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academy:calendar:julystart_january
January
The following Business processes should be started or in progress:
❏ First Payroll of the Calendar Year Checklist
❏ Process W-2 Forms
❏ Process 1099 Forms
❏ Process 1095 Forms
❏ Budget Process
❏ Next Year Payroll Process
The following business tasks have been identified for the month of January. Use the checklist below to ensure that the tasks are addressed, if applicable.
| Application(s) | Task |
|---|---|
| Budget | ❏ Continue developing the budget calendar for the upcoming year. ❏ Continue preparing the Budget application for the new school year budget. |
| Finance |
❏ Begin working on 1099-NEC processes.
|
| Payroll | ❏ Complete the W-2 filing to the SSA. (Due by January 31st.) ❏ Begin processes for ACA 1095 reporting. ❏ Complete fourth quarter payroll reports for 941 and unemployment. ❏ Compare tax tables to IRS Circular E. After the last December payroll or prior to the first January payroll, upload the new tax tables. ❏ If under a taxable employer type, update the unemployment rates. If under a reimbursable employer type, it is not necessary to update the unemployment rates. ❏ Review the limits in payroll tax tables for Social Security and Medicare wages as published in the IRS Circular E. ❏ Remind employees to file a new W-4 to claim exemption from withholding. |
PEIMS Business Reminders:
❏ Complete the Mid-Year PEIMS Submission, which includes only Business records.
academy/calendar/julystart_january.txt · Last modified: 2023/10/05 16:16 by emoreno