Get access to hundreds of financial resources as an RFP INSIDER
Learn MoreThe Treasury Department would like to see federal legislation that’d clarify the tax treatment of on-demand pay arrangements. The agency spelled out its proposal in the so-called Green Book, released on the same day as President Biden’s FY 2023 budget.…
Auto enrollment in retirement plans would be required under new legislation. The Securing a Strong Retirement Act of 2022 passed the House on March 29, 2022. The Senate has the legislation now. As currently written, HR 2954 allows employees to…
Heads up: You may need to update certain Forms I-9 by July 31, 2022. Specifically, some employees at your company may have presented expired List B acceptable documents. The dates in question? Between May 1, 2020, and April 30, 2022.…
In recent guidance, the Dept. of Labor (DOL) spelled out how attendance policies can cross the line into Family and Medical Leave Act (FMLA) violations. Specifically, Field Assistance Bulletin 2022-2 discussed no-fault attendance policies. With such policies, employers don’t distinguish…
The use of digital currency has grown dramatically in recent years, with some businesses already making payments to employees in cryptocurrency. But Finance should use caution. For starters, the Fair Labor Standards Act (FLSA) regs state that wages must be…
Employers waited for IRS to release final regs reducing the electronic filing threshold from 250 to 10 returns for TY 2021. But that never happened. No regs. No explanations. Now, in the recently released 2022 W-2 and 1099 instructions, IRS…
Your Payroll team may need to give employees an amended W-2 for tax years 2020 and/or 2021 depending on what you reported in box 14. Remember, wages paid for Families First Coronavirus Response Act (FFCRA) and American Rescue Plan Act…
New research proves just how critical it is for your company to keep moving toward electronic payments via ACH – and how expensive it is to keep cutting paper checks. Data from the 2022 Payments Benchmarking Survey, released by the…
New Bureau of Labor Statistics (BLS) data reveals the changes businesses made in the middle of the coronavirus pandemic. The BLS released the 2021 U.S. Business Response Survey to the Coronavirus Pandemic at the beginning of this year. The survey…
Paying overtime can be costly -- and depending on your timekeeping policies, it can be an expense that catches you off guard. A February 2022 court case provides an example. The issue in the case was whether supervisors at one…
IRS’ backlog of paper returns to be processed has increased since the COVID-19 pandemic began. Meanwhile, taxpayers have continued to receive automated notices, sometimes for unclear reasons. Now, IRS says it has temporarily stopped issuing some notices. For example, the…
Here we go again! IRS has set the wheels in motion for revisions of Form 941 and its instructions – plus, the Schedule B instructions. Make sure Payroll has the updated info for filing employment tax returns for the first…
Resourceful Finance Pro, part of the Rover Insights Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.
