As we approach the end of the year, it is crucial we have updated information for your W2’s. Altitude Payroll providing a report to verify employee data before filing and printing. Beginning this week you will find an additional report in your payroll package or online under the Payroll Reports tab. This report is titled “W2 Employee Info  Verification—ACTION REQUIRED.” This report will have a listing of all employees with year to date data requiring a W2 or a 1099. Please review the information on this report to ensure there is a valid social security number and a valid address for each employee. Any updates or changes need to be submitted by December 15^th,  2019 for timely processing. Beginning Dec 15^th 2019 you can request a W2 preview be created and uploaded to your online portal to review prior to filing. If you are interested in this service please let your specialist know. If you require any further changes or additions, please submit them to your payroll specialist by 12/30/2019

 

You may update the employee information in one of four ways:

 

1. In your online portal, under the Employees tab, click on the employee needing updating. This information can be found on the first sub-tab of the employee’s profile.
2. Make a note on the report and fax the information to us at 866-409-5659.
   
3. ​Submit your employee updates securely using the yellow button labeled “Communications Portal” at www.altitudepayroll.com
   
4. Inform your payroll specialist of changes needed.

 

The importance of having correct information ensures your W2s are filed out correctly and timely. If any employee is missing a social security number or an address, the IRS will reject the W2 submission and will not allow us to file electronically on your behalf.

 

If additional wage or benefits information is required to be added to W2’s or 1099’s after December 30, 2019, an additional fee of $250 will be charged to re-open the quarter and year in order to process the adjustment and re-run all tax returns and W2’s. If you report taxable wage or benefit information after December 31st for 2019, and additional tax is due, and your deposit frequency may not allow for a timely payment. If an additional payment is due and we are unable to make the payment timely due to delayed reporting, Altitude Payroll will not be responsible for any penalties and interest as a result for the late payment.

 

Additional charges you can avoid!

 

• If a W2 correction is required as a result of incorrect or missing information, there will be a $25 per W2 re-issue charge.
• If your W2s electronic filing is rejected because of incorrect or missing information, there will be an additional $100 charge if we must file your W2s via paper submission.
• If your W2s are filed without the correct information, the IRS can impose a penalty of $50 per W2 that is filed incorrectly.