Q3 2024 Quarter End Payroll Deadlines_ Third Party Sick Pay, Tax IDs and Tax Variances

OVERVIEW

It's important to have these Payroll Deadlines in mind as you close out your company's books for Q3 2024.

TARGETED DEADLINES

Final Payroll Corrections

  • The cut-off is 4:00 p.m. ET on October 1, 2024 - Fees may apply if you are responsible for the change. Any Q3 2024 adjustments driven by you after this date will require an amendment and applicable fees will apply. Refer to Payroll Corrections for instructions.

Third-Party Sick Pay

  • Third-Party Sick payments should be processed before your last standard payroll of the year whenever possible. Any third-party statements received for 2024 can be added to any quarter. Requests to be included with Q3 2024 should be submitted by October 1, 2024, to ensure Third-Party Sick payments are included on your employee's W-2. Any requests received after October 1, 2024 information about the deadlines for processing and adjustments.

Third-Party Administrator Access​​​​​ for Tax Jurisdictions

Account Maintenance Disclaimer: If we do not receive Third Party Administrator (TPA) access by Tuesday, October 1, 2024, any penalties and interest associated with paper filings and late payments will be your responsibility.

Tip:

Colorado SUI, Massachusetts SUI, Minnesota SUI, New Mexico SUI, Pennsylvania SIT, SUI & Philadelphia, Puerto Rico SIT/SUI specifically require TPA to file tax returns. Refer to the State Tax Guides section of our Namely Toolkit: Tax Services for more information.

Missing Tax IDs

If the tax EIN is not received or there are uncollected funds from “applied for” status by Tuesday, October 1, 2024, any penalties and interest incurred for late filings or payments will be your responsibility. Submit a case in the Help Community using the following Taxonomy Payroll>Tax Services>Applied for Recollection to electronically file an "Applied For" status with a new EIN. Refer to Non-Collection of Taxes with IDs in "Applied for" Status & Tax Validation for information about the penalties for missing Tax IDs and uncollected funds for taxes left in "Applied For" statuses.

 

Note: Namely cannot make payroll tax deposits or file payroll tax returns without the federal, state, and local agency-assigned account numbers, payment numbers, and/or agency authorizations as directed per the individual state jurisdiction. If Namely is not promptly provided the necessary information, Namely will not be responsible for penalties and interest due to late payments and filings.

 

Variance Collection and Company Tax Packages

Back Filing Request for Prior Quarters

  • Please note that to ensure timely filing of Q3 2024 tax returns, all prior quarter back-filing requests will be placed on Quarter End Hold status in ClientSpace beginning September 25, 2024. 

  • Back filing requests will resume on November 6th, 2024 after all current quarter (Q3 2024) filings are processed in the order they were received.

 

DISCLAIMER: If Namely is provided information from a specific Tax Agency regarding an invalid account status for any of the tax codes within your tax profile, Namely will be changing the tax ID/status to "Applied For" until you're able to resolve the tax account status issue. In addition, any previously collected liability that is unable to be filed to the agency will be refunded if the agency can not accept the funds with an inactive status. This process is being put into place to ensure you know there are outstanding issues with your company's tax account(s), as well as to ensure Namely doesn't collect tax liability that we cannot remit due to the tax account status issue. You will receive a separate communication after filing is complete for any tax jurisdictions that we could not file on your behalf.

 

 

 

 

 

 

 

 

 

Internal Notes

Q2 2024 Targeted Deadlines

All Client RTS (Reconciliation Tax Summary)

  • This file contains quarterly and annual (if applicable) client data and summarizes the PTS (Payroll Tax Summary) files.

  • The final Q2 2024 All Client RTS file will be generated and imported into MasterTax on Monday, April 1st, 2024. Any corrections made after 4 pm EST on Monday, April 1st, 2024 will require a new RTS file. A task is required to be submitted to the Quality Tax Team for RTS file regeneration.

    Tip:

    The Generate Selected button will be used for all clients.

Q2 2024 Payroll Corrections

  • The last payroll corrections for Q2 2024 will be accepted until April 1st, 2024 at 4:00 PM ET.

    • Corrections submitted after the cut-off date and time may result in fees depending on who is responsible for the change.

    • Any client-driven adjustments to Q2 2024 data after the cut-off time will require an amendment. Applicable fees will be applied.

  • Payroll Ops:

    • Corrections must be completed by the end of the day on April 1st, 2024.

  • Client Ops:

    • Corrections must be completed by the end of the day on April 1st, 2024.

    • Create a task in Salesforce and assign it to the Quality Tax Team. Include an indication that a new RTS file is required.

      Tip:

      Tasks must be created in Salesforce. Cases will not be reviewed.

Third-Party Sick Pay

  • Client Ops:

  • Create a task in Salesforce and assign it to Quality Tax Team. Include an indication that a new RTS file is required.

 

Tip:

Tasks must be created in Salesforce. Cases will not be reviewed.

Amendment Pause Period

  • All amendments will be paused from the end of the day on Monday, April 1st, 2024 to Monday, April 29th, 2024.

Back Filing Request for Prior Quarters

  • Please note that to ensure timely filing of Q2 2024 tax returns, all prior quarter back-filing requests will be placed on Quarter End Hold status in Salesforce beginning March 27th, 2024.

  • Back filing requests will resume on May 7th, 2024 after all current quarter(Q2 2024) filings are processed in the order they were received.