OVERVIEW
Everee provides the ability to track and deduct HSA contributions and other contributions/deductions for each employee. These contributions/deductions are configurable inside of each employees profile through the People tab of Everee. These contributions/deductions are properly treated each time that your run payroll.
WHAT HAPPENS AT YEAR END?
Everee, as the leader in Payroll 2.0, built our system to calculate contributions/deductions on a daily basis and as such you should expect a proration based upon the number of days in the pay cycle. For weekly employees, please see the following article. At year end, contributions and deductions are calculated and reported based upon the date payroll is paid. The date is particularly important because if payroll was paid on or before 12/31/2020 all contribution/deductions will utilize the regulatory maximums of the 2020 year, regardless of the pay period. If payroll was paid after 12/31/2020, all contributions/deductions will utilize the regulatory maximums of the 2021 year.
Please expect this treatment on all reports, W2's and other required company tax filings.
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