Payroll Management

Ineffective payroll management and shoddy payroll systems can result in personal liability (including JAIL TIME) for non-compliance.

Business Management Daily helps our readers with information on payroll processing and tips on timesheets that will help you to implement payroll programs that pay off.

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By Feb. 1, employees must receive their W-2s, and the IRS must receive your fourth-quarter Form 941 and Forms 940 and 945 (a Feb. 1 postmark is OK, too). So let’s get cracking.
Use this worksheet to reconcile your four quarterly 941s and W-2s, so the amounts you report to the SSA and the IRS match.
The IRS has released the tax information employees need to more closely match their 2016 withholding to their 2016 income tax liability.
The opening of tax season is a bonanza for identity thieves. The IRS and state tax agencies are determined to cut down on so-called stolen identity refund fraud, or SIRF for short. You can catch this wave, too, and help employees guard their personal identifying information.
The IRS has released the 2016 Notice 1036, which contains the official 2016 withholding allowance amounts, the amount to add to nonresident alien employees’ wages for calculating their income tax withholding and the percentage method withholding tables.
Congress has enacted the Protecting Americans from Tax Hikes Act of 2015, or PATH Act, which is the tax extenders bill, and an omnibus spending bill. The PATH Act accelerates the filing date for both paper and electronic Forms W-2s and 1099-MISC to Jan. 31, beginning with forms filed in 2017. It also extended several key payroll ­provisions.
An employer that failed to prove it filed its Forms W-2/W-3 with the Social Security Administration was, nevertheless, not liable for a tax penalty for intentionally disregarding the filing requirement. This may be a comfort if you’re filing paper W-2s/W-3, which are due to the SSA by the end of the month.
The IRS has released guidance covering an assortment of issues under the Affordable Care Act, including how certain cafeteria plan flex contributions affect affordability, adjustments to the affordability safe harbors and penalty relief for failing to file correct Forms 1095-C/1094-C or 1095-B/1094-B.
Groundhogs scurry back home after they see their shadows. You have no such luxury. Paper W-2s are due to the Social Security Administration by the end of the month; e-filed forms are due by March 31. This checklist applies to e-filers who are using the SSA’s EFW2 filing specs.
The IRS is a prodigious publisher. Here are digests of two Legal Memoranda.
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