New regulations now require COVID salary payments to be reported in box 14 on employee’s Form W-2 2020.
If your organization has issued COVID salary payments, as defined by the Department of Labor, then you will need to report those payments using the new Form W-2 2020 in box 14.
If you use Shelby Financials’ Payroll application, then follow the instructions provided by the link below to record COVID payments. Taking action now will save you time when you go to distribute Form W-2 2020.
If you outsource your Payroll, then you will need to let your Payroll service know which employees, dates, lengths of time, and which categories paid salaries are COVID related. (See DOL’s Instructions for more information.)