Now that 2021 is over, there are a few important tasks for you to take care of to start the year off on the right foot:
- Encourage your workers to access their Forms 1099 and W-2 electronically. Forms will be provided to your employees and contractors electronically via Homebase. We will also mail forms to anyone who hasn’t opted into electronic delivery of forms. Forms will be distributed by January 31st, 2022.
- If desired, you can print out these forms yourself.
- Tell us about any state unemployment insurance rate updates. State UI rate changes commonly come out between November and March. If your business experiences a rate change, you must inform us before we file your Q1 taxes in April.
If you haven't done so already, be sure to check your 2021 payrolls for accuracy. Some common things to check are:
- Be sure that all of your employee and contractor information is up to date. Check on every person's legal name, home address, work address, and Social Security number.
- Each person’s legal name must match what is printed on their Social Security card.
- If your employees/contractors worked from home, their home and work address will be the same.
- If your employees/contractors worked from home or another remote location for part of the year, it’s important that you let us know by December 31st so we can make sure taxes are calculated and paid correctly.
- Check that all payrolls and contractor payments have been entered into Homebase. If you made any payments outside of Homebase with a pay date in 2021, you must let us know about them before the end of the year.
- Make sure that all benefits have been entered into Homebase. This includes employee deductions and employer contributions for all benefits. Some examples of benefits you may have: health insurance, group term life insurance, and third party sick pay.
- If you are paying out bonuses or maxing out retirement plan contributions, make sure they are paid out in a payroll with a pay date in 2021.
Have questions about any of these? Please reach out to our support team at email@example.com.