Payroll start of year (US)

Plan for the beginning of the financial year by applying any tax filing and deposit schedule information before the end of the first quarter each year.

How it works

It is important to adjust your payroll settings each year to include any changes passed on by the IRS and state government agencies.

Most states require that businesses update their tax and filing details for the upcoming year before March 31, or even earlier, so that all benefits and deductions, and other pay items, are correctly applied and managed for each pay run and quarter in the year following.

Start of year tasks

  1. Review and update state unemployment tax rates in Xero.

    Payroll tax calculations

  2. Review and update your deposit schedule in Xero.

    Add tax forms, tax rates, and a deposit schedule