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…
Payroll
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…
Ensuring that employees don’t exceed the contribution limits for retirement plans may involve more steps than you realize. Each year, IRS announces the defined contribution plan limit for total employer and employee contributions. For 2021, IRS has the dollar amount…
Is Payroll ready? The W-2 filing process will have an entirely new look and feel this year-end, the Social Security Administration (SSA) recently explained. Speaking at the IRS October Payroll Industry Call, SSA’s Matthew Newton laid out the changes. SSA…
As companies try to recover from the effects of the pandemic, many want to bring on new hires – but that’s easier said than done. Over half of companies plan to add new workers in the second half of 2021,…
