Year end: Answers to common questions

Check direct deposit and payroll submission deadlines for details about the year-end payroll and direct deposit deadlines.

Check the direct deposit status. If we haven't started processing the direct deposit paychecks, you can give out handwritten checks along with printed pay stubs. If we have started processing the direct deposit paychecks, contact us.

By the check date. If hours are worked in 2016 and paid in 2016, the paychecks belong in the 2016 payroll. If the hours are in 2016, but paid in 2017, the paychecks belong in the 2017 payroll.

Check direct deposit and payroll submission deadlines to be sure that any direct deposit payments are applied in the correct year.

Run bonus checks or large payrolls early to allow time for a potential credit review.

Check direct deposit and payroll submission deadlines to be sure that any direct deposit payments are applied in the correct year.

Enter fringe benefits with a date of 12/31/16 to include them on 2016 forms. (For more information about benefits, scroll down to the Benefits section.)

When any single payroll (or a combination of payrolls within a 7-day period) has a federal tax liability amount that exceeds $100,000 (line 10 of Form 941 or line 9 of Form 944), you must make the tax payment by the end of the next banking day after the paycheck date, regardless of your current deposit schedule.

Don't worry, though, you can do the following to make the payment:

• Two or more days before the due date: You can still make the payment from your QuickBooks Online Payroll account.
• Less that two days before the due date: Make the payment directly on the IRS EFTPS (Electronic Federal Tax Payment System) website or from a financial institution that's authorized to make same-day, federal tax payments.

Click Contact us to see the QuickBooks Online Payroll support holiday hours.

We recommend that you always keep your employees' names, addresses, SSNs current, but you must make sure the information is complete and accurate before you prepare your employees' 2016 W-2s. If an employee record is missing an SSN, you won't be able to process W-2s for any of your employees.

Yes. Be sure to review and, if necessary, update any employee info you paid in 2016. This includes active, inactive, and terminated employees.

To ensure fringe benefits are reported accurately on year-end forms, be sure the pay type is included on the employee record and the amounts are recorded correctly. For more information, see Year end: Review wages and compensation.

To ensure these benefits and pay types are reported correctly on year-end forms like the employee W-2, contact us.

For information about third-party sick pay and allocated tips, see IRS Publication 15, Circular E: Employer's Tax Guide and Instructions for Form 8027: Employer's Annual Information Return of Tip Income and Allocated Tips.

When you prepare the employee's W-2 form, QuickBooks Online Payroll will prefill the local tax code field, so you don't need to look it up.

If an employee has had more than two local taxes withheld during the year, QuickBooks Online Payroll generates a second page of W-2 forms for the employee. The second page shows only the employee information, the employer information, and the local taxes (not the federal or state tax information).

Check Year end: Credit reduction states (FUTA rate) for information about credit reduction states.

When any single payroll (or a combination of payrolls within a 7-day period) has a federal tax liability amount that exceeds $100,000 (line 10 of Form 941 or line 9 of Form 944), you must make the tax payment by the end of the next banking day after the paycheck date, regardless of your current deposit schedule.

Don't worry, though, you can do the following to make the payment:

• Two or more days before the due date: You can still make the payment from your QuickBooks Online Payroll account.
• Less that two days before the due date: Make the payment directly on the IRS Electronic Federal Tax Payment System (EFTPS) website or from a financial institution that's authorized to make same-day, federal tax payments.

Many federal and state agencies have been working to incorporate late-breaking changes to their annual tax forms, so they may appear to be available later than usual.

Don't worry, though. We incorporate federal and state forms into your QuickBooks Online Payroll account as soon as the agencies make them available to us and, when they become due, we add the forms and filing dates to your To Do List.

Paychecks have associated tax and other liability calculations and payments that need to be taken into consideration. For example, if you record a paycheck that was issued in a prior quarter, you'll probably need to recalculate payroll taxes and re-file forms. If you need help recording paychecks, contact us.