Rimini Street 2014 Year-End Tax Updateinfo.riministreet.com/rs/riministreet/images/101414PeopleSoft... · any time, without notice. ... •Details on items delivered along with rates

Rimini Street 2014 – Year-End Tax Update

PeopleSoft Year-end Webinar Property of Rimini Street ©2014 | Proprietary and Confidential 2

Safe Harbor Statement

This webinar was developed and presented by Rimini Street, Inc. (“Rimini Street”) and is not sponsored by,

endorsed by, or affiliated with Oracle Corporation or any other party. Except as noted herein or required by

law, the contents of the webinar and any documents associated with it are subject to the intellectual property

rights of Rimini Street. This webinar and the documents associated with it may also contain proprietary or

confidential information intended for disclosure only to the intended recipient, and accordingly the webinar

contents and any documents associated with it shall not be reproduced, posted, adapted or redistributed

directly or indirectly, in whole or in part, in any medium without the express written consent of Rimini Street.

The information in this webinar is provided “as is.” Except as otherwise expressly provided in writing by

Rimini Street, Rimini Street assumes no liability whatsoever and disclaims any express, implied or statutory

warranty relating to the information presented or to Rimini Street’s services, products, or inventions, including,

without limitation, the implied warranty of merchantability, fitness for a particular purpose, or non-infringement.

In no event shall Rimini Street be liable for any direct, indirect, consequential, punitive, special, or incidental

damages (including, without limitation, damages for loss of profits, business interruption, or loss of

information) arising out of the use or inability to use the information. Rimini Street makes no representations

or warranties with respect to the accuracy or completeness of the contents of the information presented, and

reserves the right to make changes to the information, services, products, or inventions contained herein at

any time, without notice.

© 2014 Rimini Street, Inc. All rights reserved. The Rimini Street word mark, logo, combinations thereof, and

other marks are trademarks of Rimini Street, Inc. Oracle®, PeopleSoft®, JD Edwards®, Siebel®, Oracle® E-

Business Suite, Oracle® Hyperion and Oracle® Fusion are trademarks of Oracle Corporation. Other terms

and product names may be trademarks of others.


Today’s Hosts

Chad Kodet

Vice President, Global

PeopleSoft Delivery

Rimini Street, Inc.

Frank Reneke

Group Vice President,

Corporate Strategy

Rimini Street, Inc.


Agenda

Rimini Street 2014 – Year End Tax Updates

Forms and Reports for 2014

Steps to Produce W-2’s

Introduction and Objective

Printing Issues

Q&A


Your Panel Today

• Rimini Street Service Delivery

• Anita Katzberg

• Chad Kodet

• Jai Ramachandran

• Nechole Whitlock

• Teresa Hintz

• Rimini Street Business Analysts

• Shelley Blackmarr

• Laurie Gardner

• Tim Pringle

Together, your team today

has over 125 years of payroll

experience and 141 collective

year-end runs.


Global Tax, Legal & Regulatory

Scoping Process

Applying a Comprehensive, ISO-Certified Methodology Ensures Compliance


Global Tax, Legal and Regulatory

Product Development

Our tax, legal and regulatory team scopes each applicable requirement by

product line and module, including the impact of the change across all

calculations, transactions and reports within your system.

Rimini Street Automation Framework Tools

As part of our ISO 9001:2008-certified methodology we have strict testing and quality assurance processes

that we follow every step of the way to ensure that we deliver complete and accurate deliverables for each

individual client. Each update package must be tailored to meet the unique client needs.


This session will give you the high level steps you are

required to perform to successfully run the

2014 W-2’s in PeopleSoft.

Session Objective

Rimini Street 2014 – Year-End Tax Updates


Where are the Tax Updates

Located?

Client hosted:

• C:\RiminiStreetUpdates folder in

your Rimini Street QA

environment

Cloud based:

• RiminiStreetUpdates folder in

your Windstream FTP account

If you are unable to locate the

update, please reach out to your

Primary Support Engineer

How Do You Find RSI Tax Updates?


• Documentation • RS14P05 – Addendum

• Addresses updates to be delivered in future

releases

• RS14P05 - Installation Instructions

• Step by Step instruction on how to apply RS14P05

• RS14P05 - Notes Summary

• Details on items delivered along with rates and

changes

• RS14P05 - Object Summary

• Objects Rimini Street Delivered in the update

• RS14P05 - PA Locals (If PA updates are delivered)

• Pennsylvania local rate changes

• RS14P05 - YE14US Reference

• Year-end Guide with details on how to run year-end

processes

• Rate Updates (Federal, State and Local) for

2015

• DMS Scripts for year-end data

• Potential code/object changes

What is in the Update?


