As you make your final payroll arrangements for 2022, we’re sharing several useful year-end reminders and important dates to help you stay organized.
Final 2022 Payroll Dates
The latest date payroll can be processed for 2022 is Tuesday, December 27, for a pay date of Friday, December 30. Please note: the payroll check date determines the tax year in which the payroll posts, not the pay period start and end dates. Find holiday closures here.
W-2 Information: Employers
Please provide Nextep with information regarding any third-party sick pay, personal use of company car, and S-Corporation owners of 2% or more of the company no later than December 30, 2021, as this information may affect your company’s tax return.
Late notifications to Nextep may result in charges for filing amended returns.
W-2 Information: Employees
Employees should check their name, address, and social security number on their check stubs. Nextep’s clients can do this by logging into their accounts. Changes made after January 7, 2023, may result in delayed W-2 delivery, a W-2C (change) at a rate of $50 per W-2C, plus additional charges to the employer for filing amended returns.
For more details related to Nextep’s W-2 process, visit our W-2 FAQs page.
W-2 Information: Healthcare Costs
Healthcare regulations require Nextep to show the value of the employee’s healthcare coverage in Box 12DD of the W-2.
Box 12DD of each employee’s W-2 will show both the portion paid by the employer and the portion paid by the employee toward the health plan reported to and administered through Nextep during 2022. For those not enrolled in a Nextep-administered plan, Box 12DD will remain blank.
This information on the W-2 does not change the employee’s tax filing status, procedure, or return in any way.
Holiday Savings Account
Employees may enroll in a holiday savings account at any time. Unless we are instructed otherwise, your existing enrollments and deductions will automatically renew and continue uninterrupted for your convenience.
Log into your Nextep account and look for Holiday Savings for more info.