Quarterly Tax Reporting

Question :

What are Quarterly Tax Reports and how to file them:

Answer:

Tax ReportsTax reports contain information related to wage reporting, and they provide the forms and formats required for reporting payroll data to federal, state, provincial, and local taxing authorities.Tax reports have the prefix TAX. The special numerical series in the TAX SQRs are as follows:


• CTX: Related to Canadian T4, T4A, RL-1, and RL-2 reporting processes.

• TAX103: W-4 exempt employees.

• TAX113: Reset W-5 EIC earned income credit (EIC) employees.

• TAX700-799: Tax tables.

• TAX800-899: Processes to create files for states that must submit quarterly state wage listings on magnetic tape.

• TAX900-999: Related to W-2 and 1099 wage reporting processes.

State Quarterly Wage Reporting FormatsUsing data generated by Payroll for North America, there are three ways that you can submit quarterly wage reports:

•Paper reporting - TAX002xx.SQR

• Electronic file - TAX810xx.SQR

•TIB-4 (old SSA format)

•ICESA (Interstate Conference of Employment Security Agencies)

• Magnetic media - TAX860xx.SQR

•State-unique formats

•EFW2 -SSA format (formerly MMREF-1 format)

TAX810XX and TAX860XX - Quarterly UI Wage Tape: The output is produce in the electronic/magnetic media format. It can be copied to diskette or tape before filing. Some states use the TAX860XX format, which creates the file using the MMREF format.

The state-specific versions of this report have self-explanatory prompts. You can specify the calendar year and quarter on the Define Tax Reporting Parameters page, found under the Quarterly Processing menu.

Where applicable, choose between the TAX810XX and TAX860XX formats from the choices displayed in the process list that appears after you click the Run button on the run control page.

To submit in Paper Format use - Quarterly State Employee Wage Listing (TAX002xx) SQR Report/Process.

Menu Path:

Payroll for North America, U.S. Quarterly Processing, State Quarterly Wage Reporting, State Wage Listing Report

To Submit in Magnetic media, not using the MMREF-1 format use Quarterly UI Wage Tape (TAX810xx) orTo Submit in Electronic or magnetic media using the MMREF-1 format use Quarterly UI Wage Tape (Tax 860xx).

Menu Path :

Payroll for North America, U.S. Quarterly Processing, State Quarterly Wage Reporting, Create Magnetic Media

When you run the Tax810xx or Tax860xx processes, you get the files as shown below:

•TAX810xx & TAX860xx

•One file created for companies with different company

•Exception is Nebraska

•TAX810xx.nnn

•One file created for companies with different company but multiple files may be created if the data will not fit diskette

•“.nnn” represents a volume number

•T810xxnn

•Separate files are created for each company EIN

•“nn” represents a volume number for each company

If you are not filing by magnetic media, use the TAX002xx report, which is designed to print directly on the state form for those states that require submission on their forms.

For Filing with different states, you need to check each state unemployment website. If your employer is multistate, then have a document with all links pointing to the state unemployment tax sites. If you file using electronic filing, your payroll or tax department should register first using your company FEIN or State Employer Identification Number with the respective state and then use the ID to submit the file. Depending on the state validation process it may take time to get back the results of the upload. Some of the tax data might be incorrect. So, your payroll or tax department must make sure that the tax balancing reports (like TAX900, TAX017, TAX010ST ,TAX010FD , TAX004, TAX004ST etc) and run at regular intervals.

Check here how PeopleSoft Quarterly balancing is done

Example: if you want to file for Wyoming, here are the steps:

1. Make sure that Quarterly tax reporting parameters are setup.

2. Run the Quarterly UI Reports Wyoming (TAX810WY.SQR) or (TAX002.SQR)

3. Get the file TAX810xx.nnn (if filing through electronic) from the server

4. This must be FTP'd to the Payroll or Tax user who submits it to state

5. Verify the tax file is correct format.

6. Use https://doe.state.wy.us/wire/ to login and upload the file

7. Get validated results if the submitted file is OK or NOT OK.

8. If file not ok, fix the TAX Data and re-submit.

Take a look at this step by step document:

Click here