For 2017, Forms W-2 and 1099-MISC must be filed by January 31, 2018.
Savers Admin is committed to meeting this important deadline on behalf of our clients. We understand that tax time is a very confusing time of the year. To help alleviate the confusion and streamline the process, we’ve created a timeline for our clients. Closely adhering to this timeline will ensure that they are meeting the critical deadlines that allow them to remain in compliance with state and federal guidelines.
Due by last scheduled pay date of 2017
The following information will be due no later than your last scheduled pay date of the year:
- Employee Demographics Review– To ensure the accuracy of your 2017 W-2 forms, Savers Admin will send you an Employee Verification Report. This report lists all of your employees who received wages in 2017. It includes their full name, address and social security number. This report will be included with your payroll reports on your last pay date in November. Please be on the lookout for this report!
- Any Year End Adjustments—These adjustments include Group Term Life, Fringe benefits, additions for 2% Shareholders, personal use of company car and mileage/car/housing reimbursement or allowances etc. To determine whether a particular fringe benefit is taxable in your particular situation, please consult your tax advisor or accountant.
- Unemployment Tax Rate Notice Due—You will be receiving a notice from your state’s unemployment division that will provide you with your company’s 2018 unemployment tax rate. If you file in multiple states, please be sure to send copies of all notices you receive. If you have not received your notice(s) by December 15, 2017, please contact us immediately so we can help obtain it.
Note: Some clients may also receive a 2018 Federal Tax Deposit Requirements notice from the Internal Revenue Service and/or a Notice of Change in Filing Frequency from your state(s) Department of Revenue. However, if your deposit schedule doesn’t change for 2018, they will not send you a new schedule. Please don’t be alarmed if you don’t receive a new deposit schedule.
To our payroll clients: If you receive a notice of ANY kind, it is vitally important that you send a copy of it to your Savers Admin payroll processor.
Due no later than January 24th, 2018
Annual Summary of Disability Payments—
Employers must report any taxable or non-taxable sick pay that employees receive from a third-party provider if that provider does not file a W-2 for the affected employee. This would include any payments made to an employee by an insurer or similar entity due to an injury or illness which resulted in the employee being unable to work.
1099 Information – The information needed to process 1099’s should be submitted no later than January 24th 2018.
Due no later than January 31st, 2018
Employers must distribute Federal and State W-2s to their employees no later than January 31, 2018.
Please understand that additional fees will be charged for items received after their deadline.