Karma Global lays impetus on US Compliance Calendar 2022 stressing important payroll filing dates in July 2022
Karma Management’s Payroll Bureau has a team of experts that can help employers manage their payroll accurately and efficiently, be it at home or in the US.
“Karma Global’s payroll team is always friendly and professional, they enjoy what they do and this reflects in the quality of their work. They are consistent and responsive, delivering global payroll on time and that too, every time, and their services are highly commendable and this is what the global clients say, especially clients in the US.”
“Karma Global’s payroll team is already attached to payroll processing of the U.S.A with a determined set of highly trained and professional people. The main reason for this stability and growth is their dependability, reliability, and a high degree of responsiveness, aimed at timely delivery with accuracy and steadiness.”
The US Compliance Calendar contains important payroll filing dates and information every payroll global payroll professional needs to know during the current calendar year such as:
- Filing dates for Forms W-2 and 941
- Distribution of Forms W-2, 1095-C, and 1099-MISC
Note – Social Security Tax Deferrals from 2020:
Payment of deferred employer share of social security tax from 2020
If an employer deferred paying the employer’s share of social security tax in 2020, 50% of the employer’s share of social security tax is due by January 3, 2022, and the remainder by January 3, 2023. Payments or deposits made before January 3, 2022, are first applied against the first 50% of the deferred employer share of social security tax, and then used against the remainder of the deferred payments.
Payment of deferred employee share of social security tax from 2020
If an employer deferred withholding and payment of the employee’s share of social security tax on wages and compensation between September 1 and December 31, 2020, the employer must withhold and pay those taxes no later than January 3, 2022.
Karma Global – 2022 Daily US Payroll Compliance Dates and Information
JULY 1 – Deposit social security, Medicare, and withheld income tax for payments on June 25, 26, 27, and 28 if semi-weekly depositor.
JULY 7 – Deposit social security, Medicare, and withheld income tax for payments on June 29 and 30, and July 1 if semi-weekly depositor.
JULY 8 – Deposit social security, Medicare, and withheld income tax for payments on July 2, 3, 4, and 5 if semi-weekly depositor.
JULY 13 – Deposit social security, Medicare, and withheld income tax for payments on July 6, 7, and 8 if semi-weekly depositor.
JULY 15 – Deposit social security, Medicare, and withheld income tax for payments on July 9, 10, 11, and 12 if semi-weekly depositor.
Deposit social security, Medicare, and withheld income tax for payments in June if monthly depositor.
For nonpayroll withholding: If the monthly deposit rule applies, deposit the tax for payments in June.
Shortfall deposits by semi-weekly depositors for deposits made June 1 to 30.
JULY 20 – Deposit social security, Medicare, and withheld income tax for payments on July 13, 14, and 15 if semi-weekly depositor.
JULY 22 – Deposit social security, Medicare, and withheld income tax for payments on July 16, 17, 18, and 19 if semi-weekly depositor.
JULY 27 – Deposit social security, Medicare, and withheld income tax for payments on July 20, 21, and 22 if semi-weekly depositor.
JULY 29 – Deposit social security, Medicare, and withheld income tax for payments on July 23, 24, 25, and 26 if semi-weekly depositor.
State Unemployment Wage Bases
Taxable Wage Bases 2019 – 2022
State unemployment insurance taxes are based on a percentage of the taxable wages an employer pays.
The Federal Unemployment Tax Act (FUTA) requires that each state’s taxable wage base must at least equal the FUTA wage base of $7,000 per employee, although most states’ wage bases exceed the required amount.
Some states apply various formulas to determine the taxable wage base, others use a percentage of the state’s average annual wage, and many follow the FUTA wage base.
A chart of State Taxable Wage Bases for 2022, 2021, 2020, and 2019 is available. Karma Global in their payroll process notably highlights states that have changed their wage base for 2022.
Reach us for more information.: +91-9223192906
Kush Modi – Marketing @ 9890398953 / enquiry@karmamgmt.com / www.karmamgmt.com