Client New-year Guide
We have designed this New-Year Guide with you in mind, bringing together important information and dates to be aware of so we can kick-off the New Year with a bang!
We look forward to the new year and serving you!
The Premier Payroll Team
Your Action Items:
State Deposit Frequency & Unemployment Rate Notices
Keep an eye out for notices from tax agencies sent directly to you stating Deposit Frequency and Rate Changes for the upcoming year. State agencies do not send these notices directly to Premier Payroll; please forward any notices from tax agencies to us when received.
State/Local Minimum Wage Updates
Minimum wage changes are common at the beginning of the year. Please see the link below and review your employee pay rates to ensure your business is meeting legal requirements.
Online Client Access: for you and your employees
Our free service allows you and your employees access to Year-end reports, W-2s, and 1099s as soon as they're available. If you don't already have access, contact us today!
We provide a free service where your employees can access their pay stubs, W-2s and more 24/7.
Reach out to our payroll team to take advantage of this convenient, time-saving feature; all you need to do is provide employees' business or personal email addresses.
Once your employees' access has been setup, they can access their information on a desktop computer, mobile browser, or mobile app.
Need to Know:
Important Year-end Dates
1/13 - Year-end, W-2, and 1099 packages begin to be available online
1/13 - Last day to make 2022 changes to W-2s without a W-2c
1/27 - All W-2/1099 packages shipped by January 27th
1/31 - Deadline to postmark/distribute W-2s & 1099s for employees & independent contractors
2023 Retirement Account Contribution Limits
401(k), 403(b), and most 457 plan limits will be $22,500, and catch-up limit for employees over age 50 is $7,500.
IRA limit is $6,500, with a catch-up limit (over age 50) of $1,000.
2023 Health Savings Account (HSA) Plan Limits
The high-deductible limit for self-only coverage is $3,850, family limit is $7,750, and individuals over age 55 may contribute an additional $1,000.
2022 Payroll Data - Late Reporting
2022 Payroll data processed after 12/30/22 is subject to a $250 adjustment fee.
Resources & Links: