JYR audits year-end data to identify reconciliation problems prior to
running your W-2's. When any of your employee records do not meet specific
legislated requirements, JYR will flag the problem so that these issues
can be corrected. Following is a sample of the problems our solution can
identify:
*
FICA tax not equal to
6.2% of FICA wages. If multiple FICA deductions under same EIN, JYR
combines them prior to verification. If multiple EIN'S are under a
common paymaster, they are combined prior to verification. If multiple
EIN'S are not under a common paymaster, they are calculated separately.
*
FICA wages do not exceed
(87,900 - effective 1/1/2004) or (90,000 - effective 1/1/2005) or (94,200 - effective 1/1/2006).
*
Company FICA tax and wages not equal
to employee tax and wages.
*
Medicare tax not equal
to 1.45% of Medicare wages. The EIN/common paymaster rules described
above apply here as well.
*
Company Medicare tax and/or
wages not equal to employee tax and/or wages.
*
Federal wages not equal
to total wages less non-taxable deductions (Sec 125, Sec 129, 401(k),
403(b), 457, etc.).
*
State wages not equal
to total wages less state-specific non-taxable deductions.
*
FUTA tax not equal to
the company's appropriate exposure rate.
*
FUTA wages not capped
at 7,000 of the federal tax wage base.
*
For states with employee
paid unemployment tax, SUI tax and wages not equal to company paid
tax and wages.
JYR can be implemented with just a few days of consulting
assistance. If you would like more information on how JAT can help you
reconcile year-end, please click here
or call 800-772-3591 ext. 112.
Click here
for a complete list of HR/Payroll Year-end tasks.
