2nd Quarter Close is Coming Soon!

The quarter will be closing on June 29, 2018 and it’s that time again: to help you avoid costly amendments, review the following reminders and provide updates impacting Form W-2 to your Payroll Service Representative by June 26. Click here to view the penalties and interest that may apply if this information is not provided in a timely manner. The following activities will help us ensure that you are compliant:  

• Provide copies of company-issued manual checks written during this quarter to your Payroll Representative. 
• Let us know if you have issued any checks during this quarter that should be voided. 
• Make sure all outstanding terminations have been completed. 
• Check that your Paid Time Off policies are accruing accurately. 
• Report any imputed income, such as gift cards or personal use of a company car, in a payroll batch using Deduction Code ‘Y’. 
• If you offered benefits to your employees prior to joining the TotalSource benefits plan, you may need to report that information on your employee Forms W-2.