Payroll Legal Alert

Use this worksheet to reconcile your four quarterly 941s and W-2s, so the amounts you report to the SSA and the IRS match.

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You have an extra weekend to ensure that employees’ W-2s are correct. Since Jan. 31 is a Saturday, employees must receive their W-2s by Monday, Feb. 2, 2015. The IRS must receive your fourth-quarter Form 941, and annual Forms 940, 944 and 945 by that date, too. Here’s what you need to do now.

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Under final tax regulations, employees who aren’t traveling away from home overnight, but who stay overnight at a local hotel, may have their substantiated lodging expenses reimbursed as a tax-free working condition fringe benefit, provided you have a bona fide reason to require them to stay overnight at the hotel.

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So-called excepted benefits—limited-scope dental and vision benefits—are exempt from the Affordable Care Act’s requirements to provide affordable group coverage that provides minimum value. Final ACA regulations modify those benefits, and add long-term care benefits and certain employee assistance plans into the excepted benefits category.

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This is your monthly guide to critical payroll due dates.

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It’s officially Payroll crunch time. The Social Security Administration is cracking down on employers that submit W-2/W-3 forms with errors … but you already have everything organized and ready to go, right?

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Q: A terminating employee is requesting an early W-2. He’s also requesting that Payroll provide him with written verification that he hit the 2014 Social Security taxable wage base, even though his W-2 clearly shows this in Box 3. He insists that he doesn’t need to restart paying Social Security taxes with his new employer, since he maxed out for 2014. Is he correct?

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The Department of Labor (DOL) is closing out the year with a bang. It’s issued final regulations increasing the minimum wage to $10.10 an hour for employees who work on new or renewed federal contracts and has postponed enforcement action on its final regulations governing home care ­workers.

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States have their own W-2 e-filing thresholds and specifications. This chart summarizes those requirements.

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If you’re shopping around for group health benefits on the SHOP, don’t forget to factor in the value of the small business health care credit when evaluating the cost of a group policy.

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