Payroll Today

Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 30 years. She’s written and edited several leading payroll publications, including Business Management Daily’s Payroll Legal Alert, the Research Institute of America’s Payroll Guide, Prentice Hall’s American Payroll Association’s Basic Guide to Payroll and the Payroll Manager’s Letter. She’s also the editor of Business Management Daily’s Payroll Compliance Handbook and The Complete FLSA Compliance Kit.

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In the hustle and bustle of preparing your paper and electronic W-2s for the Social Security Administration and for delivery to employees, it’s easy to let state filing deadlines slip through the cracks. Here’s the most recent news on state W-2 filing deadlines …

Nope, we’re not referring to the looming consolidated, accelerated W-2/1099-MISC filing deadline of Jan. 31, 2017, although that’s bad enough. While you were making merry last month, the Congressional Budget Office was busy pinpointing areas of the Internal Revenue Code that could be squeezed to close the budget gap.

Some, but not all of your Forms 1099-MISC, must be provided to payees and filed with the IRS by Jan. 31, 2017—28 days from now. Your goal: to file all of your 1099-MISC forms accurately the first time. Here are some last minute tips you might find useful.

An end-of-year memo from Payroll

by on December 21, 2016 2:58pm
in Payroll Today

For Payroll, next month will put meaning to the phrase “stupid busy.” So, to avoid the annual onslaught of questions from employees about their W-2s, you should prepare a memo for them and stuff it in with their next pay statement. Here’s a template you can use …

The IRS and its partners in state tax agencies report that they’re doing a better job of stopping stolen identity refund fraud, or SIRF. Last tax season, for example, individuals reporting stolen identities on federal tax returns fell by more than 50%. For the coming tax season, the IRS and state tax agencies are taking even more aggressive steps to combat SIRF.

Congress has passed and President Obama is expected to sign the 21st Century Cures Act, which exempts health reimbursement accounts (HRAs) set up by small employers—those with fewer than 50 full-time employees—from the Affordable Care Act’s market reform provisions.

A couple of months ago, we reported that New Jersey Gov. Chris Christie had notified Pennsylvania that he was scrapping the 40-year-old income tax withholding reciprocity agreement between the two states, primarily because he needed to close a $250 million budget shortfall without raising taxes. Never mind …

A federal court’s decision last week to temporarily slam the brakes on regulations overhauling the salary threshold for overtime pay left many employers scratching their heads. Many had already implemented changes to comply with the new salary threshold—which rose to $913 per week, up from $455—by Dec. 1.

On Nov. 22, 2016, a federal trial court in Texas granted a nationwide preliminary injunction, which prevents the Department of Labor’s (DOL) salary-level regulations from going into effect on Dec. 1, 2016. The court ruled that the DOL exceeded its authority in issuing those regulations. Twenty-one states and numerous business groups sued the DOL earlier this fall to stop the regulations from going into effect. (State of Nevada v. U.S. Dep’t of Labor, No. 4:16-CV-00731-ALM, D.C. E. Tex., 2016)

Christmas comes early to Payroll

by on November 22, 2016 11:40am
in Payroll Today

You have one less critical year-end task to worry about. The IRS announced on Nov. 18 that it’s pushing back to March 2, 2017, the deadline for you to provide employees with their copies of Form 1095-C or Form 1095-B.

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