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…
Payroll
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…
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.…
