Year-End Tax Reports

Coastal HR Services

 

Year-End Tax Reports

As year-end tax reports roll around, your business may begin to feel busier than ever. But with the help of our software programs, we can figure out all of the annual information and details that the IRS requires. Our HR department is ready to help you!


File on time, every time with our payroll experts as you close out your year-end tax reports. Want to reap the benefits that Coastal Human Resources has to offer? Read below what businesses look for when printing W-2 and 1099 forms.


Saves Time

You can eliminate time spent setting up and printing every form, and instead find them all in one place.

  • View previous forms that are saved on the cloud.
  • Find compiled employee reports organized by quarter and fiscal year.
  • Payroll tax is automatically updated so fewer errors are made.
  • Download large files and print in as little as one click.

Verified Data

For legal compliance, all businesses must submit and verify employee year-end tax reports and get verified data on employee salaries based on your state. Also, be sure to keep the information up to date as employee marriage statuses, addresses or names may change.


Meet Department Deadlines

The IRS department has specific deadlines for business owners to make on year-end tax reports. Sending copies is required for both parties by the employer. By printing out and having them on hand, you can avoid unnecessary fees and penalties for such liabilities.


Look Into Annual Details On Reports

There are well over ten annual detailed payroll reports that employers and employees can look over once the company is ready to file. Be sure you go over your state’s checklist for an actual list of what is asked. These are a few you may want to look into:

  • Payroll Summary Details - payroll items are listed based on paychecks and have an overview of how values are calculated.
  • Employee State Taxes Details - employees can find their wages and any withholdings for state payroll taxes.
  • Payroll Liabilities Balances - payroll taxes from the employee’s company can be seen here.

Track and Report

Having trouble keeping track of changes made nearing payroll? We found a structure that will work for you and any legal concerns including a safe and secure software used by top registered businesses.

  • Employers and employees benefit from the visible outsourcing payroll with income, overtime, sick leave, vacation and even personal time off.
  • Reduced costs and less time for DIY payroll allows for less mistakes and avoiding any governmental penalties. 

Send and File

Before you can file, you must first send out tax forms to your corresponding employees so that they can individually file on their own. Once you have completed this step, you will need to file a W-2 and send a W-3 form to each employee. Other filing forms include contractor 1099s, 940s, 941s and 944 which will vary by quarter, minimum/maximum taxes for qualifying owners and for those who are health insured.


Begin your business year-end tax reports today and let us help you with human resource management. Coastal Human Resource Group, Inc. is a Human Resource Outsourcer (HRO). We serve as a full-service human resources department for small and medium-sized businesses throughout the Southeast which provides compliance screening as well as background checks. Visit www.Coastal-HR.com or call us toll-free at 1-888-757-7444. We’re here to help ensure that all your human resources needs are met.


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