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  • Writer's pictureP. Seely

Bring 2023 Payroll to a Close!

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Millions of small business owners will be scrambling to get payroll forms completed and sent out by this year's deadline. Kick off the new year with confidence by completing the year-end payroll checklist if you have not already done so.

Important Federal and State Updates:

  • Learn about changes to the 1099-MISC form for 2023. Learn more

  • CA and NY are Federal Unemployment credit reduction states for 2023. Employers in these states will owe additional FUTA tax for 2023. Learn more

  • Alabama announced new overtime rules for hourly employees.  Learn how to set up and track in QuickBooks. Learn how

  • California announced new paid sick leave requirements effective January 1, 2024. Learn more

  • Illinois has a new voluntary paid leave plan called the Paid Leave for All Workers Act (PLAWA).  Learn more about this law and how to set up and track it in QuickBooks. Learn how

  • Minnesota announced new paid time off requirements effective January 1,  2024. Learn more

  • The Maine Community Support Service Fund (CSSF) rate has increased to .13% for 2024. QuickBooks will add this rate and correct the year-to-date 2024 tax calculation soon.

  • Effective January 1, 2024, the Rhode Island Temporary Disability Insurance (TDI) rate has increased from 1.1% to 1.2%. QuickBooks will be updating this tax and contacting our RI customers soon.

Actions to take:

  • Make sure to update your State Unemployment Insurance rate for 2024 if it has changed! Learn how

  • Make sure to update Federal and State tax deposit schedules for 2024 if they have changed! Learn how

  • Don’t want employees to receive an email when they receive a surprise bonus check? You can create a bonus-only check without your employee receiving an email. Read our article for steps on creating bonus-only checks without email notifications. Learn how

  • Review the Payroll Compliance Blog to stay current on new tax announcements and other critical payroll alerts. Check it out!

  • For additional year-end information, check out our year-end resources page. Check it out!

Dates to remember:

  • January 2024: Critical W2 dates vary depending on whether QuickBooks automatically files and pays your taxes or not.  For a detailed breakdown of W2 form availability, due dates, and more, visit the 2023 section of the year-end checklist. View checklist

  • January 28, 2024 (by 5 PM PT): E-file your 1099-NEC forms so they can be processed and postmarked to your contractors by January 31, 2023. Learn how

Looking for more help and support? Connect with me online to gain more insights and one-on-one support for your business!


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