After your team wraps up its current year-end responsibilities, make sure EEO-1 reporting gets placed near the top of its to-do list. Reason: The EEOC has announced the 2021 EEO-1 Component 1 report will be due May 17, 2022 --…
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Several natural disasters have translated into federal disaster tax relief for employers in seven states. IRS has pushed back both filing and payment deadlines. First, for businesses hit hard by Hurricane Ida last summer, the Taxman recently handed out an…
A happier biz traveler is often a more compliant biz traveler! This new ranking of airline performance can help. If you’re looking to help your company’s road warriors have a smoother experience on the road, try telling them which airlines…
An audit can be stressful and costly, especially if problems surface. One construction and carpentry company recently found that out firsthand, when an audit revealed a fringe benefits shortfall. In Raines v. Builders Alliance Inc., under the terms of a…
Now that IRS has released Form 940 for 2021, employers can begin preparing their federal unemployment tax returns. Employers have until Jan. 31, 2022 to file the form and deposit or pay any FUTA tax due. For 2021, there’s only…
Interest rates will remain the same for the first quarter of 2022 as they were in the last quarter of 2021, IRS recently announced. That means, as of Jan. 1, 2022, the rates remain: 2% for corporate overpayments0.5% for the…
In November, the employee retention credit (ERC) ended suddenly and retroactively. As a result, employers that'd already reduced their employment tax deposits or received advance payments of the credit for the fourth quarter of 2021 faced uncertainty. Although the American…
Your team has just received more than an extra month to get one critical year-end return into employees’ hands. IRS just announced proposed regulations to grant an automatic extension for employee copies of Forms 1095-B and 1095-C. Those forms would…
Termination pay is riddled with potential problems, as a recent federal district court case shows. In Garcia v. Wal-Mart, an employee clocked in for work and a few minutes later was called into a meeting with his supervisor where he…
Has your department tapped Same Day ACH payments yet? This feature's popularity has grown quickly. Both transaction volume and value have spiked in the third quarter of 2021 versus the same period a year ago. So says the latest data…
Employers can no longer claim a tax credit on Form 941 for keeping workers on the payroll. In fact, a new law has discontinued the employee retention credit (ERC) retroactively. The Infrastructure Investment and Jobs Act, signed by President Biden…
The early bird gets fewer B-Notices! IRS has shared critical test and usage dates for its FIRE system for information returns. To make year-end as smooth as possible and avoid any unpleasant surprises down the road, you'll want to file…
