Overview: Employees can update their address directly from the Buddy Punch website to ensure payroll records, tax withholdings, and year-end forms remain accurate.
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Why It Matters
Informing employers about an address change is essential for several reasons:
Tax Withholding: Your tax obligations can vary depending on your location. Informing your employer about your move ensures that they withhold the correct amount of taxes from your paycheck according to the tax laws of your new jurisdiction.
Payroll Processing: Changes in your location may impact other aspects of payroll processing, such as state or local wage laws, benefit eligibility, and payroll scheduling. By keeping your employer informed, they can make the necessary adjustments to ensure accurate and timely payments.
Direct Deposit and Banking: If you use direct deposit for your paycheck, you may need to update your banking information to reflect your new account or financial institution. Informing your employer allows them to update their records accordingly to avoid payment disruptions.
Important! Immediately inform your employer about your change of address. This can generally be accomplished by submitting a formal written request or by requesting that your employer restart your onboarding process.
Update Other Relevant Entities
Besides your employer and tax agencies, consider other organizations or entities that may need your updated address, such as:
Banks or financial institutions where you hold accounts.
Insurance companies providing health, life, or other types of insurance coverage.
Credit card companies or lenders. Subscription services, utilities, and other service providers.
How to Update Addresses
There are two options available for updating an employee's address. Administrators can access the employee's Payroll Profile by navigating to Payroll --> People --> Click View for the relevant employee and select one of the following two methods:
Restart Onboarding: This choice prompts employees to log in to their Payroll Profile. From there, they can make any necessary changes to their information. Here are the steps the employee will take once the onboarding has been initiated.
Edit: This option is exclusive to administrators. They can click "edit" and modify the details on behalf of the employee.
FAQs
Q: What if I have already filed my taxes with my old address?
A: If you've already filed your taxes but have since moved, you should still update your address with the IRS and any relevant state tax authorities. Use Form 8822 or other available methods to ensure that future correspondence and documents are sent to your current address.
Q: Will changing my address affect my tax return or refund?
A: Changing your address should not affect your tax return or refund directly. However, it's crucial to ensure that the IRS and other tax agencies have your current address to avoid any delays or issues with receiving important tax documents or correspondence.