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.
Use Forms W-2c/W-3c to correct errors in your 2014 W-2s. The earlier you fix errors, the less likely it is you’ll be penalized by the IRS. Although e-filers have until the end of this month to file original W-2s (paper forms were due March 2), even those few weeks may not be enough to get off the W-2c hook, if errors are discovered after filing.
When an employee needs a new W2, make sure to print out and use this to ensure the process is documented.
The U.S. Supreme Court has agreed to hear King v. Burwell, which is an appeal from the 4th Circuit regarding whether the Affordable Care Act’s premium tax credits are available to all eligible individuals, regardless of whether they purchase health insurance through a state or federal exchange.
The U.S. Supreme Court has ruled unanimously that the time employees spent waiting at the end of the day to undergo security checks, and the time they spent undergoing those checks, wasn’t compensable working time under the Portal-to-Portal Act. The time, the Court said, wasn’t integral and indispensable to the performance of employees’ jobs.
You can avoid those last-minute W-2 blues if your W-2 e-files are formatted correctly. This checklist applies to e-filers who are using the Social Security Administration’s EFW2 filing specs.
W-2s are chock full of information every identity thief needs: Social Security numbers and Employer Identification Numbers, neither of which you can truncate, plus employees’ and employers’ names and addresses. This should give you pause, now that employees have their 2014 W-2s in hand, and you’re making final preparations to file those forms with the Social Security Administration.
This is your monthly guide to critical payroll due dates.
The first time the IRS allowed employees to pay for their qualified mass transit benefits (up to $130 a month for 2015) through smartcards, debit cards, etc., in 2006, most municipalities’ computer systems couldn’t handle the load. Now that those computer systems are up to speed, the IRS has reissued its 2006 ruling and brought it up to date.
Yes, you read that correctly. Delaware is attempting to collect $1,388,573.97 from a Tennessee company that failed to escheat one $147 unclaimed paycheck to it. The company is asking a federal court to throw out the results of Delaware’s unclaimed property audit, and with it, that whopping bill.
Despite the steep drop in gas prices at the pump, the IRS’ standard mileage rate, which you may use to reimburse employees who drive their own cars on business, increases to 57.5¢ a mile for 2015, from 56¢ a mile.