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  • 2024 W-2 FORM FAQs

    2024 W-2 FORM FAQs

    Preparing End Tax information form & Frequent asked questions:

    • Question: My Social Security Number is Wrong

    Please email the employee code, employee name and correct Social Security Number to tax@payplusllc.com. DO NOT UPDATE IN SYSTEM. PayPLUS staff member will do this to ensure special procedures are followed. A corrected Form W-2c will be provided to you to give to the employee. The employee will need both the original Form W-2 and corrected Form W-2c to file their personal taxes. Please note, the fee for a Form W-2c is $25.00 for each year affected. Any further corrections to Unemployment and/or Income Tax filings may require additional fees. Corrections will be processed after February 15th.

    • Question: My name is not correct

    Employee has gotten married, and their updated name is not on the Form W-2. Their previous name is still linked at the Social Security Administration with the Social Security Number on the Form W-2 there is no need to update the name.

    On Form W-2 if an employee’s name is incorrect, it would have also been incorrect on paychecks issued to them. If you determine that it is incorrect, please email the employee number, employee name in the system and correct name to tax@payplusllc.com. DO NOT UPDATE IN SYSTEM. PayPLUS staff member will do this to ensure special procedures are followed. A corrected Form W-2 will be provided to you to give to the employee. Corrections will be processed after February 15th.

    • Question: No Federal withholding in Box 2

    Employee Form W-2 does not show any Federal withholding in Box 2. The withholding is driven by the Form W-4 submitted by the employee for each payroll calculation based on their elections selected when completing the form. The employee can review their withholding on each payroll check and if enough is not being taken it would be their responsibility to submit an updated Form W-4.

    • Question: Social Security and Medicare over calculated?

    Employees who are processing their own taxes through an on-line platform may call to indicate that they were over withheld on Social Security and Medicare. The platforms advise employees to contact the employer. Before contacting us, please have them double check their entry as that is normally the issue.

     

    • Question: Wages reflected on Form W-2 don’t match last paycheck?

    Wages on the paycheck are all gross wages paid to an employee. Wages reflected on Form W-2 are the taxable wages paid to an employee. The W-2 will be less than the gross due to removing non-taxable wages. Examples of non-taxable wages are reimbursements, mileage, health insurance, section 125, pre-tax items, etc.

    • Question: Employees’ addresses

    The address on the Form W-2 does not have to match their current address to file their personal income tax returns and does not require a correction.

    • Question: I didn’t get a Form W-2

    Remember the wages become reportable on a Form W-2 when they are payable to an employee. Therefore, if an employee works from December 16th to 31st and is paid in January of the following year the wages are not reportable on the 2024 Form W-2, but the 2025 Form W-2.

    • Question: Where can I get another copy of Form W-2 for an employee?

    Copies are provided in a PDF to authorized tax contacts within your office. In most cases, they are only provided to the owner unless otherwise advised. If the owner would like to have a separate file that includes non-Administrative employees only there will be a charge of $50.00 to produce the file. These files are manually generated and will be provided within two weeks of the request.

    • Question: Turbo Tax Entry for the Control Number?

    Control numbers provided on the Form W-2 are not needed to be entered into Turbo Tax when filing personal tax returns. Please advise employees to leave blank.

    • Question: Company Address on multiple locations

    The address reflected on the Form W-2’s is the legal address of the business and may be different than what is reflected on the payroll checks.

    If you have any additional questions, please email to tax@payplusllc.com.

  • Key Employee Experience Investments for 2025: Enhancing Engagement and Efficiency

    Key Employee Experience Investments for 2025: Enhancing Engagement and Efficiency

    Key Employee Experience Investments for 2025: Enhancing Engagement and Efficiency

    As the holiday season kicks off, many organizations are also deep into budget planning for 2025. A crucial focus this year? Investing in employee experience (EX).

    Employee experience (EX) remains a top priority, with 91% of HR leaders committed to improving it within their companies. In the latest 2023-24 Voice of the Workforce Survey, more than 1,100 full-time employees shared what matters most to them. Based on their responses, here are key investments for 2025:

    Empowering HR Software

    Employees want control over HR, benefits, and payroll tasks—71% would like self-service options. Offering user-friendly tools like employee self-service and HR chatbots empowers employees to access information quickly and independently. This also lightens HR’s load, allowing more focus on strategic projects.

