When running the off-cycle payment, select Bonus or Supplemental Pay as the payment type and enter the desired amount under the Additional Pay column. You can pay year-end bonuses by running an off-cycle payment. We recommend processing payroll as early as possible. Note: Off-cycle payrolls processed in 2022 may result in tax penalties. You’ll be able to send off-cycle payments and contractor payments for 2021 until January 7, 2022. If you’d like wages to be included in 2021 Form W-2s, make sure the pay date recorded in Square Payroll is in 2021 before sending. Any paychecks with a January 2022 pay date-regardless of the actual pay period-will be included in 2022 tax filings and annual Form W-2s. Payroll taxes are due based on the pay date, not the days employees worked.
Payments made by Januwill be reported on their 2021 Form 1099-NECs. Add the contractors and paid amounts, then confirm the pay run. Choose the pay period and set the payment method to Pay All by Check to ensure the contractor is not paid an additional time. If you have not transferred your year-to-date payroll history yet, please contact us as soon as possible and we will attempt to accommodate this request.Ĭontractor payments made prior to switching to Square Payroll can be made by signing in to Payroll in Square Dashboard. Previous payroll history should be provided to Square Payroll immediately after switching providers. Learn more about adding employees to Square Payroll. You are responsible for providing Form W-2 to all employees you paid in 2021. Add all former team members to Square Payrollĭouble-check that all employees you’ve paid this year-including those who no longer work for you- have been added to Square Payroll. Learn more about downloading, verifying and distributing Form W-2 and Form 1099-NEC. We will begin filing the tax forms on Januand digital copies will be available to your team through their online Team Member dashboard or in the Team App. The last day to make changes to the draft Form W-2s and Form 1099-NECs is January 7, 2022. This information will be printed on each of their Form W-2s and/or Form 1099-NECs. Review team member informationĬonfirm your employee and contractors’ first and last names, Social Security numbers (SSN), and home addresses by going to Staff > Payroll > Payroll Team in Square Dashboard.
If you want to opt into sending paper mail you must do so by January 7, 2022. There is no additional cost to have Forms W-2 and/or Form 1099-NEC mailed at this time. If you prefer that your team receives mailed paper versions of their tax forms, you’ll need to opt in from your Payroll Settings by January 7, 2022. In an effort to go green, Square Payroll sends annual tax forms W-NEC to your team members electronically by default. Review Form W-2 and/or Form 1099 paper mailing settings Note: Additional state filings for AR, IA, MN, NJ, and OH will be completed by the state deadline of February 28, 2022. If you opt in to paper mail by January 7, 2022, physical copies will be mailed to each of your team members. Finalized Form W-2s and/or Form 1099-NECs are are filed with the tax agencies and digital copies are posted to your online Square Dashboard. Last day to delete a payroll run or a team member’s pay stub from your payroll history and exclude the pay and tax information from your filingsĪnnual 2021 and Q4 2021 tax filings complete.
Last day to update team member's name, SSN, and address on draft forms Last day to run an off-cycle or contractor payment for 2021 Update benefits, sick and/or and paid time off Update State Unemployment Insurance (SUI) tax rateĭecember 31, 2021, or before your first payroll run with a 2022 pay date Review and update paper mail settings for Form W-2 and/or Form 1099-NEC. Note: Draft Form 1099-NECs begin to generate on December 27, 2021. Note: Draft Form W-2s are available year-round in your Tax Forms tab.