The Department of Labor (DOL) has ramped up enforcement of various laws, such as the new Families First Coronavirus Response Act (FFCRA). New on the scene: coronarvirus act audits. Several employers have already been tripped up by FFCRA and what it requires, and the DOL has fined them for noncompliance. That’s the warning to come […]
Tell your finance staff to be wary. IRS is zeroing in on 1099 and 1042-S compliance, meaning it’s now even more vital for them to get information returns correct.
These are some tricky times when it comes to withholding, thanks to the new tables and new W-4. Which is likely why IRS issued new guidance on how your team should handle lock-in letters. The letters spell out the withholding arrangement that IRS selected to correct an under-withholding issue for a specific employee. The Q&A-style guidance walks […]
A new Department of Labor (DOL) final rule has eliminated some exceptions to the fluctuating workweek pay method. That gives your company some new flexibility and potentially some new savings. In the past, that overtime compensation option wasn’t available for salaried non-exempt employees who earned bonuses and other types of incentive-based pay. No more, thanks […]
The Social Security Administration (SSA) just issued the taxable wage base for 2020. And it’s higher than what was predicted back in the spring. The magic number Payroll needs? $137,700, up from the $132,900 taxable wage base in 2019. As the most hectic time of the year in Finance approaches, you’ll want to make sure […]
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