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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States have their own W-2 e-filing thresholds and specifications. Here’s a chart summarizing those requirements. Note: Some states didn’t release their W-2 e-filing information before this article was published. To get full details, contact your state tax department.

More employers are pushing their workers to receive pay via debit cards. But not all employees want to be paid that way—and the law is often on their side.
Question: Door prizes at our wellness fair included gift cards. We know that employees who receive gift cards are taxed on those amounts, but what about spouses—are gift cards taxable to employees and reportable on their W-2s if their spouses win prizes?
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.
Don’t forget to turn your clocks back one hour, to standard time, at 2 a.m., Sunday, Nov. 3.
Uncle Sam has released new cost-of-living adjustments affecting Social Security tax withholding and retirement plans for 2014.
Many Payroll departments get hit with the double whammy of having to prepare Forms 1099-MISC for the company’s independent contractors, in addition to employees’ W-2s. Reminder: If you file 250 or more 1099-MISC forms you must file them electronically through the IRS’ FIRE system.

Fail to deposit your payroll taxes on time and the IRS can go after anyone in the company it considers to be a responsible person. The IRS recently lost its bid to hold an office manager responsible after a federal trial court ruled that whether she was a responsible person was a matter for a jury to decide.

Under new IRS and DOL guidance, legally married same-sex couples are entitled to all federal spousal tax and ERISA benefits, even if they live in states that don’t recognize same-sex marriage.
There’s no need to be spooked by year-end Payroll duties. Here’s help with this month’s to-do list.
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