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Shipping: Shipping companies become overwhelmed this time of year, and packages are oftentimes delayed, even when sent via Next Day Air, so please allow additional time for delivery. We cannot guarantee next day deliver this time of year, but you can monitor your delivery status if you are signed up for UPS shipping. For payrolls shipped via UPS, we will send you the tracking information for each payroll package. Please monitor the shipping status and notify your Payroll Specialist right away if there is an exception that will delay your delivery beyond pay day.
Bonuses: If you plan to pay additional bonuses this year, please give careful consideration as to when you request them to be processed. Many employers who give annual bonuses like to pass them out to employees during the week of Christmas. Since Christmas falls on a Wednesday this year, Payco will be closed early on Tuesday and all of Wednesday, which are generally our heaviest processing days. Therefore, our team will be tasked with handling most of their normal workweek within a day and a half, which would not leave any time to produce additional bonus checks during that week. We kindly request that all bonus payments be discussed with your Payroll Specialist and scheduled ahead of time.
Yearend Reply Form: If you have not done so already, please be sure to submit the yearend reply form that was sent via email around November 15th. Our Yearend Reply Form simply lets us know if you intend to have any other adjustments to your payroll before we process your W2s. If you have not submitted your yearend reply form or cannot locate it, please contact your Payroll Specialist as soon as possible.
Wednesday Check Dates: If your check date normally falls on a Wednesday, you will need to alter your pay day to Tuesday or Thursday during Christmas and/or New Year's Day. Moving a January 1 check date to Tuesday, December 31 will result in the wages being reported on the employee's 2024 W2, which means they may have one additional payroll reported in 2024 and one fewer in 2025. This could have an impact on employees' tax returns for 2024 and/or 2025. Therefore, moving the pay day to Thursday, January 2 may be the most common outcome, but you must ensure that is within the confines of state and federal labor laws. For example, in many states you must pay employees within 7 days from the end of your pay period. As you consider what is best for your company and employees, please consider the above points and consult with your CPA if you need further advice on what day to make your pay day.
Ensuring employees are paid accurately is our number one objective, and with a little advanced planning of bonus payments will go a long way in meeting that goal.
Thank you very much for your cooperation and we wish you, your family, and employees have a safe and wonderful holiday season!
Best Regards,
Tom Bosman
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