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.
In a unanimous decision, the U.S. Supreme Court on March 25 reversed the 6th Circuit Court of Appeals, ruling that an employer’s severance pay plans were FICA-taxable. As a result, the IRS isn’t on the hook to pay up to $1 billion in FICA refunds to various employers and their employees who were let go over the past several years.
State laws usually require that employees voluntarily participate in direct deposit or paycard programs. This chart summarizes the states’ direct deposit/paycard rules.
Being summer savvy means planning how to handle summer hires, their paperwork and their questions. Instead of seeing red, use this checklist to bring order to the summer hiring process.
Fast track settlement, which up until now has been available only to businesses with more than $10 million in assets, has made its way down the line to businesses in the IRS’ Small Business/Self-Employed division. That’s good news, considering penalties and interest continue to mount while your case remains open.
Most states allow employers to determine whether they will pay terminating employees for their accrued, unused vacation time. But be warned: Any ambiguity in your company’s vacation pay policy or how that policy is executed will most likely be resolved in employees’ favor.
April won’t fool smart Payroll managers. They know that the first-quarter Form 941 is due by month’s end. Here’s help.
Just how standard must a standard child support Income Withholding Order be? Very standard, according to the Office of Child Support Enforcement, which created it and mandates its use.
NOTE: 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.
Q: An exempt employee will be paid to photograph the company’s annual charitable 10K run. HR would like Accounts Payable to handle it through a separate check, so no taxes would come out of the payment. This doesn’t sound right to Payroll. Who’s right?
Q: If an exempt employee works for two hours one day, must we pay her for a full day, or can we require her to use her paid time off? What if she doesn’t come in at all for a day—must she still receive her full salary, or can we dock her pay for the day? We don’t allow employees to borrow PTO from the next year’s allotment.