Payroll Legal Alert

The Affordable Care Act health care reform law requires you to provide all current and new employees with a notice regarding health insurance coverage by Oct. 1, 2013. For 2014, new hires must receive notice within 14 days of their start date. The DOL also updated its FAQs and the summary of benefits and coverage (SBC) template for the second year of coverage.

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NOTE: Saturdays, Sundays and legal holidays as observed in the District of Columbia are taken into account to determine due dates. Under the federal deposit rules, you’re allowed a deposit shortfall of the greater of $100 or 2% of your tax liability. Semiweekly and monthly deposits are for the deposits of FICA and withheld income [...]

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Q: Our employees are paid an annual lump-sum merit bonus. The full amount is calculated and then split, with half paid the following January and half paid in July. How does this affect employees’ overtime? If it does affect overtime, how many years must we go back?

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On Aug. 1, tax penalties more than triple, from $30 to $100 per form, up to $1.5 million, for these W-2 infractions: failing to file 2012 W-2s in the first place or filing incorrect 2012 W-2s that you haven’t yet corrected.

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Q: An employee who has a gas card gets reimbursed 100% every month from Accounts Payable. Is this a taxable benefit? If so, how much is taxable—the full amount or the portion related to personal use?

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The IRS has announced the 2014 inflation-adjusted figures for health savings accounts (HSAs) and high-deductible health plans (HDHPs).

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Summer is the perfect time to perform simple payroll maintenance tasks. Here are some items you can check off your to-do list.

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Payroll and Accounts Payable should talk early and often, say Billy Meyerkorth, payroll manager at  American Century Investments, and Jodi Parsons, payroll and accounts payable manager at Lifespace Communities. These two departments have more in common than they think.

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Group health insurers that don’t spend between 80 and 85 cents of every premium dollar on medical care and health care quality improvement must make medical loss ratio (MLR) rebates to employees. This year’s rebates are due by Aug. 1. Take these steps now to prepare.

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The DOL will shortly survey ­workers on their understanding of their status and whether they know that independent contractors aren’t eligible for overtime, benefits, etc. A crackdown on employers that misclassify workers is probably not very far behind.

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