    Streamlined Benefits Enrollment

    With 47% of employees finding the benefits election process stressful, there’s a clear need for simplification. Top requests include cost analysis of benefit plans and clearer communication. Investing in technology that breaks down costs in real-time and rolling out structured communication plans can help employees make informed decisions with ease.

    Reliable Payroll

    Accurate, timely payroll is foundational to a positive EX. Over half of employees (55%) say payroll errors could lead them to consider other jobs. Reliable payroll software is essential to ensure error-free, prompt payments. Additionally, exploring flexible pay options, like on-demand pay, can enhance EX, with 50% of employees expressing interest in accessing wages as they earn them.

    Investing in Employee experience (EX) keeps organizations competitive and strengthens retention—vital in today’s evolving workforce. At PayPLUS, we’re committed to enhancing employee experience (EX) by equipping our clients with advanced tools that solve challenges, support business goals, and foster a strong EX within their organizations.

    Have questions or ready to dive in on how we can help with your key employee experience for 2025 engagement enhancement and efficiency, give us a call at +1 (866) 210-0903.  We are happy to help.

  • Tax Season is around the corner. Protect yourself from tax scammers.

    Tax Season is around the corner. Protect yourself from tax scammers.

    Tax Season is around the corner. Protect yourself from tax scammers.

    As tax season approaches, so does the rise of tax scammers who are honing their deceitful techniques. Stay ahead of them by familiarizing yourself with their preferred and most successful methods. Here’s a guide on how to safeguard yourself this year:

    1. Phone Calls:

    Be cautious of unexpected calls claiming to represent the IRS or another government agency. The caller might assert that you owe taxes, risking arrest if not paid immediately. In some cases, they may mention the suspension of your Social Security Number, prompting you to confirm it.

    Remember:

    • The Social Security Administration (SSA) and the IRS do not threaten benefits or involve law enforcement.
    • Never share personal information over the phone, even if the caller knows the last four digits of your Social Security Number.

    What You Can Do:

    • Confirm your tax status on the IRS website.
    • Verify information by calling the IRS (1-800-829-1040) or SSA (1-800-772-1213).
    1. Emails:

    Beware of phishing emails posing as official IRS communications. These emails may contain links that lead to fake websites designed to capture your personal information.

    What You Should Know:

    • The IRS communicates only through the United States Postal Service.
    • Fake IRS emails may have catchy subject lines and spoofed sender addresses.

    What You Can Do:

    1. Tax Preparation:

    Fraudulent tax preparers promise substantial refunds but may add fake deductions or credits to your return, leading to consequences like more taxes, interest, and penalties.

    What You Should Know:

    • Legitimate tax preparers sign your return and provide their Preparer Tax Identification Number.
    • Scammers may demand cash payments without issuing receipts.

    What You Can Do:

    • Find a qualified tax professional listed on the IRS Directory.
    • Review your return for accuracy and verify your bank information.
    1. Identity Theft:

    If scammers obtain your Social Security Number, they can file a tax return in your name, claiming a refund that rightfully belongs to you.

     

    What You Should Know:

    • Regularly check your Social Security statement against your actual earnings.
    • Filing your return early reduces the risk of scammers filing before you.

    What You Can Do:

    • Contact the Taxpayer Protection Program at 1-800-908-4490 if your return is rejected or if you suspect identity theft.
    • Take immediate steps to address identity theft, including contacting credit bureaus and filing a complaint with the FTC.

    Have questions on how we can help with your Payroll & tax preparation, give us a call at +1 (866) 210-0903.  We are happy to help.

  • PayPLUS 2024 Guide to Effortless Payroll & HR Transition

    PayPLUS 2024 Guide to Effortless Payroll & HR Transition

    PayPLUS 2024 Guide to Effortless Payroll & HR Transition 

    Businesses were gearing up for the annual ritual of year-end payroll and HR preparations and preparing for 2024 plans. Ensuring a smooth transition into the new year is vital for every organization, and PayPLUS presents a 2024 guide to help ease through the process with our comprehensive payroll and HR solutions.

     

    1. Reflect on the Year’s Payroll:

    Before diving into year-end preparations, take a moment to reflect on the past year’s payroll processes. PayPLUS’s easy-to-use reporting features allow you to access essential information at a glance, enabling you to identify areas for improvement and make informed decisions for the upcoming year.

    1. Streamline Tax Management:

    Year-end means it’s time to wrap up your tax responsibilities. With PayPLUS, you can confidently navigate federal, state, and local tax regulations. Our software maintains tax rates, brackets, and statutory limits, ensuring you’re well-prepared for tax season. Say goodbye to tax-related headaches and welcome the new year with peace of mind.

