Looks like 2022 will be the year of new overtime rules ... again! At the very end of the year the Department of Labor (DOL) made its intention clear to update the salary level requirement of the section 13(a)(1) exemption…
Payroll
UPDATE: IRS has issued the final version of Publication 15-T for use in 2022. The publication contains information employers need to determine employees' federal income tax withholding, including tables and worksheets. Now that IRS has released a draft version of…
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…
Could either of these payroll errors be putting your company's compliance into question? Of course, your payroll staffers pride themselves on their accuracy. Their eagle eyes are likely one of the traits that made them just the right folks for…
Even though the Dept. of Labor (DOL) went through a significant transition period after the election, it still managed to keep up with its enforcement efforts for Fair Labor Standards Act (FLSA) violations in 2021. The Wage and Hour Division…
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…
With the deadline approaching for filing TY 2021 Forms W-2, IRS released revisions to the form and its instructions. That happened on Nov. 23, 2021. Shortly thereafter, during its December Payroll Industry Call, IRS shed more light on the changes.…
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…
UPDATE: The redesigned Form W-4P won't be available until 2022, IRS announced during its November Payroll Industry Call. Given the delay in implementation, you'll be able to use either the 2021 or 2022 version of the W-4P next year –…
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…
It’s time to look ahead to 2022 and see how legal and banking holidays will affect you and your team. That way, you can ensure you’ll have coverage for Payroll’s responsibilities, such as making tax deposits. Plus, if you’ll need…
Encouraging news to pass along to your Payroll team! There are fewer direct deposit holdouts than ever before. That news comes from the latest Getting Paid in America survey from the American Payroll Association. Almost 96% of those surveyed receive their…
