Learn how you can wrap up this year’s payroll and prepare for the next with Intuit Online Payroll Full Service.
December and January are important months for every business. Whether it’s filing your taxes or sending out your employees’ W-2s, there are several things you need to get done.
Go over these important dates and tasks as you plan your year-end payroll work. And you can use the links to get steps or more info on anything you're wondering about.
December 29, 2020
Run final payroll for 2020
- Make sure employee wages and benefits are correct.
- If you use direct deposit, send off the year's final paychecks and pay employee bonuses by 5:00 PM PST.
- Report all employee paychecks, including handwritten, commission, termination, and bonus checks.
- Add the year's final fringe benefits to paychecks.
- Add any commissions your employees earned.
- Contribute to your employee’s retirement.
Order year-end supplies
- Subscribe to our labor law compliance posters. This way you know when the law changes.
Before the first payroll of 2021
Review and update employee and company information
- Ask employees to review and update W-4 and state withholding forms.
- Update employee information, such as employee SSNs, legal names, and addresses.
- Confirm your employees can import their W-2 directly into their TurboTax account
- Send us any tax notices you receive from your state or federal agencies.