2020 Year-End Tax Forms

16 December 2020 StephanieE Customer Information
As the end of 2020 approaches, we would like to suggest the forms, perforated paper, and envelopes that you may need to purchase for processing W-2s, 1099s, and ACA forms (for CenterPoint Payroll only). Forms, perforated paper, and envelopes can be purchased from Computer Forms, Inc. at redwing.computerforms.biz, by calling 800-458-0158, or by clicking the Order Checks and Forms icon on the Red Wing Software website. All 2020 forms are 25% off until December 31, 2020 (use promotion code RWCFITD when ordering).
From the Computer Forms, Inc. website, select Tax Forms, select the product you use, for example CenterPoint, Red Wing Payroll, or TurningPoint, and then select Order Laser W-2 Forms, Order Laser 1099 Forms, or Order ACA-1095 Forms (for CenterPoint only) to display the W-2, 1099 or ACA forms, perforated paper, and envelopes.
Note: The W-2 and 1099 forms (excluding the Federal Red Copy) can be printed on the same plain perforated paper (if you choose to order the blank perforated paper with no backer instructions) and use the same envelope. You can print the W-2 and 1099 forms on plain paper, but the IRS recommends the forms be printed on perforated paper. The W-3 can be printed on blank plain paper.

2020 Year-End Procedures

14 December 2020 StephanieE Customer Information
Software Program Year-End FAQ Document
CenterPoint Accounting Click Here
TurningPoint Accounting Click Here
CenterPoint Payroll Click Here
Red Wing Payroll Click Here
CenterPoint year-end documents can also be accessed directly from the Help section. From our website at www.redwingsoftware.com select Menu, under your CenterPoint product, select Help. In the Search bar, enter Year-end Frequently Asked Questions or by logging into our website at www.redwingsoftware.com from the My Account Home page, select End of Year.
TurningPoint Accounting year-end documents can be accessed directly from our How2 Documentation. Log in to the Red Wing Software website at www.redwingsoftware.com, select Menu > Legacy Products > TurningPoint > How2 Documentation, and then select End of Year > End of Year FAQ or by logging into our website at www.redwingsoftware.com from the My Account Home page, select End of Year.
Red Wing Payroll year-end documents can be accessed directly from our How2 Documentation. Log in to the Red Wing Software website at www.redwingsoftware.com, select Menu > Legacy Products > Red Wing Payroll > How2 Documentation, and then select End of Year > End of Year FAQ or by logging into our website at www.redwingsoftware.com from the My Account Home page, select End of Year.

Payroll Tax Holiday

09 September 2020 StephanieE
On August 8, 2020, President Trump signed an executive order calling for a deferral of the employees’ portion of the payroll Social Security tax from September 1, 2020 through the end of the year. On August 28, 2020, the Department of Treasury and IRS issued guidance for implementing the executive order. If you want to offer the payroll tax holiday to your employees, Red Wing Software recommends consulting your tax accountant to determine the best way to handle the change to your payrolls. If you have any questions about how to implement your plan in CenterPoint Payroll, contact Red Wing Software Technical Support.

Red Wing Cloud Services Presents a NEW Fresh Interface

24 August 2020 StephanieE
Ready for the Cloud? Check Out the New User Experience!
Have you been thinking about going to the cloud? There’s no better time to make the switch! Red Wing Software has recently ramped up the cloud experience, making the interface easier to use. And all the benefits of moving to the cloud still apply.
• Work from anywhere an internet connection is available.
• No more need for complex hardware setup and performing software updates.
• Data backups done automatically.
• Seamless, quick transition from the installed version of CenterPoint.
Give us a call today and get started using CenterPoint in the cloud!

CARES Act COVID-19 Reporting Updates

13 August 2020 StephanieE
Congress recently passed coronavirus tax relief bills (CARES Act) to help businesses deal with the COVID-19 pandemic. The 2020 Form 941, through our Aatrix tax forms software, is now available. If you have been using our recommended CARES Act COVID-19 paid leave setup process with the ability to select Retention Credit pay runs outlined in the document below, the 2020 Form 941 will automatically perform the new required calculations. If you did not follow the CenterPoint COVID paid leave setup process, the COVID-19 information will need to be manually entered on the 941 form in Aatrix (Retention Credit pay runs can still be selected). CenterPoint Payroll also has access to Form 7200 - Advance Payment of Employer Credits Due to COVID-19, and other CARES Act COVID-19 reports including PPP Payroll Cost reports to assist in completing the PPP Loan Forgiveness Application.
Click here to view documentation on CenterPoint Payroll and COVID-19 Paid Leave. Or from within CenterPoint Payroll, select Help > CenterPoint Help, and then enter COVID-19 in the Search bar.