November 02, 2020
The Payroll Factory Newsletter
November 2020 edition
Welcome to the November 2020 edition of The Payroll Factory Newsletter. Year end is rapidly approaching and for businesses and organizations this is a great month to utilize the W-2 verification form which their payroll processor should be providing them.
The verification of information on the form should include the following:
1. Making sure all addresses are correct for both active and terminated employees and in particular those who have their W-2 mailed to them who work in satellite offices or are working remotely.
2. Verifying all social security numbers of the employees active and terminated.
3. Any name changes that occurred during the calendar year.
4. Verifying the deductions that would show up on a W-2 such as 401K or pre-tax health insurance to name a few.
5. Verify spelling of employee name and address. Some individuals utilize a middle initial as part of their name which shows on their W-2 and tax return.
Lastly, have your clients look at their pay schedules as we head into year end. January 1st is on a Friday this year. Clients whether weekly or bi-weekly pay on a Friday. Will your client have a 27th or 53rd pay of the year on Thursday December 31st which could include bonus payments.
As always “whatever it takes,” I look forward to working with you, your associates and above all your clients. Thank you very much and have a great day.
Steve Sabel
Senior Account Relationship Manager
The Payroll Factory
18 East Lancaster Avenue
Malvern, Pennsylvania 19355
267-907-4179 cell
This press release was produced by the Lower Bucks County Chamber of Commerce. The views expressed are the author’s own.
