Most federal and state tax agencies prepare for the upcoming calendar year starting now. This process includes notifying employers about tax updates. We encourage you to carefully review any notifications you may receive from tax agencies, including:
- Notice of Unemployment Rate Change
- Notice of Federal or State Filing Frequency Change
- Deposit Requirements Notice (Federal or State)
If you receive any notices from these taxing agencies, you will want to provide this information to your payroll processor as soon as possible to ensure everything is updated for 2023. Failure to update changes for 2023 could result in penalties for under or timely payments.
If you have any questions, please reach out to your payroll provider or tax advisor.