Your finance team always has to keep an eye out for fraud and tax scams – especially those impersonating IRS and other trusted authorities. Fortunately, the Service recently released its annual list of “Dirty Dozen” tax scams to help educate…
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Though online portals are intended to simplify invoice and payment processes, they may actually be spurring problems that impact your A/R and A/P teams. Especially during the recent pandemic, many companies used these tools to ensure that orders and payments…
The Department of Labor’s (DOL's) proposed fiduciary rule replacement has arrived. The rule replaces the Obama-era fiduciary rule vacated in 2018. Its aim: to help employees get better investment advice about their retirement plans. The new rule will likely include…
Despite all the warnings your finance staff hears about email scams, it’s all too easy for them to forget those warnings during a busy workday. They’re cutting checks, answering customer queries, opening emails ... and all of a sudden, a…
Did your company pay employees emergency sick or medical leave wages under the Families First Coronavirus Response Act (FFCRA)? You have new guidance for reporting coronavirus leave on W-2s. IRS just issued Notice 2020-54 detailing how employers must report those…
To avoid costly interest and penalties, filing unclaimed property accurately and timely is now even more important for companies. In a recent case, the New York Supreme Court essentially said companies are automatically liable for interest on any unclaimed property they have in the…
Employees often use corporate cards for travel and other business expenses, but does your finance team know the true cost of this payment method? For many companies, there’s a bit of uncertainty surrounding corporate cards, according to a survey from…
Finance teams can expect the slew of local sales tax rate increases that have occurred recently to keep pace for the rest of 2020. In the first five months of the year, your team faced 150 city sales tax rate…
Just halfway through 2020, IRS has already pushed out the limits for high deductible health plans (HDHPs) and health savings accounts (HSAs) for 2021. And we can tell you that you’ll be able to let employees sock away some extra…
A recent scam proves why it’s critical for your company to track products and purchases – especially essential ones – during these hectic times. At one company, a vengeful ex-employee hacked into his former employer's system using a fake user…
Update 3: The feds recently announced they will delay collecting this job info until March 2021, due to the coronavirus. Note: This only impacts the 2019 EEO-1 reporting requirement, which includes employee demographics from any pay period from October through…
Let your Payroll and A/P teams know that there’s new guidance from IRS on handling qualified transportation fringe benefits. An advice memorandum from the Office of Chief Counsel looked closely at a company that decided to reimburse an employee in…
