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Create Payroll Records to Repay Deferred Social Security

Use this toolkit to generate an X-type payroll record that will be used to repay an employee's deferred Social Security withholding tax.

An X record will be generated for any employee that meets the following criteria:

  • The employee is in the toolkit screen's employee selection criteria.
  • The employee has a record in the Manage Payroll Records table with the same pay cycle as the toolkit screen pay cycle.
  • The employee has a Manage Deferred Tax Payments record, where the toolkit's Check Date is between the Payment Period Start Date and Payment Period End Date that are set up to repay deferred Social Security withholding for the check date specified on the screen.
  • The employee's deferred Social Security withholding has not been fully repaid.
  • The employee does not already have an X or Y record in Manage Payroll Records where the Deferred Social Security Withholding Repayment check box is selected.
  • The employee has an R-type (Regular) or B-type (Bonus) record in the Manage Payroll Records table where:
    • The check date is the same as the Check Date specified on this toolkit screen.
    • The check number is not populated (a check or payment advice has not yet been printed for the payroll record).
    • The R (Regular), W (Replacement), or B (Bonus) record has positive net pay.

If the employee already has an X record in the Manage Payroll Records table that is not flagged as a Deferred Social Security Withholding Repayment record, then a Y record will be generated. If the employee already has X and Y records that are not flagged as a Deferred Social Security Withholding Repayment record, then an error message will print on the error report. No X or Y record will be created for employees if they already have a Deferred Social Security Withholding Repayment record in the Manage Payroll Records screen.

Before running this toolkit, ensure the Manage Deferred Tax Payments screen is set up for all of the affected employees. The Manage Deferred Tax Payments screen setup provides the instructions on how to generate the repayment records. It is used to do the following:

  • To determine the employee's balance due, the amount paid to date will be subtracted from the Total Deferred Amount.
  • To determine the repayment amount for the open pay period, the employee's remaining balance will be prorated over the number of remaining pay checks between the Payment Period Start Date and Payment Period End Date. If the Apply Override Amount check box is checked in the Manage Deferred Tax Payments screen, the Override Amount per Check will be used instead of the calculated repayment amount. If the repayment amount is greater than the net pay from the employee's R (Regular), W (Replacement), or B (Bonus) payroll record, the repayment amount will be reduced so that the total net pay does not go below 0.00.
  • If the Party Responsible for Payments is set to Employee the repayment amount will be withheld from the employee and you will see that amount in the Employee Social Security Withholding field in the Manage Payroll Records screen. Otherwise, if the Party Responsible for Payments is set to Employer the repayment amount will be withheld from the employer and processed as an Employer Social Security Accrual in the Manage Payroll Records record.

Timing: You must perform the following steps in order to process the repayment correctly:

  1. If you are using the Create Payroll Records to Repay Deferred Social Security toolkit to generate the repayment records, ensure you have check dates assigned to your pay periods in the Manage Pay Periods screen. Each pay period with a check dated within the deferred Social Security withholding repayment period must have a check date assigned to it in order for the repayment amounts to be calculated correctly.
  2. If the employee is responsible for repaying the deferred Social Security withholding, compute a Regular or Bonus payroll for the affected employee in the Compute Payroll screen. If the employer (not the employee) is responsible for repayment of the deferral, then this step is not necessary.
  3. Run the Create Payroll Records to Repay Deferred Social Security toolkit or manually enter the repayment record in the Manage Payroll Records screen.
  4. Print paychecks or payment advices.
  5. Post payroll.
Note: If you void a check, the deferral X or Y record will not be voided along with it. You'll have to create an X or Y record to reverse the deferral repayment