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:
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.
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 ...
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: