Payroll Taxes Made Easy
02/17/17 | 9:00AM | Posted by TEAM Software
Managing payrolls taxes can be tricky business — the time spent researching changes to local or state taxes alone can be so time consuming. TEAM understands this and has been working on upgrading how we handle the process within WinTeam — our core financial, operations and workforce management solution. An upgraded payroll tax engine will automatically update payroll taxes based on the employee or job address.
To help TEAM clients prepare, we hosted a free webinar explaining the payroll tax engine upgrade and its benefits, and we showcased the rollout timeline and what information TEAM clients need to know. Here are the highlights:
- The new tax engine will “go live” in fall 2017 (so no major process changes will occur until then).
- The first of four phases of the rollout is Address Validation.
- The addresses will be validated and normalized to USPS standards based on Melissa Data (an international address validation service).
- All TEAM clients will have access to the address validation tools after February 26, through the latest version of WinTeam.
- All employee and job addresses in WinTeam should be validated within 90 days.
- There are multiple ways to update the employee and job addresses: manually one-by-one through the individual records or automatically through the bulk update option.
- Once all the addresses are validated, the information can be kept up-to-date by enabling the bulk update option, which runs a nightly process to validate any new or changed addresses.
If you were unable to participate in the free webinar or just want to be in-the-know on payroll tax automation, check out the recorded version and review the webinar slide deck. You can also visit our online resource for additional information, including helpful videos, a project timeline and more.