Create custom pay statements for complex and compliance-driven scenarios
For a growing number of employers, relying on the standard pay statement from your payroll provider isn’t sufficient. Experian Employer Services helps payroll teams create multiple types of pay statements, without limitations, to meet all state and company requirements.
Go beyond the standard pay statement to include any necessary information for your specific employee groups or produce statements in multiple languages.
Employees can quickly view current or any past pay statements from our online portal either from a computer, tablet, or mobile device.
Eliminate the need to give your former employees access to your core HR systems by providing them access to their required pay information through our online portal.
Employees can be notified automatically when new pay statements are available.
Whether you’re a small business or a large organization, finding ways to increase efficiency and compliance is essential. One area you can improve is payroll processing with a pay statement service. But what is a pay statement service? Pay statement services refer to tools or software businesses use to manage payroll processing to produce employee pay statements. By automating the pay statement process, companies can have assistance calculating taxes, benefits and deductions to ensure accuracy and compliance with labor laws.
There are several key reasons why working with a pay statement service is essential, including:
Form W-2 is a document employers use to report the annual wages and the amount of taxes withheld from each employee for a tax year. Employers are required to provide employees with their W-2 forms to prepare their federal and state income tax returns. The IRS regularly updates this form to improve it. In this guide, we explore components of Form W-2, recent changes in 2023, the due date for 2023 and more.
IRS Form 945 is a federal tax form used to report non-payroll withheld taxes, such as gambling winnings, annuities, pensions, IRAs, and more. Employers who withheld nonpayroll taxes on pay statements must file Form 945 each year. In this guide, we explain who must file Form 945, recent updates, tips for addressing errors and more to ensure you properly file this form.
In this blog, we break down two recent updates to the tax landscape: e-filing and valuating digital assets. Electronically filing, or e-filing, makes it easy for businesses to take information from online wage statements and file their taxes, reducing paperwork and saving time and money. Effective in 2024, the IRS lowered the e-filing threshold from 250 to 10 returns. Regarding valuating digital assets like cryptocurrency, the IRS released a notice that provides guidance on valuating digital assets to ensure compliance with tax regulations. Learn more about these new updates here.
Collecting, reporting and remitting payroll taxes is a key requirement of businesses of any size. Failing to comply with payroll tax regulations can result in various penalties. In this blog, we explain your payroll tax obligations and provide an overview of common payroll tax penalties that can result from inaccuracies on payroll statements and how to prevent them from ensuring compliance.
Each year, new laws that impact compliance are put in place. In this review, we review some of the top compliance trends employers should be aware of to ensure they abide by the latest rules and regulations. Key takeaways include tips for managing unemployment costs with the modifications to tax rates, understanding the latest state revisions regarding remote work employer laws, tax consultancy updates and what employers can expect from the 2023-2024 Congress.
Employers must use IRS Form 941 to report income taxes, Social Security taxes and Medicare taxes they withheld from their employee’s paychecks, as employers are required to pay a portion of these taxes. However, if you’re an employer and noticed an error on a 941 Form you have submitted, you can use IRS Form 941-X to correct the mistake. Learn more about Form 941-X and how it can be used to correct issues found on previously filed forms.