Payroll 210 Badge #06 - Federal and State Tax Reporting-Payroll 210 Badge #6

Payroll 210 Badge #6 - PowerPoint

Pdf Summary

Badge #6 covers the payroll professional’s responsibilities for federal and Washington State tax reporting, depositing, and year-end reconciliation for school districts. Payroll staff must collect and review required federal/state tax forms and district employment documents, stay current on changing laws, and process payroll accurately and on schedule under district policies, bargaining agreements, RCWs/WACs, and the Common School Manual. District boards authorize employee compensation (RCW 28A.400.200).<br /><br />The badge outlines required reporting for retirement, state taxes, Paid Family and Medical Leave (PFML), workers’ compensation, and unemployment insurance, plus key federal taxes: Social Security (6.2% employee and 6.2% employer, up to an annual wage base), Medicare (1.45% with an additional 0.9% over $200,000 wages for employees), and federal income tax withholding. It emphasizes the Constructive Receipt Doctrine: taxable wages are taxed when paid, and corrections are reported in the year the adjustment is made.<br /><br />It explains federal tax deposits (typically via EFTPS) and how deposit schedules are determined using the IRS “lookback period” (July 1–June 30). Large liabilities ($100,000+ in a day) trigger next-banking-day deposit rules and may require Schedule B. Districts file Form 941 quarterly, can file by mail or electronically, and use Form 941c to report adjustments. Payroll professionals should not sign Form 941; an administrator should sign due to liability.<br /><br />A major focus is reconciliation: ongoing payroll-to-register checks, monthly deposit balancing, quarterly 941 reconciliation, and annual reconciliation ensuring Form 941 totals match W-2s. The badge details W-2 requirements, deadlines (employee copies by Jan 31; SSA electronic filing encouraged/required for large filers), handling duplicates securely, and defining Box 1 taxable wages (gross pay adjusted for items like retirement deferrals, cafeteria plans, 403(b)/457, VEBA, and taxable fringe benefits). It also covers ACA Forms 1094-C/1095-C deadlines and Washington PFML premium calculations and quarterly reporting through SAW, with resources and final assessment requirements.

Keywords

Washington State school district payroll

federal and state tax reporting

EFTPS federal tax deposits

IRS lookback period deposit schedule

Form 941 quarterly filing

Form W-2 year-end reconciliation

Social Security and Medicare withholding

Washington PFML quarterly reporting (SAW)

payroll tax reconciliation and adjustments (Form 941c)

ACA Forms 1094-C and 1095-C reporting