3rd Week in Jan - Agencies complete Manual YTD Adj. to be included on 941. Remember to check if a W-2C will be required. Adjustments will not be included on W2 processed by OFM in W-2 processing.
Jan 31st - IRS Form 941 for 4th quarter of the previous year is due. Revalidate all IRS Forms 941/941X/W-2/W-2c are in balance prior to sending.
2nd Week in Jan - OFM will initiate statewide W-2 processing.
3rd Week in Jan - Final chance to issue and file any last minute correction forms.
3rd Week in Jan - Execute the fourth quarter Federal Tax Report form 941. All manual YTD adjustments input after executing your agency's IRS 941 production run will not be included. Please verify the manual adjustments through the Tax Reporter Log Manager (manual adjustments ignored).
3rd Week in Jan - Enter Generation Date for 941.
1st Day 4 in Dec - Balance 941 to W-2.
Final Day 4 in Dec - Balance 941 to W-3. Add each 941 quarterly total to ensure this amount matches your W-3 total for the year.
Mid-December - Verify that accounts payable has all IRS Form 1099-MISC data needed for amounts paid to the claimant of deceased employees' estates.
1st Day 4 in Dec - Research and correct employees locked out of 12/10 payroll. Prepare for pay period 24, Payroll and Tax Reporter roles should work together to ensure everything is in balance.