As we approach the end of 2022, we want to check in with you and ensure that you are prepared for the coming withholding tax annualization process or what we like to call, “Year-End Tax Activities.”
Every company aims to have zero major incidents for the year-end. To meet this goal, it is important to eliminate procedural mistakes resulting in inaccurate information and employee complaints.
Here are 6 questions to help you gauge your preparedness in delivering a smooth, error-free year-end:
Have you been actively auditing your monthly tax?
Have you been correctly encoding your employees’ previous employer information?
Have you been using the correct pay codes in your payroll transactions?
Have you been properly tagging your employees as MWE or non-MWE?
Have you been accurately updating your employees’ tax status (S-Single, Married-ME)?
Have you been quick in explaining the withholding tax computation to your employees?
If you confidently answered “YES” to all of the above - Congratulations! It means that you are year-end ready!
If you answered “NO” to any one of our 6 questions, fret not!
We invite you to participate in our 2-Hour Live Webinar on Year-End Tax Activities, which covers the following topics:
How to Conduct Tax Audit
Encoding Previous Employer Information ver2.0
Change in Earning Classification from MWE to non-MWE; Correct tagging of S/ME
All about BIR Form 2316 and Alphalist
1% Philhealth Differential
Q&A
The training session will be recorded and all learning materials will be shared with all registered participants.
In case you are unable to attend the live webinar, an email digest that contains how-to’s, infographics, recording links, and information about the tax annualization process will be sent. They will also be made available to our Knowledgebase. Ensure that you have an active profile on our Helpdesk prior to accessing the materials.
Note that the above will be made available to both Payroll and myHR clients, free of charge.
To register for the live webinar, click here.