Changes include earlier deadline for W-2, Copy A

This year-end, you have more to do and less time to do it in. As you review this checklist of key Payroll deadlines, take note of which ones are new and which ones will hit you earlier than ever before:

As of Dec. 1 2016, your company needs to pay exempt employees a salary of at least $913 per week to comply with the recently revamped Dept. of Labor overtime regs.

By Jan. 31, 2017, W-2s are due – not only to employees, but Copy A of the form is due to the SSA then as well. That’s the case whether you file on paper or electronically.

As for Forms 1095-C, they are due to employees when W-2s are. If you’re a paper filer, submit the forms to the IRS by Feb. 28, 2017. However, March 31, 2017, is the deadline for electronica filers. Before all these deadlines hit, here are some ways you can prepare.

‘Turn in your timesheets, please!’

Employees who will lose their exempt classification because they won’t reach the $913 salary threshold each week will need to start recording their hours worked.

ask for a decision on who will be considered nonexempt.

Then, establish the importance of Payroll’s deadlines from the get-go with newly nonexempt employees. At the same time, reinforce your deadlines with all nonexempt employees.

Screening for W-2 accuracy

Given the pressure to get W-2s ready faster, it’s more likely errors will try to creep in. So it’s good news that SSA will have its AccuWage software available earlier this year.

Plan to use AccuWage in October.

For the first time ever, you don’t have to download the software. If you prefer, you can upload your W-2s and the SSA will send you a reports about what you need to fix before you officially submit your files.

Clear up the codes for 1095-C

A draft version of Form 1095_c is out – and there are even more codes than last year. Consider getting a cheat sheet of codes started now.

Then, print a final list of the codes to have on hand when you’re completing the forms.