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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You must backup withhold on payments made to independent contractors if they don’t certify their Taxpayer Identification Numbers to you prior to payment. Contractors may make those certifications by providing you with Form W-9, which you must keep for three years. Caution: You may want to retain these forms for longer than three years. Here's why:

The 0.2% “temporary” FUTA surtax, which has been in effect since 1976, expired at the end of June. So far, Congress hasn’t introduced legislation to extend it. But if the surtax is re-enacted retroactively?

Most states have laws that require employers to provide workers with regular statements about their compensation. To help you prevent pay-stub violations, this downloadable PDF chart cites the pay-statement laws for all states that have such laws. Plus, it explains whether pay stubs can be provided to employees electronically ...

Question: My company provides group-term life insurance with a value of more than $50,000 to some retirees. I know I have to report the uncollected employee FICA taxes on their W-2s in Box 12 with Codes M and N. Do we have to pay the employer share of these taxes? If so, when are they due? Also, how are the amounts reported on Form 941?

Remember Wal-Mart's $640 million wage-and-hour mistake? That was all because of the federal Fair Labor Standards Act (FLSA). The FLSA seems straightforward, but small compliance errors can add up to big penalties. Here are the basics you need to know to stay out of court:

Before any employee begins telecommuting, there are payroll issues you need to resolve: keeping time for nonexempts, how and when to pay, and reimbursement for business expenses.
If you mail a tax-related document on the date it’s due, you’ll be considered to have timely filed it, according to the tax code’s timely-mailing-is-timely-filing rule. The same is true if the document isn’t delivered because the post office mangled it during processing.
Q. Are there specific rules on when I must pay my employees?
Q. We pay most of our employees’ wages and salaries via direct deposit. Last week, two checks for the same pay period were deposited into an employee’s account. Can we legally have the bank withdraw the extra funds from the employee’s account?
Q: An employee has taken a second job with our company on a part-time basis. Would our reimbursement of his travel expenses from his first job to our workplace be a tax-free reimbursement, or a taxable commuting expense?
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