With the flurry of W-2 changes Payroll encountered in 2020, year-end could be tough-going. And the last thing any CFO wants is a costly compliance misstep. But there’s help. This checklist of 2020 W-2 changes will help your team ensure compliance. A checklist of W-2 changes for Payroll 1. The IRS revised the W-2 instructions […]
Opinion letters from agencies like the Dept. of Labor (DOL) provide employers with helpful guidance for compliance. But beware, they aren’t the be-all and end-all for following wage and hour law. Relying too heavily on opinion letters can be a mistake that costs companies big bucks. One employer learned this lesson the hard way after a […]
UPDATE: You’ve just been given more time to keep your coronavirus leave donation program running. IRS extended the allowance of donations of vacation, sick or personal leave through a leave-based donation program through the end of 2021 in IRS Notice 2021-42. If your company wants to set up a program to let employees donate leave […]
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 […]
UPDATE: Your company was just given two more months to submit and certify your EEO-1 reports. The Equal Employment Opportunity Commission (EEOC) has extended the deadline yet again. Reports for 2019 and 2020 are now due Monday, Oct. 25. The EEOC says this will be the final extension. Employers, you must now submit your EEO-1 […]
Your company can now exclude certain things from gross receipts when determining if you’re eligible to claim the Employee Retention Credit (ERC). IRS Revenue Procedure 2021-33 spells out a new safe harbor for employers. Here’s the scoop. What will earn you the safe harbor In order to determine whether you’re an eligible employer for a […]
COVID-19 changed the way many workplaces – and many Payroll and Finance pros – operate. And while most offices are slowly starting to return to normal, some changes may impact the nature of work going forward. Which developments are likely here to stay? At the 2021 American Payroll Association (APA) Virtual Congress Xstream, a panel […]
Any company can be vulnerable to pay errors, no matter how careful your payroll staffers are. And if those errors make an employee’s pay late, you can bet that won’t go over well.
It’s sometimes necessary to change your pay cycle. In this situation, it’s key to proceed with caution. Along with any compliance and legal issues that may arise due to state prompt payment laws, you’ll have to address workers’ concerns about their checks. One company’s pay cycle change upset workers so much that it was challenged […]
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 […]
Late last month the feds extended the deadline for remote I-9 checking until Aug. 31, 2021. That gives your company an additional three months to keep reviewing this critical employment documentation remotely. This is the ninth extension granted. You’ll remember that back in March 2020, ICE cleared remote I-9 checking because so many employers had […]
The Biden administration has just extended this student loan relief through at least Sept. 30, 2021. Make sure Payroll hasn’t been garnishing employee wages to repay federal student loans in the first month of the new year. There’s been another extension for student loan relief due to the COVID-19 pandemic. Any garnishment orders to pay […]
Is Payroll ready? The W-2 filing process will have an entirely new look and feel this year-end, the Social Security Administration (SSA) recently explained. Speaking at the IRS October Payroll Industry Call, SSA’s Matthew Newton laid out the changes. SSA has been focused on IT modernization, including wage reporting features offered through Business Services Online […]
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