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Blank Pay-Stub Templates | Excel | Pdf | Word - Wikidownload: What You Should Know
Employees can access their own personal pay stub by logging into they're My Payroll website, selecting the Paychecks sub-filter and selecting an employee's name or number, as well as selecting Pay stub page (either free or paid). Clicking on the link provides a pay stub template. Pay stubs include not only the date, time, and pay amount, but also the information associated with the payslip including name, employer, etc. Pay stubs show how much you earned based on your pay period and any pay withheld if required from you for taxes. Pay stubs may also provide your bank account or your employer's account number and the balance and date of the last check you made. For the employee, pay stubs provide information on how much they earned from a particular pay period and how much they owe for any taxes due. How Important are Pay Stubs to Employers Pay stubs are so important, the Internal Revenue Service (IRS) has developed a process for employers to verify that a person or entity they hire is actually an eligible payee, and they then pay that person or entity in a form that is compliant with federal tax laws. Pay stub verification involves contacting someone the person or entity was reported and getting their name, Social Security Number, and address. A pay stub is also sometimes used as a way for employers to know how much of a payment they will receive. A pay stub is useful for employers seeking to prove their employees' status before receiving compensation for their services. Pay stubs allow employers to verify the employee's income, employment status, and the amount of any salary withholding they could be responsible for. The information on the pay stub and the check it contains determine the final pay the employee will receive. Pay stubs are also useful for any employee making a payment via Direct Deposit or Electronic Funds Withdrawal (EFT) from a bank account. A pay stub can also be useful for a company seeking to verify the status of a person who is seeking employment with the company. A pay stub can also be used when an employee has taken time off and the pay stub details the date on which the employee stopped working with the company. A pay stub can be verified by a company if asked for by the employee or the IRS. Pay stubs can be used to verify the status and pay history of individuals who have been issued tax forms.
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