Tax Update Structure

• Updates are specific to each of our clients versions and

needs

• May not get every folder

• i.e. May not receive a COBOL update or an SQR

update as updates are specific to each client’s needs

What is the Tax Update Structure?


W-2 Changes Since 2013

W-2 Form Updates

• There are no changes to the

2014 W-2 or W-2c layout from

2013

• The instructions to the employee

have some minor changes to

language to make it easier to

read but nothing of significance

• Instructions are on the

IRS website

http://www.irs.gov/uac/Form-W-2,-

Wage-and-Tax-Statement


Form W-2 – Details

W-2 Form Purpose

• Report Federal, State and Local

annual earnings and taxes

• Before year-end processes….

• Verify wages and taxes are correct

• Verify employees have valid Social

Security Numbers

• Verify proper W-2 forms are on hand and

printers are tested

Deadlines for W-2

• To employee: February 2, 2015

• Paper filers to SSA: March 2, 2015 • Can file via paper if 249 or less employees

• http://www.ssa.gov/employer/bsoewrug.pdf

• Refer to page 6

• Electronic filers to SSA: March 31,

2015


2015 Legislative Changes

• 2015 Rates

• RSI 2015 Tax Schedule • The 2015 delivery dates have not yet been finalized and will be included in your next regularly

scheduled Bundle (December 1st)

• Updates expected for RS14P06 (1/1/2015 Effective Date)

• States that have confirmed Minimum Wage and UI Base Changes

• Indiana and Ohio Local Rate Changes

Item Maximum Amount for 2015

HSA Self only - $3,300 to $3,350,

Family - $6,550 to $6,650

FSA Maximum contribution stays at $2,500 with Maximum carryover of $500.00.

(Does not affect $2,500 maximum contribution) – Refer to “RS14P05 –

Addendum.pdf” for additional details

401K/403b/457 $18,000 (Was $17,500) If Over 50, Catch-up limit increase to 6,000 (From

$5,500.00)

OASDI $117,000 to $118,800 (ESTIMATED in Presidential Budget, but not yet

confirmed. Effective: 01/01/2015) – RSI will deliver this update when the

legislation has been passed into law

Forms and Reports for 2014


Year-End Form Setup

RSI Supported Forms

• LSR01

• LSR02A

• LSR03P

• LSR03

• LPS4V


Year-End Form Setup by Release

• Navigations • 8.0 & 8.3 Compensate Employees > Manage Annual Tax Reporting U.S. > Setup

• 8.8 - 8.81 North American Payroll > Annual Processing > Define Annual Tax Reporting

• 8.9 – 9.2 Payroll for North America > U.S. Annual Processing > Define Annual Tax Reporting

• Tax Form Identification • Manually create 2014 Tax Form Definition and Tax

Form Print parameters

• Configuration is company specific

• Configuration to map Earnings, Taxes & Deductions

to each box on the W2

• Tax Form Reports • Tax Form Definition Report - TAX710

• Tax Form Print Parameters Table – TAX712


Year-End W-2 Company

• Beginning this tax year, 2014, the Social Security Administration is enforcing the

adherence to the efw2 specifications, Publication No. 42-007. • i.e. Location Address in ‘RA’ record, position 274-295 has been a required field since 2012. The SSA

will now identify as an issue if no value is reported in this field. If your company address does not

include (Suite, Room, Floor, and Building) enter an “Attention: (Contact Name)” in Address Line 1

and Street address in Address Line 2. PeopleSoft follows the United States Post Office Address

Standard:

• “All secondary address components should be entered immediately above the Delivery

Address Line.”

• TAX960FD.sqr is executed to create the W2 electronic file, W2REPORT, to be

submitted to the SSA. The program logic will correctly report the following:

• Location Address – Address Line 1 will be reported in RA record, posn 274-295, Length 22

characters

• Delivery Address – Address Line 2 will be reported in RA record, posn 296-317, Length 22

characters


Year-End W-2 Company


Year End Processes To Be Run

Optional Audit Reports

• TAX900 - Error Listing

• Error Listing Report to identify

errors that must be resolved

before proceeding with year-end

processing.

• Report is run as many times as

you would like

• You should plan to run the

report, review errors, clean

the errors and then run until

the report is clean.



Year End Processes • Update W-2 Information – TAX504:

Update the Retirement Plan and Third-

party Sick Pay check boxes in W-2 box

13 which inserts into FED_TAX_DATA.

• Year-end NYC Part Year Resident

Allocation – TAX909NY: Used to

determine W-2 reportable wages for

part-year New York City residents.

