Early-Nov - Review the current year Tax Reporter production runs for 941s to ensure all quarters have been executed and generation dates entered correctly.
3rd Week in Jan - File Year End forms with federal, state and local tax authorities.
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.
2nd Week in Jan - Target date for new LNI Rate implementation. Once implemented, agencies will need to verify rates.
Mid-Jan - Ensure that all IRS Forms 941/941X/W-2/W-2c are in balance prior to sending off IRS Form 941 for 4th quarter. Forms are due January 31st.
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.
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.
Early-Dec - Prior to the first payroll run for the upcoming year, identify and clear all existing overpayments or claims from current year. A current period claim is processed through wage type /561 and a claim from through wage type /563 in payroll processing. Claims can be identified easily running the Wage Type Reporter.