Social Security Verification Deadline is Dec. 1st, 1099 Reminders, Form W-4 Update
Social Security Numbers Verification Service
Deadline December 1, 2016
PayData’s SS# Verification Service is an easy and cost effective way to ensure that your employees’ names and social security numbers are accurate. Avoid costly reprocessing fees and reduce your year-end stress by ensuring that your W2s are printed correctly the first time.
If you would like to participate in this service please call Sherri Boissoneault in our Finance Department at ext. 123 or e-mail Finance@paydata.com on or before December 1st.
Please note: A $25.00 filing fee will be applied to your year-end invoice. If you have previously enrolled in PayData’s SSV service, we will continue to file on your behalf until you notify us to discontinue.
Reminder: Please notify your PayData CSR before December 6, 2016 if you want PayData to prepare your Form 1099s
PayData Processing 1099M & 1099R Forms
Form 1099M: PayData processes 1099M forms for reporting rent and non-employee compensation only. PayData’s default is to only print the Form 1099Ms which are over the federal limit of $600.00. If you wish all Form 1099Ms to print regardless of amount, you must notify your PayData Client Service Representative no later than Tuesday, December 6th.
Form 1099R: PayData processes 1099R forms for reporting pension payouts. (Please be specific as to the type of payout: rollover, death, early retirement, etc). If there is any federal withholding, a separate company must be set-up in our system, as the 1099R withholding taxes need to be reported on a 945 tax return.
All Form 1099 information must be posted in our system no later than January 6, 2017. PayData reserves the right to not process or prepare Form 1099 returns received after this date.
Please note: PayData does not provide envelopes for the 1099 forms.
PAYDATA TAX SERVICE CLIENTS:
PayData files the 1099 federal and state copies for you electronically. If you do not want PayData to file the returns, you must notify us prior to January 6, 2017.
PAYDATA NON-TAX SERVICE CLIENTS:
Depending on where your business is located, you will need to File 1099 Forms to either: IRS, Austin TX 73301 or IRS, Kansas City MO 64999 and to the appropriate state agency.
If you would like PayData to assume full responsibility for your payroll tax deposits and filings in 2017, please contact PayData’s Finance Department at extension X123 or by email at Finance@paydata.com to obtain the appropriate paperwork.
IRS Has Not Yet Released Form W4 for 2017
The IRS has not yet released the new version of Form W-4. We will update our website with the new form when it is released. Employees should Complete Form W-4 so that the employer can withhold the correct federal income tax from the employee. Consider asking your employees to complete a new Form W-4 each year and when their personal or financial situation changes. Click here for the 2016 Form W-4.
Did you know…PayData offers your employees an online Form W4 assistant to help determine W4 with-holdings? Click here for the link.