As the year ends, it’s time to make sure that all the data entered into your Fingercheck account is correct.
We have started our preparations to file the relevant forms on your behalf. Now, we want to double-check that all the information is accurate. We’ve also created a resource for you.
If any payroll data hasn’t been added to your account yet, you have until Friday, December 29 to upload that to Fingercheck. If you add data after that, you will face late processing fees.
Areas where we see mistakes
We’ve noted those areas so you can recheck your figures to ensure a smooth process.
- Verified SSN for W-2
- Verified SSN for 1099
- Any Third-Party Sick Pay
- S-Corp Medical
- Manual Checks (paid and accounted for)
Fingercheck’s additional filing services
Our goal at Fingercheck is to ensure that you file properly each year. To help you reach that goal, we automatically add these additional filing services to your account. Not interested in those? That’s OK, you can opt-out.
We handle your Non-Employee Compensation 1099 Filing. If you’d like us to do this, you don’t have to do anything. We will mirror what we did for you in 2022. However, if you’d like to opt out of this feature, please do so by Friday, December 29, 2023.
Note: We only file 1099-NEC for the federal portion on your return. For any state that requires a state 1099, you are responsible for filing that on your own. Our Support Team can be reached by phone, email, chat, or our 24/7 virtual assistant if you have questions.
To make the process as easy as possible, please review all Social Security Numbers and wages for accuracy. If changes are needed post-filing, amendments may be necessary, which can be quite costly (and that’s the last thing we want for you and your business).
These are the 2023-24 1099-NEC Participating States:
Any company that has more than 50 full-time employees in the preceding calendar year must offer health insurance.
There is an additional IRS filing requirement that shows compliance on your behalf. At Fingercheck, we are happy to file this for you for a fee.
If you haven’t taken care of this form yet, please act now and contact firstname.lastname@example.org by no later than Monday, December 18, so we can get this ready and filed in time.
Forms and deadlines
Quarter End Packages are due on Wednesday, January 24
Year-end forms are due by Wednesday, January 31
W-2/1099 forms are due by Tuesday, January 16
Where do I find my forms?
Your forms are located on the Fingercheck platform under the “Payroll” tab. Here’s how to find them:
- Log into Fingercheck
- Select Payroll
- Select Forms & Notices
This is where you can always access all your available forms. Want a more in-depth guide? Check out this article.
What else should I know?
As you prepare for the end of the year, we have four tips on how you can easily do this all on your own. But don’t worry, we’re here if you need us.
Tip 1: Process early to avoid fees
You’re busy. We get that. But when you review, correct and submit missing records early, you avoid penalties and late fees. And saving money is always good.
Tip 2: Review your check dates when processing voids
Whenever you void a check, make sure you are voiding it in a payroll run in which the check date is set on or before the end of the quarter.
If there are no existing runs with dates in the current quarter available to you, create a Special Payroll dated for the last day of the quarter. You can use that payroll run for the voids. If this sounds complicated, don’t worry: We promise you it’s not. For information on just how to create a Special Payroll, click here.
How voids & negative payrolls affect you
If you process a payroll that results in a negative balance, such as when voiding checks, we apply the resulting credit toward your next tax liability.
This sometimes forces us to pay out-of-pocket (providing you with a free interim loan). If that happens, your account will automatically be drafted to recoup that money. Usually, this draft happens within the first week of the new quarter. Be on the lookout and be mindful to prevent negative balances and avoid unnecessary overdrafts.
Tip 3: How we handle the quarter-end variance
At the end of every quarter, there’s a possibility for a “variance” — a situation in which the amount(s) a business owes and the amount(s) a business pays toward certain taxes do not match. This can occur for a variety of reasons.
To address this, we run an audit at the end of each quarter to ensure that you are not underpaying or overpaying. If you are, we take action to correct it.
If a variance occurs, causing your business to owe money, we will send you an email a few days before the draft date to let you know what is owed. Such drafts occur automatically by Tuesday, January 16.
Please ensure that the funds are available by that time, or we will not be able to complete your filing.
Tip 4: Close all open payrolls
Make sure you close all of your Open Payrolls, especially ones with voids.
Any open payrolls that should be counted toward the 4th quarter need to have their check dates set on or before Friday, December 29, and processed on or before Wednesday, December 27.
After that, payrolls and adjustments for the 4th quarter can be processed until and through Wednesday, January 3, for a late processing fee.
You’ll need to contact us to “push” those payrolls through, so again, please submit the info early to avoid this headache.
We make year-end filings less stressful
We understand that year-end tax filings can be confusing. That’s why we are here to help! If you have any questions about your filings (or any other HR issue), please contact us:
In-app chat: Reach us using the messaging feature in Fingercheck
Virtual Assistant: Fingercheck virtual assistant is available 24/7 in-app
Customer Support hours: Monday through Thursday, 9 a.m. to 7 p.m. ET, and Friday, 9 a.m. to 5 p.m. ET.