Information You Need Federal | ACA | HR | State August 2018
New IRS Accuracy Penalties May Apply to Forms W2 and Forms 1095
Recently, the Social Security Administration began mailing informational notifications, SSA-EDCOR Letter , to businesses who submitted wage and tax statements (Form W-2) that contain name and Social Security number (SSN) combinations that do not match their records. There are a number of reasons why reported names and SSNs may not agree with SSA’s records, and they encourage employers to register for the FREE Business Services Online (BSO) to ensure the accuracy of wage reporting.
SSA’s “Educational Correspondence” Web Page provides resources to assist employers:
- How to register for Business Services Online (BSO).
- How to use BSO’s Social Security Number Verification Service.
- How to find errors in BSO.
- How to work with your employee to resolve the error. Sample letter
- How to fix errors using W-2c.
- Frequently asked questions
Accuracy penalties may apply to IRS Forms W2 and IRS Forms 1095. Under Internal Revenue Code (IRC) 6721 and/or 6722, again, accuracy penalties may apply if correct forms are not filed including name and SSNs that do not match current government databases. Penalties may be assessed on each incorrect form and could exceed $6.5 million annually.
Best practice recommends reviewing each employee’s and dependent’s name and social security number.
ACA Reminder
As we prepare for the 2018 Tax Filing Season, now is a good time to review and make any updates to your ACA information within the system. Best practice guidelines recommends verifying each employee’s name and Social Security number along with each dependent’s name and Social Security number. Also, are your Benefit Plans and Rate information up to date? Please contact your CSR if you have questions or need assistance.
HR Help by PPI Monthly Newsletter:
PPI Business Services is excited to provide you with this Monthly Employment Law Update Newsletter to bolster your existing Human Resource knowledge base, update infrastructure, and update Federal and State Laws.
September 2018 Holiday Reporting Dates
Our Offices, Banks, and Couriers will be closed Monday September 3, 2018 as it is a Federal non-processing day.
| Non Processing | Input on | For a Check Date of | OR | Input on | For a Check Date of |
| 09/03/2018 | 08/29/2018 | 08/31/2018 | OR | 08/30/2018 | 09/04/2018 |
Please Contact Customer Service in advance with any questions and/or to make changes to your input schedule.
October 2018 Holiday Reporting Dates
PPI will be open as a non-processing day. Banks and Couriers will be closed Monday October 8, 2018 as it is a Federal non-processing day
| Non Processing | Input on | For a Check Date of | OR | Input on | For a Check Date of |
| 10/08/2018 | 10/03/201 | 10/05/2018 | OR | 10/04/2018 | 10/09/2018 |
Please Contact Customer Service in advance with any questions and/or to make changes to your input schedule.
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- Onboarding
- Time & Attendance
- Insurance Benefits Enrollment plus Carrier Connect
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- and more…give us a call at 800-272-9765 for information
PPI Refresher Classes Are Here!
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Employee Management and Payroll Training
Enjoy free online classes each week to hone your existing skills, and to learn useful tips that can make your workforce management process easier. The Employee Management/Payroll Training classes are held weekly: Tuesdays at 1:00 PM (Pacific).. -
Human Resources
Learn how to track vital employee information with the Human Resource section. We offer a 1- hour class held the 3rd Thursday of every month at 10am (Pacific). -
Take Control of Your Reports!
View your data the way you want to see it. We are offering a 1-hour Report Writer class held on the last Tuesday of the month at 10am (Pacific). Learn how to change your view of your Workforce Management data. Report Writer is a simple tool that can positively impact your processes. Once you pick up a few tips in class, it is even easier and more useful! -
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Class sizes are limited, so be sure to call 888.380.1869 or email coresupport@payrollpeople.com to register with a Customer Service Representative!
