Your employment tax returns may have been among the millions of unprocessed forms identified in a recent audit of IRS (yes, even IRS gets audited). Topping the list of unprocessed business tax returns? Form 941 and other forms in the…
Payroll
Early funds availability is causing headaches for many employers. And it's only the beginning. Certain banks let workers access their pay earlier than the settlement date when they receive ACH credits toward customers’ accounts. So, if payday is Thursday, these…
Just as the COVID-19 pandemic impacted many Finance processes, it also affected how Americans work. The latest American Time Use Survey from the Bureau of Labor Statistics (BLS) shows exactly how workers have spent their time over the past two…
UPDATE: Your company was just given two more months to submit and certify your EEO-1 reports. The Equal Employment Opportunity Commission (EEOC) has extended the deadline yet again. Reports for 2019 and 2020 are now due Monday, Oct. 25. The…
New child support orders will look a little different this fall for your Payroll pros. That’s because state and tribal agencies will be required to use the revised Income Withholding for Support (IWO) form. The IWO was revised last year.…
Your company can now exclude certain things from gross receipts when determining if you're eligible to claim the Employee Retention Credit (ERC). IRS Revenue Procedure 2021-33 spells out a new safe harbor for employers. Here’s the scoop. What will earn…
If your company needs to file an amended Form 941-X to claim any new tax credits or correct a quarterly return, heads up: The IRS has released a new draft version of the form. Here’s a preview of the most…
UPDATE: You’ve just been given more time to keep your coronavirus leave donation program running. IRS extended the allowance of donations of vacation, sick or personal leave through a leave-based donation program through the end of 2021 in IRS Notice…
Finance pros are already taking advantage of the new expanded window of time for Same Day ACH. And it can benefit your company, too. The third window, added in March 2021, allows same-day transactions to be initiated as late as 4:45…
There’s a new version of Form 941 for the second quarter of 2021 with some significant changes your Payroll pros will need to know about. The most recent version of the form was revised in June 2021. Most of the…
Lately, lawmakers have been focusing more on boosting participation in retirement plans. And many of their solutions involve your Payroll team. Legislators have already made several changes. More could be coming soon, according to a statement from the ERISA Industry…
Over the years, your Payroll team has quickly adjusted to an earlier filing deadline for Forms W-2. Because of that, the IRS may decide to change the deadline for submitting other key Finance forms. In a recent report, the Electronic…
