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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Along with the proposed regulations on the 0.9% additional Medicare tax, the IRS has updated and supplemented its questions and answers regarding this new tax. The latest FAQs stress that the additional tax applies per employee.
The Affordable Care Act health care reform law requires you to provide current employees and new hires with a notice regarding health insurance coverage, beginning March 1.
The aftermath of the Great Recession may very well be read in an increase in the number of tax levies on wages, as employees scrimped on their taxes to pay for other things. The IRS isn’t sympathetic, and that’s bad news for already overworked Payroll departments.
Employees must receive a guaranteed salary of $455 a week and perform exempt duties to be exempt from the Fair Labor Standards Act’s minimum wage and overtime provisions. But that doesn’t mean you can never dock their pay.
If you need to delete a file that was sent by mistake, the Social Security Administration doesn’t want to hear from you anymore. Instead, you can delete any file prior to processing through the SSA’s Submission Status app.
Under the IRS’ recently issued proposed regulations, beginning this year, many employees will pay an additional 0.9% in Medicare taxes, for a total tax rate of 2.35%. Reminder: Employers don’t match this additional tax.
Mark your calendar. By Jan. 31, employees must have their W-2s, and the IRS must have the fourth-quarter 941 form, and annual 940, 944 and 945 forms. Here’s what you must do now.
In the wake of Hurricane Sandy, the IRS has issued a package of payroll, 401(k) and individual tax relief measures. This relief applies to individuals and businesses located in the disaster area, and to those whose tax records are located in the disaster area.
The IRS has named the states that will be subject to FUTA credit reductions for 2012 FUTA taxes. FUTA credit reductions arise when states borrow from the federal government to pay regular unemployment benefits and fail to timely repay the loans.
Question: Three retirees receive monthly pension checks. Two have stopped cashing them and the post office keeps returning the other retiree’s check as undeliverable. We’ve searched the obituaries and looked in our old HR files for their next of kin, but we’ve come up empty. We have to provide Forms 1099-R to them by the end of this month. What do we do?
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