The higher overtime salary threshold that kicks in on July 1 will affect a million-plus salaried exempt employees. And it's good news for many folks -- inflation is taking a bigger bite out of everyone's paycheck and companies are scaling…
Payroll
Ever-growing postage rates are driving companies to digitize as much as possible. A record-high rate hike set for July 14 is going to impact companies that rely on the mail to do business. The U.S. Postal Service (USPS) announced it…
Believe it or not, more than 80% of workers like their employers' Paid Time Off (PTO) packages. But that doesn't stop a surprising percentage of workers from abusing it. Thirty-seven percent of Millennials (workers in their late 20s, 30s and…
IRS gave an update on several initiatives that have been in the works longer than expected. The Service’s latest goals are contained in the second quarter update to the 2023-2024 Priority Guidance Plan, released March 18, 2024. Here are a…
Not all companies handle payroll records the same way. Firms may keep data in multiple systems -- payroll, HR, timekeeping and the general ledger. There's no one-size-fits-all rule for everyone. Same goes for ditching payroll records that aren't required by…
The Department of Labor (DOL) has released its final overtime rule, bringing mid-year changes and a higher-than-expected salary level increase. It'll happen in two phases. First, by July 1, 2024, executive, administrative and professional employees will need to earn at…
Looks like AI won't be taking the place of all those vacant jobs after all. CEOs at bigger companies -- some who laid off a lot of people over the last eight months -- are chomping at the bit to…
The metropolitan areas where employers and employees want to settle are in flux this decade. COVID-19 accelerated the flexible on-site work routine for millions of people. And as companies insisted their people come back into the office, a company's location…
After several years of volunteer work, three individuals filed a lawsuit under the Fair Labor Standards Act (FLSA), saying they should have received paychecks. They'd been given benefits such as discounted golf for volunteering. But in their lawsuit, they claimed…
IRS recently made changes to Form 941. For one thing, a Spanish version of the federal tax form is now available starting with the first quarter of 2024. On February 28, 2024, IRS released final versions of the 941, Schedule…
Whether payroll professionals use the most current Excel in Microsoft 365 or an earlier version, they'll never find enough time to use all of the functions and shortcuts available to them. Even expert users of Excel will stumble upon a…
Before we get too far into the new year, double-check that all changes to state income tax rates and laws have been caught. Better for Payroll to uncover glitches as early as possible to avoid withholding and reporting headaches, especially…
