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Payroll Legal Alert
The IRS wants agents who file their clients’ Forms 941 to please color within the lines on Schedule R, Allocation Schedule for Aggregate Form 941 Filers.
For plan years beginning Sept. 23, 2011, unless the U.S. Department of Health and Human Services grants a waiver, group health plans that impose annual or lifetime limits on the dollar value of essential benefits are restricted to imposing an annual limit of $1.25 million.
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With pressure on wages still tight, employers are whipping up new employee perks almost every day. The problem, of course, is that no one consults Payroll before the big rollout to employees. That’s a mistake, since perks are taxable, unless the tax code says they’re not.
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The IRS has yet to release the 2012 percentage method and wage-bracket withholding tables. It did, however, release the 2012 inflation-adjusted withholding allowance amounts and the amounts employees can defer from their pay for qualified transportation fringe benefits. Also unsettled is the Social Security tax rate for 2012.
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Most states have regulations regarding the timing of when employers have to pay employees when a termination occurs. Often, there is a difference in that timing when it involves an employee who quits versus an employee who is fired by the employer.
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Under the Affordable Care Act health care reform law, employers will pay a penalty if just one employee enrolls in coverage through the individual exchange and receives a premium tax credit and his or her contribution isn’t affordable because it exceeds 9.5% of his or her household income. Problem: You usually don’t know employees’ household income. To remedy this, the IRS is proposing an employer affordability safe harbor.
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Question: A rehired employee will soon be receiving his first paycheck. He had a child support withholding order when he terminated. Should I withhold for that order or wait for a new order?
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Question: If an employee provides an I-9 document that’s subject to photo matching in E-Verify, can an employer ask or require the employee to provide a copy of the document to use during the E-Verify process?
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Beginning March 23, 2012, all group health plans—including grandfathered plans, self-insured plans and plans not covered by ERISA—must provide employees and beneficiaries with a simple explanation of their benefits and a uniform glossary covering basic health insurance and medical terms.
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Question: Our company will soon begin outsourcing the payroll to a new third-party provider. It has a feature that allows employees to view their check stubs and W-2s by logging onto its website. We were told that the company will be saving a bundle because employees can now access their W-2s online. Does the IRS allow this?
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