Year end overview osps 2009 year end mini conference
This presentation is the property of its rightful owner.
Sponsored Links
1 / 27

Year-end Overview OSPS 2009 Year-end Mini-conference PowerPoint PPT Presentation


  • 94 Views
  • Uploaded on
  • Presentation posted in: General

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

Download Presentation

Year-end Overview OSPS 2009 Year-end Mini-conference

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


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    • E460-04-01 List of In/outdated Deductions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


What questions do you have

What Questions do you have?

A Happy New Year!


  • Login