Year End Checklist Payroll and Benefits
| Payroll Checklist | Notes | Completed |
| By Dec 1st remind all employees to file an amended W4 if their filing status has changed. | You can send this via electronic communication or hard copy memo – however, all employees must have access if sent electronically | |
| Review year end check dates – do you need to change them due to holidays or bank closings? | Check with your payroll provider and your bank | |
| Create/request a list of outstanding payroll checks for reconciliation and check the escheat laws for the states you operate in | Each state has separate escheat laws. You must send any abandoned checks (property) to the state | |
| W2s (employees) by Jan 31st | All employees must receive W2 regardless of amount of income | |
| W3s – (for employees –totals) | To SSA by Feb 28th | |
| 1099-Misc (independent contractors) by Jan 31st | 1099 Misc if over $600 in payments made | |
| 1096s (for independent contractors –totals) | 1096 to IRS by Feb 28th | |
| W4s | if employee is claiming exempt they must fill out new W4 no later than Feb 15th | |
| Fringe Benefit Taxation | ||
| Check new IRS Caps for retirement contributions | IRS limits each year | |
| Check IRS and Plan Caps for flexible spending accounts | Check YTD totals of participants and changes for next year | |
| Allocated Tips | Allocated tips need to be calculated for tax purposes | |
| Mileage paid at above federal limit – is taxable to employee | IRS sets mileage reimbursement amounts each year | |
| Personal Use of Company Vehicles | Personal use of company vehicles is taxable to employee | |
| Per Diem charges for Travel Expenses | Check Per Diem Chart on IRS website and your Company
Policy to determine if travel/meal expenses fall within Federal limits |