After your team wraps up its current year-end responsibilities, make sure EEO-1 reporting gets placed near the top of its to-do list. Reason: The EEOC has announced the 2021 EEO-1 Component 1 report will be due May 17, 2022 — and the window for filing will be shorter than usual. Tentatively, the data collection will […]
Several natural disasters have translated into federal disaster tax relief for employers in seven states. IRS has pushed back both filing and payment deadlines. First, for businesses hit hard by Hurricane Ida last summer, the Taxman recently handed out an additional six weeks to meet federal tax deadlines. IRS announced that businesses in six states […]
With such a steady stream of IRS changes in TY 2021, it’d be easy for your Payroll team to miss something, under deadline pressure for distributing and filing Forms W-2. So, here’s a checklist you can pass along to help ensure your company has caught some of the most significant, recent developments. Before you send […]
IRS has released Publication 1494 for 2022. You may need the tables contained in the publication if IRS informs you of a levy on an employee’s wages. More specifically, the tables in Publication 1494 tell you how much of an employee’s take home pay is exempt from the levy. You calculate the exempt amount based […]
Looks like 2022 will be the year of new overtime rules … again! At the very end of the year the Department of Labor (DOL) made its intention clear to update the salary level requirement of the section 13(a)(1) exemption for executive, administrative, professional, outside sales and computer employees. The feds last overhauled the overtime […]
UPDATE: IRS has issued the final version of Publication 15-T for use in 2022. The publication contains information employers need to determine employees’ federal income tax withholding, including tables and worksheets. Now that IRS has released a draft version of Publication 15-T, you can make more progress on your payroll system updates for 2022. On […]
Now that IRS has released Form 940 for 2021, employers can begin preparing their federal unemployment tax returns. Employers have until Jan. 31, 2022 to file the form and deposit or pay any FUTA tax due. For 2021, there’s only one “credit reduction state,” according to the Form 940 instructions, which IRS posted on its […]
Could either of these payroll errors be putting your company’s compliance into question? Of course, your payroll staffers pride themselves on their accuracy. Their eagle eyes are likely one of the traits that made them just the right folks for the job. But they’re also only human, and mistakes happen. A recent survey by Paycom […]
Even though the Dept. of Labor (DOL) went through a significant transition period after the election, it still managed to keep up with its enforcement efforts for Fair Labor Standards Act (FLSA) violations in 2021. The Wage and Hour Division concluded 24,727 cases in FY 2021, with an average of just over 71 days to […]
