Payroll Reminder

January 3, 2017


W2 and 1099-MISC Forms Filing Deadlines

For tax year 2016, there are new return filing requirements with respect to Forms W-2 and Form 1099-MISC when used to report non-employee compensation (Box 7).  Beginning in 2017, these form types must be filed with the IRS and Social Security (SSA) by January 31, 2017. This applies to BOTH paper and electronic submissions. In prior years, facilities had the opportunity to file forms until March 31st when filing electronically.


ACA Filing Deadlines

For tax year 2016, there are new filing requirements for Form 1095-C.  In 2017, Form 1095-C must be printed and distributed to employees by March 2, 2017. The electronic submission of Forms 1095-C and the transmittal summary Form 1094-C are due by March 31, 2017.


Make sure that all CHARTS Updates are Loaded

Make sure that you are up to date with all CHARTS releases.  That includes the recently released January '17 update (update # 103).


Remember that the Cost of Health Care must be included on the W2 forms.

Employers who filed 250 or more W-2 forms in the preceding year, are required to report to employees the total cost of their group health benefit plan coverage on their W-2 forms. This requirement went into effect in 2012 with the 2012 W-2 forms. Reportable costs include both employer and employee contributions for group health plan coverage. This requirement is informational only and any employer-provided coverage will not be subject to income tax. For information on how to load this data from an Excel file see Letters to Clients:  January 2, 2017, Preparing the data to be imported using EHEXCEL


Minimum Wage Increase Can Affect Minimum Garnishee Deduction

Many states increase the minimum wages at the start of the calendar year.  Any increase in your state’s minimum wage will affect the minimum disposable pay take home pay allowed prior to deducting any wage garnishees.