Close payroll year-end

Issue W-2s and 1099s and file them on time for a client's year-end.

1. Confirm employee names, addresses and SSNs
2. Collect a W-9 from every contractor paid. Most people forget this: Without a W-9 you may have no valid TIN, which brings IRS penalties and can trigger backup withholding.
3. Reconcile payroll to the quarterly 941s
4. Total contractor payments from the ledger
5. Review W-2 and 1099 drafts (Reviewer signs off)
6. Get the client to approve the forms (Client signs off)
7. Send W-2s and 1099-NECs to workers by January 31. Most people forget this: January 31 is also the IRS and SSA filing deadline for these forms, with no automatic extension for 1099-NEC.
8. File with the SSA and IRS
9. File the annual 940

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