Salary and Payroll Forms
Which Most Important Salary Forms Do You Need?
If you deal with job salary in the payroll department, there are some essential forms you need for properly handling the compensation of salaried and exempt employees. The following overview describes the uses of the most essential salary documents:
Salary verification - When a lender or landlord makes a request for salary verification, a signed wage authorization and release should be obtained from the employee before the verification form is released to the requesting party.
Salary exception - When a request for an amount higher than the average salary payment is made, such as when recruiting highly qualified candidates, or a bonus or incentive pay is given, this form is often used. If the amount being offered to an employee is above the annual salary authorized for the position, some employers may require this form to be submitted and approved.
Expense account - A salaried employee often has an expense account and must submit this form for accounting and/or reimbursement of expenses such as meals, travel costs, and mileage.
Salary advance - A salary advance is essentially a loan to be taken out of future salary wages. A salary advance request needs to meet the employer's criteria for approval. Documentation of the request, approval, minimum salary deduction, and repayment is crucial. Otherwise, if an employee quits, the sum advanced may also disappear.
W-2 - This is a standard tax form used to report wages and deductions from wages and salaries to the IRS. The employer must meet established deadlines for filing the W-2 with the IRS and providing a copy to the employee. A W-2C is used to report corrections to a previously filed W-2 form. In 2012, the deadline for employers to file a paper copy W-2 with the IRS is February 29th and the employee's copy must be delivered by January 31st of 2013.
Salary increase - An employee seeking a raise may be required to submit a form for approval. There are forms that allow an employer to use a salary calculator to determine if the company can afford to give an increase in salary. Even a cost of living increase may need to be approved through a board resolution.
US Legal Forms offers a wide variety of professionally drafted, affordable forms to meet your payroll department needs. We have a vast selection of forms for a salaried employee, including salary verification, board resolutions, salary review and increase forms, and much more. In addition, we have hundreds of forms for personnel records, whether you're dealing with minimum wage, hourly employment, independent contractors, or executive and exempt employees.