W-2 Forms

The Payroll System provides for mandatory tax reporting to federal, state and local agencies and prints W-2s for employees to file their own tax returns.

At the end of the year, Hi-Tech Software Solutions provides instructions to assist you in preparing your employees' W-2 forms.

• Establish each employee’s local, state and federal tax statuses for calculating tax payments and wages to be printed on W-2.
• Create files of employee tax information from the prior year, which you can edit without affecting the new year.
• Print Alert lists, YTD Registers and Deduction Lists that help you reconcile tax information before printing the W-2 forms.
• Use the Hi-Tech W-2 print program designed to print on W-2 forms obtained through Hi-Tech.
• Create the electronic files that you must submit to SSA, federal, state and local agencies.

In addition to the standard tax statuses, the Payroll System handles the following for W-2 reporting:

• Taxable status of flex and third-party pay
• Statutory employees
• Participation in pension plan and 401k
• Employer-paid insurance premiums, company vehicle use, tuition reimbursement
• Section 125 (Cafeteria Plan)
• Child care deductions