• Year-end Data Record Load -

TAX910LD: Year-end Data Record

Load to load data into year-end

records



Year End Processes • YE Record Error Listing - TAX910ER:

YE Record Error Listing to identify

errors in year-end record data

• YE Data Audit – TAX910AU: Year-End

Data Audit report to create a listing of

the amounts to be reported on

employee W-2 forms

• W-2 Print - U.S./Territory Print –

TAX960US: Creation of the Employee

W2’s for the United States



Federal, State and Local Files • W-2 Tax Totals – TAX916ST: State W-2

Tax Totals

• W-2 Tax Totals –TAX916LC: Local W-2

Tax Totals



Federal, State and Local Files • Federal (EF) –TAX960FD: File EF-1 to

create W2REPORT to submit Federal W-2

data electronically

• Federal Audit (EF) – TAX962FD: Federal

File Audit EF-1 to create audit report on the

file created by TAX960FD

• State File (EF) – TAX960ST: File EF-1 to

create file to submit State W-2 data

electronically

• State Audit (EF) –TAX962ST:State File Audit

EF-1 to create audit report on the file

created by TAX960ST processes

• Local File (EF) – TAX960LC: File EF-1 to

create file to submit Local W-2 data

electronically

• Local Audit (EF) –TAX962LC: Local File

Audit EF-1 to create audit report on the file

created by TAX960LC processes



Federal, State and Local Files

• W-3/W-3SS Transmittal Totals –

TAX915: W-3/W-3SS Transmittal

Totals

• FUTA Wage Reconciliation report --

TAX940 Shows totals of FUTA-exempt

payments

FUTA Wages by State report -

RSI940A, Produces the Schedule A for

Form 940 and shows the credit

reduction per state where a reduction

exists


Some Common Printing Issues

• Controlling W-2 Printing

• Refer to the “RS14P05 - YE14US Reference.pdf”

for specific details on the W2 Printing items.

• Sections:

• “Controlling W-2 Printing”

• “Positioning Starting Columns on

Unsupported Forms”

• Box 14 – Lines allowed (Review year-

end document for more details)

• Box 14 can only have 4 lines

• If it has > than 4 lines an additional W2 will be

created.

• XMLP • 9.0 and +, Need to create the Form setup online

for XMLP

• Refer to the RS14P05 - YE14US Reference.pdf

document in the XMLP section details


County of Kent, Michigan – Best Practices

• Plan and Start Early

• Dedicate a Test Database

• Run W-2 Processes Early

• Kent County runs early November

• Set Up W-2 Processes

• Kent County has spreadsheet checklist with timeline

• Ensure Enough Time for Testing

• Download AccuWage Software as soon as possible from SSA

• Tool to test TAX960FD output (W2REPORT)

• Wait Until February to Send to SSA

• In the event there are updates, you will not have to resubmit

Gerry Yon

Senior Application Support

County of Kent


2015 Reminders: Don’t Forget to…

• Update FLSA Calendars (Only if subject to FLSA) HCM 8.0 & 8.3

Compensate Employees > Manage Payroll Process (US) > Process > FLSA Calendar Period Creation

HCM 8.8 & 9.0

Set Up HRMS > Product Related > North American Payroll > Compensate and Earnings > Initial FLSA

Calendars

• Update Time and Labor Calendars (Only if running T&L) HCM 8.0 & 8.3

Define Business Rules > Define Time & Labor > Process > Build Time Period Calendar

HCM 8.8 & 9.0

Set Up HRMS > Product Related > Time and Labor > Time Periods > Build Time Period Calendar

• Create 2015 Payroll Calendars

HCM 8.0 & 8.3

Compensate Employees > Manage Payroll Process (US) > Process > Pay Calendar Creation

HCM 8.8, 9.0, 9.1 & 9.2

Set Up HRMS > Product Related > North American Payroll > Compensation and Earnings > Pay

Calendar Table


2015 Reminders: Don’t Forget to…

• Server Maintenance • Clear out old Log files

• Clean Report Repository for old stale reports

• Verify Backups are all running as expected

Questions & Answers


Webinar Slides To request a copy of today’s webinar slides or webinar related questions,

please email [email protected]

Webinar Playback The recorded version of this webinar will be available shortly after this

broadcast and you will receive an email with the playback instructions.

www.riministreet.com

Tel: 888 870-9692

Intl: +1 702 839-9671

Thank You For Attending!

Documents

Rimini Street 2014 Year-End Tax Updateinfo.riministreet.com/rs/riministreet/images/101414PeopleSoft... · any time, without notice. ... •Details on items delivered along with rates