Magnetic Media Reporting - HR Glossary

HR Glossary - Magnetic Media Reporting - Hireforce
HR Glossary - Magnetic Media Reporting - Hireforce

Magnetic Media Reporting in the human resources business refers to the electronic transmission of employee salary and tax data to government authorities using magnetic media such as disks or tapes. This approach assures tax conformity and enables efficient data processing.

Example

Magnetic Media Reporting allows an HR department to electronically transmit annual W-2 forms to the tax authorities, showing employee earnings and tax withholdings.

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