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Year-end Overview OSPS 2009 Year-end Mini-conference. Presented by: Katherine Bremser Date: October 19, 2009. Year-end Process. Closeout current benefit and tax year Prepare for new benefit and tax year. Goals for Year-end. Ensure that the employee receives: Correct pay and benefits

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year end overview osps 2009 year end mini conference

Year-end OverviewOSPS 2009 Year-end Mini-conference

Presented by: Katherine Bremser

Date: October 19, 2009

year end process
Year-end Process
  • Closeout current benefit and tax year
  • Prepare for new benefit and tax year
goals for year end
Goals for Year-end
  • Ensure that the employee receives:
    • Correct pay and benefits
    • Correct W-2
  • Ensure that OSPS
    • Reports and pays the correct amount to vendors and taxing / assessing entities
  • Ensure that the state
    • Has few corrected W-2’s
several processes
Several Processes
  • 2009 Charitable Fund Drive
  • 2010 PEBB Open Enrollment
  • 2010 Governor’s Food Drive
  • 2009 Taxes
charitable fund drive
Charitable Fund Drive
  • Before 10/26/09, OSPS will outdate 2008 on-going deductions, effective 11/30/09
    • E460-04-01 List of In/outdated Deductions
  • Set-up OSPA for 2009 fund drive
    • Outdate all codes but Q5NN
    • On 11/17/09 load file for new deductions, effective 12/31/09
pebb open enrollment
PEBB Open Enrollment
  • Outdates for 2009:
    • 10/01/09
      • Dependent certification
      • Domestic Partners as Tax Dependents
    • 12/31/09
      • All medical plans
      • FSA’s
      • Employee changes
    • 01/01/10
      • Optional life age band changes
  • 11/14/09 – OE file to OSPA
dp s as tax dependents
DP’s as Tax Dependents
  • PDB deleted Domestic Partner Certification for Dependent Tax Status prior to open enrollment
  • Employee must give P/R a new certificate for 2010
    • Enter in PDB
    • PDB will interface alpha plan code
  • PDB requestable report for IRS dependents
dp not tax dependent
DP Not Tax Dependent
  • Prior to 10/26/09, OSPS will outdate the DPT/DPN entries on the P050
    • E820-1 Gross Pay Adjustments Outdated
    • E820-2 Gross Pay Adjustments Beginning after Outdate
    • E820-3 Duplicate Gross Pay Adjustments
  • PDB requestable report for DP’s and children with imputed value
2010 governor s food drive
2010 Governor’s Food Drive
  • Before 1/23/10, OSPS will outdate on-going 2009 Food Drive deductions effective 2/28/10
    • E560-04-01 List of In/Outdated Deductions report
taxes
Taxes
  • W-2’s for employees who received pay in 2009
  • 1099-MISC for beneficiaries of deceased employees
timing for tax years
Timing for Tax Years
  • The employee’s taxable income includes anything received by December 31, 2009 (constructive receipt)
  • November paid December 1 = last regular payroll run for 2009
  • Use P010 FINAL CHECK dates to put payments made in December in 2009 tax year
timing for tax years1
Timing for Tax Years
  • 2009 Income includes
    • Final pay and leave pay-offs for employees separating on or before 12/31/09
    • Overpayments not repaid by 12/31/09
    • Fringe benefits received during the year
    • December paychecks cashed prior to 1/1/10
general deadlines
General Deadlines
  • 12/9/09, November Run 2:
    • Last date for months prior to November to:
      • Set P010 dates
      • Set correctives
      • Request check reversals
    • Last date to make 2009 cash payments to employees without setting P010 final check dates
general deadlines cont d
General Deadlines Cont’d
  • 12/31/09, last date for 2009 to:
    • Pay-off leave balances for employees who separated in 2009
    • Accept repayments for 2009 overpayments
    • Request manual checks for employees with net pay positive adjustments
    • ACH stops and reversals to process normally
general deadlines cont d1
General Deadlines Cont’d
  • 01/11/10, December run 2, last date for 2009 to:
    • Request check reversals or cancellations
    • Enter non-cash expense reimbursements or fringe benefits
    • Correct negative YTD amounts
general deadlines cont d2
General Deadlines Cont’d
  • 01/11/10 Cont’d – Last date to:
    • Request P060 adjustments for separated employees with net pay positive adjustments
    • Record 2009 return of overpayment
    • Correct payments from the B850-01 Nov or Dec Pay Reported in Two Tax Years
december separations
December Separations
  • If paid by December 31, put in 2009 tax year with P010 Check Dates
  • Watch for maximum amounts:
    • Social security - $106,800
    • OSGP - $16,500
    • FSA’s - $5,000
    • SVNN - $5,000 per primary owner
  • Between 12/28 and 12/31/09 can reverse check or ACH and reissue
separations before december
Separations Before December
  • Adjust / pay-off any remaining leave balances by 12/31/09
    • E492 Terminated Employees Having Leave Balances
  • Adjust / pay-off net pay positives
    • E357-030 Separated Employees with Net Pay Positive Adj
transfers
Transfers
  • Do not set P010 dates for December transfers
w 2 s
W-2’s
  • Will use address from the PPDB
    • Remind employees to update HR records
  • Produced by 1/21/10
    • E381-20-2 W-2 Distribution List
    • If transfer does not receive W-2, check with other agency
  • Distributed by 1/31/10
w 2 s cont d
W-2’s Cont’d
  • If XREF68N Employees with Negative Amounts Listed has YTD negative, employee will not receive W-2
deceased employees
Deceased Employees
  • 11/23/09 ANNLDEC Deceased Employees – Agency Summary Report
    • Make sure all 2009 deceased employees are on the report
    • Make sure there are no employees who should not be on the report
  • IRS Form W-9 for estate and/or beneficiaries due by 1/4/10
1099 misc
1099-MISC
  • 01/31/10 = deadline to distribute 1099-MISC to payees of deceased employees’ final wages
  • 1099-MISC if:
    • Payee receives ≥$600.00
    • Domestic partner insurance and
      • ≥ 80 paid regular hours in final month
      • DPT ≥$600.00
    • Back-up withholding (28%) for any payee, regardless of amount
ssn ein verification
SSN / EIN Verification
  • When we file the 1099-MISC report, SSA compares SSN or EIN reported to the name in their file
  • If they do not match, they return the form to us
    • $50.00 penalty to specific agency for each one that does not match
    • Payee cannot get back-up withholding refunded without a match
foreign nationals
Foreign Nationals
  • 01/04/10 = deadline for submitting:
    • OSPS Form 99.01
    • IRS Form 8233 or W-9 if exempt from withholding
  • Non-resident aliens have different withholding requirements
  • The 99.01 will help ensure correct withholding and happy employees
forms for new tax year
Forms for New Tax Year
  • New W-5 due by 1/4/10
  • New W-4 for tax exemption due 2/15/10
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