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US Legislation - Mid year Payroll Go-Live with 2 - W2s - Balance conversion
Our customer wants to go live on 1-Apr-2024 and they are fine with 2 W2s at the end of the year to avoid the balance conversion process.
Could you provide inputs on the following:
- Do we have to do any balance initialization or adjustments? for any taxes, 401k, etc.
- How does the employee limit tax with small limits would work? e.g. SDI EE, SUI EE, Social Security EE. As we would not do any balance conversions the employee will pay taxes in the legacy system for the first quarter and it would start from 0 again in Oracle.
- How does the employer limit tax with small limits would work? e.g. SDI ER, SUI ER, . As we would not do any balance conversions the employer will pay taxes in the legacy system for the first quarter and it would start from 0 again in Oracle.
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