Payroll Matters. (a) Seller and Buyer shall adopt the “alternative procedure” for preparing and filing IRS Forms W-2 (Wage and Tax Statements), as described in Revenue Procedure 2004-53. Under this procedure Buyer as the successor employer shall provide all required Forms W-2 to all U.S. Transferred Employees reflecting all wages paid and Taxes withheld by Seller as the predecessor and Buyer as the successor employer for the entire year during which the Closing Date shall take place. Seller shall provide all required Forms W-2 to all other U.S. Business Employees who are not Transferred Employees reflecting all wages and taxes paid and withheld by Seller before and after the Closing Date.
Appears in 4 contracts
Samples: Asset and Stock Purchase Agreement, Asset and Stock Purchase Agreement, Asset and Stock Purchase Agreement (Smith a O Corp)
