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Feature Article - W2 Updates
Feature Article - 1099 Updates
1099 NEC
Self Report 1099s
Useful links:
FCCRA Adjustments...
Listed below are some important facts pertaining to processing a final payment for a deceased employee:
Important Fact-
- Wages that were constructively received by the employee while he or she was alive are reported on Form W-2 as any other regular wage payment, even if you may have to reissue the payment in the name of the estate or beneficiary.
Processing Facts-
- If the payment was processed in the same calendar year the employee died, you must withhold social security and Medicare taxes on the payment and report the payment on the employee’s Form W-2 only as social security and Medicare wages to ensure proper social security and Medicare credit is received.
- If the payment was made after the year of death, (i.e. employee died in 12/2019 and payment to estate is being processed in 1/2020), do not report it on Form W-2, and do not withhold social security and Medicare taxes.
Reporting of the payment-
- Whether the payment is made in the year of death or after the year of death, you also must report it in Box 3 of Form 1099-MISC, Miscellaneous Income, for the payment to the estate or beneficiary. Use the name and taxpayer identification number (TIN) of the payment recipient on Form 1099-MISC.
Please refer to the USPS-R Deceased Employee Final Payment documentation for further details.
REDESIGN STATUS | |
|---|---|
223 Sites Live on Redesign | 144 Total Wave 6 Sites |
17 Participating ITCs | 366 Total Districts Participating |
Please view the Current List of Districts & Status to see a comprehensive list of school districts along with their ITC, implementation status and the wave they are scheduled to migrate from Classic to Redesign.
The following terminology is used to determine where in the implementation process the entity is currently at:
Implementing: The ITC is running test imports and balancing reports on the entity. The district and ITC are working to schedule dates to begin dual processing and go live.
Paralleling: The entity is inputting all production transactions into both Classic and Redesign.
Live: The entity is using Redesign for production processing; no parallel processing is being performed; Classic is available in 'read-only' mode.
Vendor YTD Taxable figures vs non taxable amounts