    1. Prepare for ACA Compliance:

    Affordable Care Act (ACA) compliance is crucial to year-end preparations. PayPLUS provides a comprehensive suite of tools and reports to assess and report on employees’ eligibility status. From Forms 1094 B/C to ACA Full-Time Employee (FTE) Reports, your ACA obligations are covered.

    1. Update Employee Records:

    Ensure your employee records are up to date for a seamless transition into the new year. PayPLUS’s Employee Portal empowers your employees to manage their information, reducing the burden on HR. From personal details to W-2 information, our self-service functionality simplifies the year-end process for employees and administrators.

    1. Simplify General Ledger Integration:

    As you prepare for the new fiscal year, streamline your reconciliation process with PayPLUS’s seamless integration with your General Ledger. Whether you use QuickBooks Online or other accounting systems, our software ensures that payroll data flows effortlessly, eliminating the need for manual data entry.

     

    1. Plan for the Future:

    Year-end is not just about closing the books; it’s an opportunity to plan for the future. With PayPLUS as your payroll and HR partner, you can strategize for the upcoming year, confident that your human capital management is in expert hands.

    As gearing up for 2024 plans, trust PayPLUS to be your strategic partner in navigating your new year payroll and HR preparations. From tax management to ACA compliance and beyond, our solutions are designed to make the transition seamless and stress-free.

    Ready to take charge of your 2024 preparations? Call PayPLUS at +1 (866) 210-0903 and empower your business for success in the upcoming year.

  • Learn The 6 Ways On How To Be More Efficient With Payroll and Tax

    Learn The 6 Ways On How To Be More Efficient With Payroll and Tax

    Learn The 6 Ways On How To Be More Efficient With Payroll and Tax

    In the fast-paced business world, managing payroll and taxes efficiently is crucial for the success of every enterprise. Small and medium-sized businesses often face challenges in navigating the complexities of payroll processing and tax compliance. At PayPLUS, we offer a comprehensive suite of payroll and tax solutions designed to streamline processes, ensure compliance, and boost overall efficiency. Let’s learn how:

    1. Save Time and Money with Seamless Integration:

    One of the critical advantages is to have a streamline process with the help of advanced tools. With PayPLUS solution, it gives businesses the ability to save both time and money. Businesses can now focus more on their core operations by streamlining payroll and tax management that seamlessly integrates with your General Ledger, including popular platforms like QuickBooks Online and time & attendance solutions, reducing duplication of information and ensuring data accuracy.

    2. Compliance and Security:

    A top business priority is ensuring compliance with the Affordable Care Act (ACA) and payroll tax legislation. With PayPLUS, gain peace of mind knowing that your payroll is 100% compliant. The tools adheres to the highest security standards, securely hosting and protecting applications and data. Regular audits, including SOC1 Type 2 and SOC2 Type 2 audits, guarantee that necessary controls are in place, providing a secure environment for your data. PayPLUS also fully complies with privacy standards such as the Health Insurance Portability and Accountability Act (HIPAA).

    3. Efficiency and Accuracy in Payroll Processing:

    Our tax professionals continuously update the tax management engine, ensuring you never have to worry about tax rates again. Whether you’re a payroll professional or a small business owner, we offer a solution tailored to your needs.

    4. Easy-to-Use Reporting for Informed Decision-Making:

    Accessing critical business information is crucial for informed decision-making. PayPLUS provides easy-to-access reports on pay, taxes, deductions, PTO, and general ledger interface reports. We can help validate your payroll data, provide you resources to have a better understanding of your ACA responsibilities, and avoid penalties with comprehensive ACA tools and reports.

    5. Eliminate Duplication of Effort with Time-Saving Integrations:

    PayPLUS understands the importance of eliminating duplication of effort. We will seamlessly integrate with your accounting system and simplify the reconciliation process. Regardless of whether you use QuickBooks Online or other accounting systems, payroll data can be automatically uploaded, saving you time and effort.

    6. Improve Employee Satisfaction with Self-Service Functionality:

    Enhance employee satisfaction by providing self-service functionality. With PayPLUS, employees can conveniently access their data online, reducing the need for constant requests to the payroll and HR departments. The Employee Portal empowers employees to manage their pay information, view and update personal details, and access W-2 information.

    Let us handle your payroll so you can focus on what you do best – growing your business. +1 (866) 210-0903.

