Taxable life insurance

How do I entered the taxable portion of Life Insurance (amount per IRS table) for those employees that receive more than 50,000?  I need to add this to the last payroll check so that it is taxed and shows up on Form W-2.

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    You can create an Employee Field for this purpose, making sure that you ADJUST the Tax Calculations that need to include this field as part of their Taxable Income, and then create a dummy Payroll Check that only has this value on it. This will add the amount to the W2 Form as part of the Taxable Income for the various Tax Calculations, and if you also modify the Payroll Settings to include this value in either Box 12 or Box 14 of the W2 Form, the value you entered will also appear on the W2. If you should need additional assistance with this process, please reach out to us at https://pcosupport.com.