Among the many provisions of the Secure 2.0 Act, several deal with the paperwork responsibilities that fall on retirement plans. The Secure 2.0 Act, which became law on December 29, 2022, amends some sections of the Employee Retirement Income Security…
Payroll
In March and April, some of your peers will receive CP2100/CP2100A notices from IRS that will require them to mail out B notices notifying vendors and contractors that they need to update their Form W-9, or else payments will be…
Earned wage access, also known as on-demand pay, is being leveraged by your peers as a key recruitment and retention tool for workers who may be strapped for cash right now because of the high prices of gas, energy bills…
High inflation continues to impact businesses. One of the latest examples? Costlier penalties for breaking workplace laws. Several federal agencies released final rules, announcing increased amounts for 2023. Here's a brief rundown of five of the workplace laws included in…
Avoid penalties: Electronic workplace posters belong in the ‘break room,’ not the ‘custodial closet’
It'll cost more in 2023 if you don't display the required workplace posters. To complicate matters, electronic postings may be allowed, or even required. Back before the rise of remote and hybrid workforces, the Department of Labor (DOL) released guidance…
The Census Bureau requires businesses to complete the Economic Census to report on years ending in 2 and 7. With that in mind, watch out for this deadline: March 15, 2023. The survey is one way to measure the economy…
In 2022 about a dozen states put law changes - some at the constitutional level - directly into the hands of the voters on Election Day. Here are some of the major measures that passed that may require you to…
As Finance pros know, self-insured group health plans may be more cost-effective than fully insured plans – more financially risky, too. Whether you already sponsor such a plan or are weighing pros and cons, you should know IRS has released…
The Financial Accounting Standards Board (FASB) is requiring public companies to disclose expense details involving employee compensation, depreciation of "property, plant and equipment," amortization of intangible assets, and costs capitalized to inventory in their income statements. While it may make…
Paying employees by direct deposit is convenient for all involved. But a recent court case is a reminder that funds could end up in cybercrooks' bank accounts. Cybercriminals will seek out any point of weakness. So, continually safeguarding systems and…
The Secure 2.0 Act became law just before the close of 2022, as part of the federal spending bill. Roll up your sleeves – the list of new retirement plan requirements and opportunities for businesses is lengthy. That's not surprising…
It's not too late to get tax relief in the form of the Employee Retention Credit that was created as part of the CARES Act in 2020, then retroactively improved and extended by additional legislation. The credit can still be…