     

  • 10 Essential Employee Benefits to Elevate Workforce

    10 Essential Employee Benefits to Elevate Workforce

    10 Essential Employee Benefits to Elevate Workforce

    Employee benefits are pivotal in attracting and retaining top talent, enhancing job satisfaction, and contributing to overall company success. That said, it is essential to understand the significance of offering a comprehensive employee benefits package. In today’s PayPLUS blog, we’ll delve into the world of employee benefits and how they can work to your advantage.

    1. Health Insurance:
    One of the most sought-after benefits for employees is health insurance. Providing a robust health insurance plan not only promotes the well-being of your workforce but also acts as a powerful recruitment and retention tool.

    2. Retirement Plans:
    Retirement plans, such as 401(k) or pension programs, can help your employees secure their financial future.

    3. Paid Time Off:
    A generous paid time off (PTO) policy is essential for maintaining a healthy work-life balance. It gives employees the flexibility they need to rest, recharge, and spend time with their loved ones.

    4. Flexible Spending Accounts (FSAs):
    FSAs allow employees to set aside pre-tax dollars for medical expenses, childcare, or even commuting costs. This provides a financial advantage and can reduce taxable income.

    5. Dental and Vision Insurance:
    In addition to health insurance, dental and vision coverage is highly valued by employees. These benefits contribute to overall health and well-being.

    6. Life and Disability Insurance:
    Providing life and disability insurance offers peace of mind to employees and their families. It ensures financial security in times of need.

    7. Employee Assistance Programs (EAPs):
    EAPs offer counseling services, legal advice, and support for personal issues, which can be invaluable for employees facing challenges in their personal lives.

    8. Education Assistance:
    Many employees value opportunities for continuous learning and development. Offering education assistance or tuition reimbursement can contribute to professional growth and loyalty.

    9. Wellness Programs:
    Wellness programs can include gym memberships, fitness classes, or mental health resources.

    10. Recognition and Rewards:
    Recognition programs, including bonuses and performance incentives, motivate employees to excel and feel appreciated for their hard work.

    We acknowledge the complexity of overseeing a full-fledged employee benefits program, particularly when it involves educating, disseminating information, and, most crucially, managing the benefits process.

    At PayPLUS, we’ve assisted businesses in simplifying their HR operations by empowering their employees to independently access, oversee, and input their HR information through our advanced, all-inclusive HR platform. We’ve eliminated the hassle of dealing with paperwork.

    Contact us today for a complimentary demonstration: +1 (866) 210-0903 to discover more.

  • Payroll Basics: A 7-Step Comprehensive Guide for Any Size Businesses

    Payroll Basics: A 7-Step Comprehensive Guide for Any Size Businesses

    Payroll Basics: A 7-Step Comprehensive Guide for Any Size Businesses

     

    Managing payroll can be a daunting task for all business owners. With various regulations to comply with, tracking and processing payroll, and meeting deadlines to stay on schedule, it’s no wonder payroll management can sometimes feel overwhelming. In today’s PayPLUS blog, we delve into the fundamentals of payroll management to assist business owners in maintaining their businesses’ success and staying on the right track.

    1. Classification of Employees:

    Properly classify full-time, part-time, and contract workers, considering tax and benefit implications.

    1. Wage Calculations:

    Accurately calculate wages, including overtime, bonuses, and deductions. Adhere to federal and state minimum wage laws.

    1. Withholding Taxes:

    Learn about payroll tax withholdings (e.g., federal income tax, Social Security, and Medicare) and ensure accurate deductions.

    1. Compliance with Labor Laws:

    Staying compliant with labor laws is essential. Familiarize yourself with the Fair Labor Standards Act (FLSA) for minimum wage, overtime, and child labor regulations to avoid penalties.

    1. Record Keeping:

    Maintain organized records of all payroll transactions, including employee earnings, tax withholdings, and payment dates for audits and reporting.

    1. Payroll Software:

    Use PayPLUS’ payroll software to automate calculation, tax withholdings, and generate pay stubs for efficiency and accuracy.

    1. Reporting and Filing:

    Understand your responsibilities for filing payroll tax reports and paying government agencies. Missing deadlines or submitting incorrect information can lead to fines and penalties.

    At PayPLUS, we assist over 500 health home care agencies and businesses in streamlining payroll management. If you need expert assistance with payroll management, HR compliance, or related matters, our team is here to help guide you. Contact us for a free demo: +1 (866) 210-0903