JD Edwards EnterpriseOne U.S. Payroll Year-End Processing Overview

This guide describes how to perform year-end tasks related to payroll, including year-end rollovers, year-end form processing, and year-end information reporting.

Employers who have paid wages to and withheld taxes from their employees during a calendar year have to report these amounts to their employees and to the Social Security Administration (SSA).

Employees use W-2 forms to complete their personal income tax returns and pay any amount owed to the Internal Revenue Service (IRS).

The SSA uses information from W-2 forms to properly credit employees' earnings and benefit accounts. The SSA shares earnings and tax information with the IRS.

To ensure that employment tax returns (such as form 941), that are sent to the IRS agree with the amounts totalled in the W-2 form and W-3 form. The IRS and the SSA compare the following amounts:

• Federal income tax withheld

• Social Security wages and tips

• Medicare wages and tips

• Advance earned income credit

For detailed instructions about preparing employment tax returns and year-end forms, please contact the IRS or the SSA.