After President Biden issued an executive order saying all federal departments and agencies would be closed on Jan. 9, 2025, employers wondered if the date would have the same impact as a federal holiday. Would banks be open -- or…
Payroll
Beware of auto pilot when issuing expense reimbursement checks to employees. Some, or all, of the money may technically be wages instead. Says who? The DOL. New guidance from the agency sheds light on a common scenario businesses face: Employees…
When Congress passed the Tax Cuts and Jobs Act (TCJA) of 2017, the expiration date for some of the provisions seemed far off. Now, the date is imminent. Problem is, it's unclear if the provisions will end when originally planned…
The DOL has begun to roll out its Retirement Savings Lost and Found. It'll be populated with information from plan sponsors and administrators. The Secure 2.0 Act required the DOL to get the database up and running by the end…
A federal district court overturned the overtime rule that would have raised the minimum salary level for exempt employees on January 1, 2025. What’s more, an increase that already took effect on July 1, 2024, has been vacated. So, the…
When a natural disaster hits, you'll be focused on ensuring your people and property are safe. Details like tax deadlines may not be top of mind. So, if there's any uncertainty about how much time you have to make deposits…
The IRS has updated its specs for e-filing Form 1099. If you're using any independent contractors, you'll need this info as you head into year-end. This latest round of updates was contained in Publication 1220. The publication contains pertinent details…
IRS announced new per diem rates for business travel, effective October 1, 2024. Employers can use these rates through September 30, 2025. Notice 2024-68 contained the IRS per diem rates, which you can use to substantiate the amount of expenses…
A recent court case is a reminder to confirm that you're using an IRS-designated private delivery service. Otherwise, your mailing may be late. And even one day late is still late. One company had to deal with the fallout from…
It's time for updates: Higher federal per diem rates for business travel have been released by the General Services Administration (GSA). The rates cover business travel occurring between October 1, 2024, and September 30, 2025. These per diem rates can…
A limited-time use of educational assistance programs is scheduled to expire soon. IRS recently provided details about this fringe benefit. As explained in IR-2024-227, an employer may make payments of up to $5,250 per year toward an employee’s student loans…
To prevent tax levies, employees may enter into voluntary agreements with IRS to repay what’s owed. That means Payroll may end up withholding from their wages. The form that an employee would fill out – Form 2159, Payroll Deduction Agreement…
