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Don’t Fear! Tips to Survive Year-End Reporting

For many employers, the last three months of the calendar year can be quite overwhelming as you prepare for routine year-end workforce activities such as distributing Forms W-2, potential changes in employer taxes, and the ongoing effects of legislative and regulatory changes.

Keeping pace with all of these tasks — while remaining compliant — can be daunting. To help with these efforts, ADP® conducted an hour-long webcast that offered insights on the latest changes and trends pertaining to year-end reporting, including aspects of the Affordable Care Act (ACA), unemployment insurance tax, Forms W-2 reporting and payroll.

Topics of discussion include:

Affordable Care Act (ACA)

o New IRS® ACA E-File Systems and Error Notices

o IRS ACA Penalty Assessments

Unemployment Insurance (UI) Tax

o Federal Unemployment Tax (FUTA) Changes

– Possible FUTA credit reduction and Benefit Cost Rate Assessment

– Affected states and potential outcomes

o State Unemployment Tax Changes

– Proposed expansions to quarterly wage reporting

o Update on the projected solvency of state UI trust funds

Changes to Year-End Reporting

o Federal

– New IRS fraud detection initiatives affecting employers

– IRS Form W-2 verification code initiative

– Return Integrity and Compliance Services (RICS) – IRS Early Filing Program

– Electronic Federal Tax Payment System® (EFTPS) inquiry PINS

o State

– Accelerated W-2 due dates

– Electronic filing trends

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