The highest inflation rate in over 40 years combined with a competitive job market may have your firm feeling pressure to increase wages for your employees. According to a U.S. Compensation Planning Survey from asset management firm Mercer, more than…
Payroll
Fair scheduling laws are the latest trend employers need to be aware of to stay compliant and avoid big payouts and expensive legal battles. In response to unpredictable schedules for workers in a variety of industries, including food service, retail…
Give your Payroll team the heads up: There's a new spear phishing scam email making the rounds that's attempting to steal their account credentials by trying to convince them to access a fake version of IRS e-Services. When cybercrooks steal…
Even as many offices across the country reopen, hybrid work has become the norm. There are more remote workers than ever before. Many employees are spending all or part of their workweek telecommuting. And it’s critical for Payroll to keep…
Give Payroll the heads up: There's a chance the unemployment tax rate could change. Here's why. States that had outstanding federal unemployment trust fund account loan balances as of Jan. 1, 2021, and Jan. 1, 2022, are at risk of…
An ongoing battle for your peers continues to be setting salary budgets and whether the cost of living or cost of labor should be considered in their compensation philosophy and strategy. When COVID lockdowns made remote work mandatory, firms –…
Beginning with the 2022 benefit plan year, there are some changes your Benefits people need to be aware of for filing Form 5500, Annual Return/Report of Employee Benefit Plan, and Form 5500–SF, Short Form Annual Return/Report of Small Employee Benefit…
Heads up: IRS has announced that interest rates will rise yet again in the third quarter of the year. The new rates are listed in Rev. Ruling 2022-11. Effective July 1, 2022, the new interest rates will be: 4% for…
If your company has been thinking about creating a leave donation program to help the victims of Russia's invasion of Ukraine, the IRS has just approved it. In Notice 2022-28, the IRS issued guidelines for employers wishing to adopt a…
Valuable tax credits from the IRS could be an untapped boost to your bottom line. With today's tight labor market, the Service reminded short-staffed organizations in a recent press release, about the Work Opportunity Tax Credit (WOTC). To take advantage…
Surging inflation is impacting the benefits you may offer employees in 2023, including health savings accounts (HSAs). In Rev. Procedure 2022-24, IRS adjusted next year's thresholds for HSAs and high-deductible health plans (HDHPs). And because the updated amounts are so…
Fringe benefits can be tricky when tax time comes around. Keeping complete records helps you avoid legal hassles. Here's a recent case where an employer's excellent recordkeeping and reporting kept it out of trouble with the Service. After United Airlines…
