Low-dollar-amount errors that appear on Form W-2 won’t lead to penalties. That’s the official word contained in final regulations from IRS. The law that prompted the IRS regs? The Protecting Americans from Tax Hikes (PATH) Act of 2015. Thanks to…
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The 2017 Tax Cuts & Jobs Act featured a major change to how companies can write off expenses. The change went into effect in July 2022, but a lot of companies apparently didn't get the heads up from their accountants…
The big January 31 filing deadline for Form 1099-NEC is almost here! Organizations must not only put Form 1099-NEC into the hands of payees by that date, the IRS needs its copies of the returns by Jan. 31 as well.…
Insider trading is morally wrong and illegal. People go to jail for it. The risks to one's reputation and freedom outweigh the money that can be made. The risks are a lot lower if you're a member of Congress though.…
Companies seeking accountants to replace or reinforce their workforces will continue to find themselves stuck between a rock and a hard place. The human reinforcements aren't coming in sufficient numbers. Fact: The number of candidates sitting for the certified public…
States are always looking for ways to attract new businesses and prevent existing ones from pulling up stakes. Lowering corporate taxes is one way to do it. So is reducing income taxes for workers. 2024 will see a bevy of…
Brainstorming can be a great way to generate lots of potential solutions for a specific problem. And there’s no better group to brainstorm with than your own staffers who handle finance, accounting, benefits and payroll issues all the time. To…
Federal agencies issue hundreds, if not thousands, of regulations that businesses and customers could easily do without. There are exceptions, however: Like the data breach disclosure rule that went into effect this past fall. The U.S. Securities and Exchange Commission…
Don't be surprised if employees are smiling a bit more after their first paychecks of 2024 come in. Many workers will see a bump in their take-home pay as a result of revised IRS tax brackets. The Service raised limits…
Upwards of 10 million workers will see a bump in their paychecks in 2024. Twenty-two states hiked their minimum wage rates to help low-income employees make ends meet. The most generous state is Hawaii. The Aloha State is increasing its…
Tight lending limits by the banks and high interest rates will continue putting a financial strain on companies in 2024. Customers will look to extend their credit limits with their suppliers and vendors to stay competitive. The majority of credit…
The emergence of A/P automation software in recent years has been the catalyst of significant transformation of the accounts payable function at many companies. With workdays less consumed by mundane, manual data entry and processing of paper invoices, finance team…
