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.

It seems counterintuitive, but you can use your consent to extend the statute of limitations on payroll tax assessments as leverage with auditors. But only if the proper party signs Form SS-10, Consent to Extend the Time to Assess Employment Taxes. The IRS has concluded in emailed advice that a single-member LLC owner is the correct party to sign.
If you have employees away on extended military deployments or who will train for two weeks this summer as members of the National Guard or Reserve, you face tricky pay problems. Here’s what Payroll needs to know.
Not ­getting your tax notices forwarded to your new address can be a deadly oversight. To separate out notifications from individuals and businesses, the IRS has created new Form 8822-B.
Payroll procedures for handling bonuses are affected by the FLSA. While such bonuses can increase morale, provide incentive to work harder, and entice strong applicants to join a company, improper treatment of employee bonuses can lead to FLSA violations. 

Nowadays, IRS auditors ask for your electronic accounting records. But software files often contain data beyond the audit years, and software programs routinely create metadata for every data file created. So how do you keep the IRS from snooping around the personal and confidential business informations contained in those files?

The Fair Labor Standards Act doesn’t require you to provide employees with meal breaks. It does require you to pay employees whose meal breaks last for fewer than 30 minutes and those who work through their meal breaks. However, 40 states do have laws covering meal and rest breaks. This chart summarizes those laws.

$3,400: That’s how much the tax gap—the difference between what’s owed and what’s paid—costs every single taxpayer in extra taxes. And the figure is only growing. Proposals to close the tax gap were raised at a recent congressional hearing.

The FLSA restricts the docking of employees' pay. Many times employers' decisions on docking will push an employee from an exempt classification to a nonexempt, or push an employee whose pay has been docked into court.
Few eligible small employers are claiming the health care tax credit, despite the IRS’ numerous public relations efforts, according to the Treasury Inspector General for Tax Administration. Among the reasons given for the low take-up rate: It took too long and it was too hard to claim the credit.
The IRS has been busy adding to its regulatory agenda. Here’s the latest news from the regulations front.