Final regulations implement the Taxpayer First Act by requiring you to e-file all your information returns—your W-2s, 1099s, 1095s, and other information returns—if...
The IRS and the National Taxpayer Advocate have been going at each other hammer and tongs over the mountains of paper forms the agency still processes. The NTA, for...
Direct deposit is a closed loop. You send the payroll file to your bank a few days before payday and your bank sends files through the ACH network to employees’ banks....
While some scammers and phishers are using the U.S. mail for their own nefarious purposes, the main avenues for tax scams remain email and text messaging—these methods...
Mail scams may be making a comeback, but the quickest, easiest, and most efficient way for a scammer or phisher to steal employees’ identities is to hack into your...
While dealing with lots of paperwork doesn’t rank as most HR professionals’ favorite task, proper recordkeeping for employee personnel files is a must for any...
Are you eager to launch a startup or new business? Or were you recently promoted to a financial role in your organization? Either way, you’ll need to master the basics...
Direct deposit works through the Automated Clearing House (ACH) network—you instruct your bank to prepare a payroll file and it disburses employees’ pay...
While fortunately a rare circumstance, dealing with payroll for a recently deceased employee can be tricky. What pay is taxable? What do you do with their final...
The NBA finals started last week—the Denver Nuggets vs. the Miami Heat. Basketball is our second favorite sport, mostly because you don’t need to know all the rules...
How well do you get along with your spouse or ex? Or boss? Or the company’s president? It’s not an idle question. The Supreme Court has settled the question of...
You can’t code an employee’s pay and deductions properly without an employee pay profile, said Jonathan Stone, managing director of KPMG LLP. Stone shared his...
Back in the dim mists of antiquity, when most people watched broadcast TV, our favorite part of Mission: Impossible was at the end, when the good guys peeled off their...
Recordkeeping is a core part of any human resources department, and it also happens to be one of the most confusing and complex. Why is that? It has to do with the...
The Department of Labor may soon release proposed regulations raising the salary employees must earn to remain exempt from the Fair Labor Standards Act.
The current...
Constructive receipt is a tax timing rule requiring you to withhold taxes when employees’ pay is set aside for them to access without restriction, regardless of when...
When Silicon Valley Bank in California and the Signature Bank in New York failed last week, employers with accounts at those banks began to fret they wouldn’t be able...
Congress routinely showers small businesses with tax preferences. And now is the time to think about them, since the tax-filing deadlines for calendar-year corporate...
We’ve been waiting for the IRS to release final regulations on mandatory e-filing of information returns for quite some time. Once it missed this year’s W-2/1099-NEC...
Back in 2020, the Department of Labor released a Field Assistance Bulletin to its investigators, which concluded that an employee who worked in the office, ran errands...
