There’s a lot going on this time of year and one thing that is top of mind for us and for many employers throughout the US is ensuring employees’ Form W-2s and contractors’ Forms 1099-MISCs are filed correctly and on time. We are here to answer questions and make sure this time of year is as stress free as possible. If you are currently using Square Payroll, you should have recently received our year-end guide which we put together to provide you with a timeline, checklist and answers to frequently asked questions. We hope this helps guide you through all your year-end payroll related tax questions.
One question we hear a lot is if Square Payroll mails physical Form W-2 and/or Form 1099-MISC? And the answer is yes! 😀 All team members you paid this year should receive their tax forms in the mail by January 31, 2020.
Before we start filing your year end tax forms, we recommend taking these actions on your account as soon as possible (and before their respective deadlines):
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Action
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Deadline
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Update Unemployment Insurance (UI) tax rate
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Before first run of 2020
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Update benefits, sick and/or and paid time off
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Before first run of 2020
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Last day to run an off-cycle or contractor payment for 2019
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January 8, 2020
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Begin reviewing draft Form W-2s and/or Form 1099-MISCs
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January 9, 2020
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Review and update team member’s name, SSN, and address
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January 17, 2020
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Square Payroll completes 2019 and Q4 2019 tax filings
Note: Additional state filings for AR, IA, MN, NJ, and OH will be completed by the state deadline of February 28, 2020.
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January 31, 2020
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We wish you, your families, employees and contractors all a very happy holiday season! 🎁
We would love to hear how you prepare your business for the end of the year - share your comments below!
