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EPY: (YEMaster) TAX504 Information and Troubleshooting Tips (Doc ID 656647.1)

Last updated on FEBRUARY 01, 2019

Applies to:

PeopleSoft Enterprise HCM Payroll for North America - Version 8.8 SP1 to 9.2 [Release 8.8 to 9]
Information in this document applies to any platform.


Purpose

GENERAL FUNCTIONALITY: Running TAX504 updates the PENSION_PLAN field on a new row inserted in the employee’s PS_FED_TAX_DATA record based on whether you enter retirement plan-related information on the Update Year End Reporting Info (TAX504) run control page. (The value of the PENSION_PLAN field does not appear on the employee’s Federal Tax Data 2 page, but the system uses the value to complete the Retirement Plan check box in box 13 of the W-2 form.) The Effective Date of the newly inserted row will be the date entered in the Effective Date for Inserts field on the TAX504 run control page. After running TAX910LD and TAX911LD, the status of the Retirement Plan check box may be confirmed by viewing the year-end forms online.

Similarly, running TAX504 updates the THIRDPARTY_SICKPAY field on a new row inserted in the employee’s PS_FED_TAX_DATA record based on whether you enter third-party sick pay-related information on the Update Year End Reporting Info (TAX504) run control page. (The value of the THIRDPARTY_SICKPAY field does not appear on the employee’s Federal Tax Data 2 page, but the system uses the value to complete the Third-Party Sick Pay check box in Box 13 of the W-2 form.) The Effective Date of the newly inserted row will be the date entered in the Effective Date for Inserts field on the TAX504 run control page. After running TAX910LD and TAX911LD, the status of the Third-Party Sick Pay check box may be confirmed by viewing the year-end forms online.

Note:  Run this process BEFORE running the TAX910LD if your employees participate in retirement plans and you need to select the Retirement Plan check box on the W-2 form OR if you are an employer reporting sick pay paid by a third party on Form W-2.

 

Troubleshooting Steps

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In this Document
Purpose
Troubleshooting Steps
References

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