Payroll Legal Alert

Under final ACA regulations, open enrollment for the 2015 plan year begins Nov. 15, 2014, for small employers that buy group health plans through the federally run Small Business Health Options Program. State-based SHOPs can set their own open enrollment periods.

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The 2015 taxable wage base for the Social Security portion of FICA is $118,500, a 1.28% hike over the 2014 wage base. The 6.2% Social Security tax is payable by both employers and employees; in 2015, the maximum tax is $7,347.

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Holiday bonuses are a tradition at many companies. Employees usually receive their bonuses in December. But Payroll must begin planning for them now. Here’s what you need to know.

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Now is the time to make decisions regarding information reporting, since the first returns are due in 2016.

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How can you keep employees out on the road without busting the company’s travel budget? You can get more bang for your travel buck if you use the federal government’s per diem rates.

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Here’s a downloadable breakdown of health benefits and whether you must report them. The IRS has clarified that even if a benefit isn’t reportable, you may voluntarily do so.

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This time of year isn’t just about the Halloween treats. You can avoid a witch’s brew of nasty year-end tricks by having a plan. Here’s some help to get you started.

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Retirees can’t keep their 401(k) pretax contributions dammed up forever; eventually they must take taxable distributions. Two new sets of final regulations allow 401(k) plans to provide retirees with more options than just pulling out the cash.

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A recent survey of small businesses revealed that only 12% of employees were satisfied with their benefits packages. HR will surely take up the challenge by offering all sorts of new and revised benefits. That means you’ll be playing peekaboo with perks that should be taxed as wages.

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Employers’ stumbles over implementing paycard programs have received too much publicity and push-back from the federal and state governments recently. It doesn’t have to be that way.

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