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| 2010 Year End Client Compliance,
Reply Form and Information Packet. |
KEYSTONE PAYROLL
YEAR END 2010 COMPLIANCE, REPLY FORM AND INFORMATION
PACKET
The 2010 Year End Packets were mailed on November 8, 2010 and should be arriving shortly. If you
have not received your packet by November 15th please contact Keystone Payroll immediately.
The 2010 Year End Packet consists of the following:
Please review, update and return Year End Reply Form EVEN IF THERE ARE NO CHANGES as soon as possible to facilitate year end reporting and a smooth
transistion to the new year.
The
Year End Reply Form and all changes must be returned NO LATER THAN DECEMBER 1,
2010 or additional processing and/or reprocessing charges may apply.
| Keystone Payroll will be closed: | | UPS will not have delivery service: |
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- Thursday, November 25th
- Friday, November 26th
- Friday, December 24th
- Friday, December 31st
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- Thursday, November 25th
- Friday, November 26th
- Friday, December 24th
- Friday, December 31st
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Review your schedule to see how these closures affect your payroll. Be sure to allow yourself enough time to have your payroll processed and delivered. If you need your payroll for the Friday after:
- Thanksgiving – the payroll will need to be submitted by Tuesday by 3:00 pm for UPS pickup to ensure a Wednesday delivery.
- Christmas – the payroll will need to be submitted by Wednesday 12/22 by 3:00 pm for UPS pickup to ensure a Thursday 12/23 delivery.
- New Years – the payroll will need to be submitted by Wednesday 12/29 by 3:00 pm for UPS pickup to ensure a
Thursday 12/30 delivery.
The Year End Reply Form must be returned to Keystone Payroll by December 1, 2010 or information provided in the packet will be considered correct. PLEASE RETURN THE FORM EVEN
IF THERE ARE NO CHANGES SO THAT WE CAN CONFIRM THAT YOU HAVE RECEIVED THE PACKET and ensure a smooth completion of 2010 and transistion into 2011.
| End of the Year Items include: |
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- Verification of W-2 information.
- Outstanding Manual Checks or Voided Checks.
- Third Party Sick Pay.
- Fringe Benefits.
- Bonus Checks and Payrolls.
- Carry over of employee vacation and sick time.
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Please update all contact
information for our CRM system. This information includes primary and
secondary payroll contacts and any access restrictions. Also, if you use a
CPA or accounting firm and if you want them to have direct access to your
records via ViewChoice Reports.
Please verify legal name, address and all tax account numbers
and local taxing jurisdictions.
A prelist of your 2010 W-2's is included. This prelist shows the current names, address and social security numbers of all your 2010 employees
(mandatory).
Additionally, optional data of birth and termination dates, gender and employee
status may also be updated. Please verify this information
so that W2's are prepared correctly and to eliminate the need for W2-C's and reprocessing fees.
update optional information. Make corrections on the supplied report and return to Keystone Payroll
by fax, email (scanned pdf), mail or drop them off at our office.
A copy of your pay schedule for 2011 is provided for your review based on your current or requested pay schedule. Please review the dates, especially around banking/national holidays, to ensure your
payroll arrives when you want it to.
General Information for 2011 as of November 12, 2011
The following information is provided for reference. This information is subject to change, is
believed to be correct and time of release and is provided for informational purposes only.
- Social Security Earnings remains at $106,800.
- 401 K Limits- $16,500 with a $5,500 catch up for those aged 50 and older.
- SIMPLE Limits- $11,500 with a $2,500 catch up for those aged 50 and older.
- The IRS has decided to defer the requirements for employers to report the cost of Health Care
Coverage under an employer-sponsered group health plan until 2012 W-2. The new reporting requirement if is intended to be informational only; the amounts reportable are not taxable. For
additional information from the IRS web site click here.
- PA Unemployment Compensation employee contribution rate remains at 0.08%.
- PA State Income Tax remains at 3.07%.
- 2011 business mileage rate cents per mile- not yet announced.
Please forward to Keystone Payroll:
- Any notifications of Rate Change Letters for PA or any other state Unemployement rate as soon as recieved.
- Notifications of any changes to local tax rates such as LST.
- Notification of any changes to taxing authority or collection agency.
- Any other notifications you receive regarding chnages that may be unique to your company.
As always, if you should have any questions, please do not hesitate to contact us.
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Keystone Payroll, LLC · 355-C Colonnade Blvd · State College · PA · 16803 · 1-877-717-2272 |
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