Passport 2014 Year-End Updates.
This year Passport will be providing 2014 Year-End updates ONLY for Passport Versions v12.01, v12.02 and v12.03.
all customers who wish to have these updates installed must have a PUP-current license installed in order for the year-end update to be applied to their system. If you are using either the Payroll or Accounts Payable modules, you must upgrade your Passport to one of the above listed versions in order to have the 2014 update installed.
1099 and W2 changes include:
Accounts Payable
1099-MISC Form and Magnetic Media changes:
Box 11, Foreign tax paid, and Box 12, Foreign country or U.S. possession, were deleted. This information is now reported on Form 8966, Foreign Asset Tax Compliance Act Report.
Payroll
(New) Printing of W3s (for PBS v. 12.03 only)
PSI has updated W-2 Box 12, Code Z field name changes.
PSI enforces new W-2 requirements for employee name and social security number for electronic (magnetic media) wage reports.
Effective January 2015, the Social Security Administration will return electronic and paper wage reports which contain a W-2 with any of the following conditions:
- Medicare wages and tips are less than the sum of social security wages and social security tips,
- Social Security tax is greater than zero and Social Security wages and social security tips are equal to zero, and Medicare tax is greater than zero,
- Medicare wages and tips are equal to zero.
If the above conditions occur in an electronic wage report, the SSA will notify the submitter by email or postal mail to correct the report and resubmit it to the SSA. If the above conditions occur in a paper wage report, the SSA will notify the employer by email or postal mail to correct the report and resubmit it to the SSA.
Passport checks all three conditions to prevent submitting invalid electronic (magnetic media) wage reports.
Passport recommends Trainor Business Forms for Passport users needing to purchase W-2’s, checks and forms,
If you need to update your PUP subscription, please contact the CCS Retail Systems Sales Department.
For help with year-end updates and procedures contact our support department support@ccscentral.com
– John