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for statements to be used in response to likely queries. Answers may need to change with updated guidance.
Revenue Service’s Tax Withholding Estimator includes guidance on how employees can figure in estimated overtime and tip amounts for this purpose. Develop a standard response to queries about changing withholding amounts that directs employees to these resources if they come to payroll for help—and nothing more. Work with HR, Finance, and even Public Relations to develop a set of answers to possible questions from both management and employees. Prepare, vet, and get approval
Seek and use, where appropriate, any third- party service provider
communication explaining how the law creates the need for change. This could be useful for helping management and employees understand what they are seeing on changed pay slips and Forms W-2. Communication regarding Trump Accounts should be generated by the benefits team and/or the employer’s plan administrator once a program is set up. For W-2 reporting, payroll operations should communicate with plan administrators to ensure proper accounting of contributions and accurate reporting, and how questions from employees should be handled. In addition to these suggestions, be sure to continue to communicate to management and employees about other changes this year-end, such as a new wage base for Social Security, and other numbers that are indexed for inflation.
Work with HR, Finance, and even Public Relations to develop a set of answers to possible questions from both management and employees. Prepare, vet, and get approval for statements to be used in response to likely queries.
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GLOBAL PAYROLL MAGAZINE ISSUE 28
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