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Learn MoreTechnological setbacks can try anyone’s patience – whether it’s waiting for computers to boot up, software programs to load or upgrades to finish. Recently, questions about whether nonexempt employees must be paid for this type of waiting time have reached…
The cost of everything seems to be going up – and that includes penalties for violations of the Fair Labor Standards Act (FLSA). The Dept. of Labor (DOL) announced its latest penalty amounts in the Federal Register on Jan. 14,…
When the Dept. of Labor (DOL) announced plans to update the salary level requirements for who’s exempt from overtime, that caused concern for some businesses. In fact, 110 associations and other groups representing employers sent the DOL a letter. They…
By February 15 each year, any employees who’ve written “exempt” on their Form W-4 for the prior year need to give your Payroll team an updated form. But if IRS doesn’t agree with certain employees that they’re exempt from withholding,…
If you and your team have noticed issues with your correspondence with the Service lately, you aren’t alone. It’s been tricky to get in touch with IRS this past year, and some changes may be in the works to ease…
After your team wraps up its current year-end responsibilities, make sure EEO-1 reporting gets placed near the top of its to-do list. Reason: The EEOC has announced the 2021 EEO-1 Component 1 report will be due May 17, 2022 --…
Several natural disasters have translated into federal disaster tax relief for employers in seven states. IRS has pushed back both filing and payment deadlines. First, for businesses hit hard by Hurricane Ida last summer, the Taxman recently handed out an…
With such a steady stream of IRS changes in TY 2021, it’d be easy for your Payroll team to miss something, under deadline pressure for distributing and filing Forms W-2. So, here’s a checklist you can pass along to help…
IRS has released Publication 1494 for 2022. You may need the tables contained in the publication if IRS informs you of a levy on an employee’s wages. More specifically, the tables in Publication 1494 tell you how much of an…
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…
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…
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.
