroll Setup/Utilities Menu
  • Select the correct Link for the retirement plan.
  • Stretch the width of the screen or scroll to the right until you see the factor name for annual limit
  • Update the annual limit amount.

PR CoDefAdj 401k.JPG

NOTE: Check for changes to retirement plans for 2019

For Employees who qualify for the higher catch up limit:

  • Run Adjust Definition Balances From the Payroll Setup/Utilities menu.
  • Widen the screen or scroll to the right and find the Limit factor.
  • Set the higher limit amount. Leave Blank for all other employees.

Pr EmpDefAdj 401k.JPG


Set Up Suta Rates & Limits

Note: Not all Keystone Payroll systems are configured to calculate Suta & Futa during the payroll process.

  • Run Adjust Company Definitions & Factors from the Payroll Setup/Utilities Menu
  • Select the correct Link for the Suta Calculation
  • Stretch the width of the screen or scroll to the right until you see the factor name for annual limit and rate.
  • Update the limit and rate amounts.

PR CoDefAdj SUTA.JPG

Processing W2s

NOTE: Accuwage is designed to verify the Federal W2 E-File. Though it may work for some states, in general it should only be used to validate the Federal file. For some states, it may report errors where there are none.

NOTE: Payroll may be run in the new year before the prior year W2s are printed. Payroll runs in the new year will not affect prior year W2s.

Frequently check Keystone Help and this page for any updates

GivenHansco strongly recommends that you manually verify the numbers reported on W2/W3 forms and use the SSA AccuWage program to verify the numbers on W2 E-File Export. By submitting W2/W3 forms and W2 E-File Export data to the IRS, you are legally testifying to the accuracy of the data.

Processing ACA Forms (1094/1095)

If required continue on to Payroll: ACA Reporting 2018

Prior Year Information

Payroll: Year End 2017
Payroll: Year End 2016
Payroll: Year End 2015
Payroll: Year End 2014
Payroll: Year End 2013
Payroll: Year End 2012
Payroll: Year End 2012
Payroll: Year End 2011