Greetings!
With the conclusion of 2022 ahead of us, we wanted to send out a few reminders to help end the year smoothly. Please review these important reminders and as always, contact us with any follow-up enquiries.
W2 Updates:
With the end of the year approaching quickly it is important to verify all your employees contact information to insure that they receive their W2's in a timely manner. The employees can either update this information themselves in the
employee portal or you can
email the updates to us.
Employees also have the option to access their W2's sooner through the
portal, rather than waiting for them to arrive in the mail.
For anyone not electing a paper copy, they will be stamped and mailed by January, 31st.
Bonus Requests
According to IRS guidelines, bonus payments are considered supplemental wages and will be taxed at the flat rate of 22% (or 37% if supplemental wages exceed 1 million) and not based on the employee’s form W4 elections.
Minimum Wage Increase effective 01/01/2023
Minimum wage for all hourly employees is $15.50 per hour
Minimum salary for all salary exempt employees is $64,480.00 per year
Voided 2022 Payroll Checks
Any 2022 payroll checks that may need to be voided will need to be reported to your payroll specialist prior to January 3rd, or an employee’s annual W2 may be inaccurate.
W2 Processing
We will mail all W-2’s, except for those choosing the Electronic W2, on or before January 31st, 2023, as required by law.
- All current and former employees will have access to their W2 through the Employee Portal versus waiting for the mail option.
- We suggest encouraging employees to sign up for the Electronic W2 option through the employee portal.
- If an employee would like a reprint of the certified W2 there will be a $25 fee. Accessing it through the portal is free.
Business Closures
Our offices will be closed in observance of the following holidays:
- Closing Early 12:00 noon December 23rd
- Closed December 26th
- Closed January 2nd
Your Payroll Specialist will contact you in advance to schedule payrolls around our holiday closures.
- All of us here at Pacific HR wish you happy holidays and if there is anything we can assist you with please reach out to us. We value your continued partnership.
