Learn how you can wrap up this year’s payroll and prepare for the next with QuickBooks Online Payroll.
December and January are important months for every business. Whether it’s filing your taxes or sending out your employees’ W-2s, there are several things you need to get done.
Use this guide if you use one of the following payroll products:
- QuickBooks Online Payroll Core
- QuickBooks Online Payroll Premium
- QuickBooks Online Payroll Elite
Note: QuickBooks Online Payroll Core, Premium, or Elite will automatically generate and process your Employer and Employee W-2s only if you have opted in to have us file them for you. If you aren't sure, check your automatic tax payments and form filing status first.
If you are in need of 1099s for contractors, please select the Payroll menu, then Contractors and Prepare 1099s for the required steps.
Go over these important dates and tasks as you plan your year-end payroll work. And you can use the links to get steps or more info on anything you're wondering about.
December 30 & 31, 2021
Run final payroll for 2021
| QuickBooks Online Payroll Core | December 30th at 5:00 PM PT |
| QuickBooks Online Payroll Premium QuickBooks Online Payroll Elite | December 31th at 7:00 AM PT |
- Make sure employee wages and benefits are correct.
- If you use direct deposit, send off the year's final paychecks and pay employee bonuses before 5:00 PM PST.
- Report all employee paychecks, including handwritten, commission, termination, and bonus checks.
- Add the year's final fringe benefits to paychecks.
- Add any commissions your employees earned.
- Contribute to your employee’s retirement.
Order year-end supplies
- Subscribe to our labor law compliance posters. This way you know when the law changes.
Before the first payroll of 2022
Invite your employees to view their W-2s online
- Invite your employees to QuickBooks Workforce so they can see their pay stubs and W-2s online.
Review and update employee information
- Ask employees to review and update W-4 and state withholding forms.
- Update employee information, such as SSNs, legal names, and addresses.
- Confirm your employees can import their W-2 directly into their TurboTax account.
- Review and update any changes to your federal deposit and filing schedule.
- Review vacation hours, including used and unused time.
Review and update company information
- Run reports for year-end: employee details, payroll details, taxes, and wage summary.
- Send us any tax notices you may have received.
Keep an eye out for federal and state tax changes
- Review and update your state unemployment insurance rate for the new year.
- Review and update your tax deposit schedules.
January 13, 2022
- W-2 forms start to become available in your product.
Note: QuickBooks Online Payroll Core, Premium, or Elite will automatically generate and process your Employer and Employee W-2s only if you have opted in to have us file them for you. If you aren't sure, check your automatic tax payments and form filing status first. If you have opted out, your W-2 forms will be available for you to print and file January 1.
January 20, 2022
- W-2 forms are mailed to employees by USPS from January 20 through February
1.
Note: For QuickBooks Online Payroll Core, Premium, or Elite: will automatically send W-2s only if you have opted in to have us file them for you. If you aren't sure, check your automatic tax payments and form filing status first. If you have opted out, you must print and postmark your W-2 forms to your employees by January 31.
January 27, 2022
- E-file your 1099s forms on or before January 27, 2022 before 5:00 PM PT so they can be processed and postmarked to your contractors by January 31, 2022.
- QuickBooks Online Payroll Core, Premium, and Elite who have opted out of our automatic tax payment and form filing,
- And use our e-file service, you must E-file your W-2s before 5:00 PM PT so they can be processed by Janaury 31, 2022.
- Review and file federal forms and make tax payments, such as Forms 941/944 or 940.
- Review and file state forms and make tax payments (form names, due dates, and lead times vary by state).
January 31, 2022
- If you use our e-file service by January 27, 2022, the 1099 forms will be mailed to your contractors to the addresses indicated in the contractor's profile by January 31, 2022. If you don't use e-file, 1099s must be mailed by this date to contractors.
- If you haven't already filed, e-file your 1099-NEC forms before 5:00 PM PT for timely submission to the IRS.
- QuickBooks Online Payroll Core, Premium and Elite who have opted in to our
automatic tax payment and form filing:
- W-2 forms will be mailed to your employees to the addresses indicated in the employee profile by January 31, 2022.
- Review your tax forms and payments within QuickBooks Online.
- QuickBooks Online Payroll Core, and Premium who have opted out of our
automatic tax payment and form filing.) must
- Send W-2s to your employees.
February 28 and March 31, 2022
- If you use our e-file service, e-file your 1099-MISC by March 29, 2022 so they can be processed by March 31, 2022.
- If you don't use e-file, 1099-MISC must be mailed to IRS by February 28, 2022.
Which 2 forms related to employees and contractors do you need to file at year end?
Forms 1099-MISC and 1099-NEC.
Which 2 forms do you need to send to prepare for year end payroll and contractor reports?
Gather your payroll tax forms
Form W-2: Used to report wages and withholdings to the IRS. Form W-3: Summarizes W-2 information and is submitted to the SSA with the W-2s. 1099-NEC: Reports wages for independent contractors.
What two forms are associated with employees and contractors?
A Form 1099 is issued to an independent contractor to report their income to the IRS. They pay their taxes since they are self-employed. A Form W-2 is given to employees to report their income and payroll taxes withheld.
What are 1099 accounts in QuickBooks?
QuickBooks Online has a time saving feature to help you prepare your 1099s from the info you already have in your accounts. 1099s are the tax forms you need to file with the IRS when you pay contractors in cash. See What is a 1099 and do I need to file one? for more general info.