- Start with your first, second and third quarter wage and tax totals. Are there out of balance conditions? Are there any states or localities where you have negative earnings or taxes? Review and fix this as soon as possible so it doesn’t become a year-end hangup.
Look at each jurisdiction, FEIN and company. Verify your internal totals against the quarterly reports filed by your provider. If you manage an in-house payroll, use your check-and-balance system to verify your year-to-date wage, pretax benefit, and tax totals.
Next tip coming soon….