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Under the de minimis deposit safe harbor rule, employers that accumulate less than $2,500 in payroll taxes during the current calendar quarter can pay those taxes with their Form 941, rather than deposit them. Final regulations allow quarterly filers to use the safe harbor rule if their accumulated taxes for the current or preceding quarter are less than $2,500.
Final medical loss ratio (MLR) regulations, which took effect Jan. 1, 2012, require group health insurers to spend between 80 and 85 cents of every premium dollar on medical care and health care quality improvement. Insurers that fall short must make rebates to participants, beginning Aug. 1, 2012.
This isn’t good news for employees named Chris, Pat or Robin. The Social Security Administration has announced that it has removed the verification of gender from its Social Security Number Verification Services (SSNVS).
Under the IRS’ Voluntary Classification Settlement Program (VCSP), you may change workers’ status from independent contractors to employees for future years. One major concern with VCSP has been potential liability for reclassified workers under the FLSA or state wage payment laws.
The standard mileage rate, which employers may use to reimburse employees who drive their own cars on business, remains 55.5 cents a mile for 2012. You can also use the standard mileage rate to value employees’ personal use of moderately priced company cars.
Messy co-workers can make you feel like you’re living in a college dorm. What do you do when others don’t clean up after themselves? You could turn cleaning up into a game. Two suggestions from Get-It-Done-Guy Stever Robbins:
Comp and benefits pros have three ways to make tax time easier on employees this spring. Work with your colleagues in payroll and accounting to publicize these conveniences—and protect workers from fraud.
Turlytag.com: Lessen the dread of lost baggage by signing up for this service. Boomerangit.com: Like TurlyTag, this service helps retrieve lost bags via labels. TripIt.com: Admins can keep track of everyone’s travel schedules by forwarding confirmation emails to firstname.lastname@example.org. Autoslash.com: It hunts down the best rental-car deal for your trip.
A working mom writes that she likes her job and feels lucky to have it. But, she says, “I feel chained to the job and out of the loop at home and everywhere ... Working part time is not an option. Any advice for finding a better balance?”
Do you find yourself watching time pass and still not beginning—let alone completing—what you say you want? Well, there’s no magic formula that allows others to succeed while you don’t. It all boils down to daily discipline.