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Learn MoreUnfortunately, many employees experience financial stress. So, more employers are stepping up to help by offering their workers emergency savings accounts funded by payroll deductions. As the COVID-19 pandemic continues, workers have had trouble saving money for a rainy day.…
Employers just received additional penalty relief for your federal employment tax deposits reduced in anticipation of COVID-19-related tax credits. And it comes straight from IRS. That includes both deposits of withheld income taxes and employment taxes. Under IRS Notice 2021-24,…
It’s sometimes necessary to change your pay cycle. In this situation, it’s key to proceed with caution. Along with any compliance and legal issues that may arise due to state prompt payment laws, you’ll have to address workers’ concerns about…
Under the American Rescue Plan Act, employers with 500 or fewer employees can receive payroll tax credits for paid time off they give their people to either get the COVID-19 vaccine or recover from it. Now IRS has clarified how…
Making payroll during the coronavirus pandemic has been challenging for many companies. And there’s good news: The IRS wants to reward your efforts by allowing you to take an employee retention credit on your taxes. The agency also just expanded…
Over the past few years, on-demand pay programs, which allow workers to access their wages at any time after they’ve been earned, have become more popular. Now, new guidance from the feds paves the way for employers to offer this…
Good news: IRS has offered guidance on what employees can do regarding fringe benefits that weren’t used due to the coronavirus pandemic. In short, the world shut down last year. Office commutes ceased, business travel plans were canceled, and in-person…
A big part of year-end prep includes getting ready for the next year, which means figuring out where legal and banking holidays fall in 2021. As you know, it’s critical for your finance team to start preparing for the new year’s…
The bag checks many companies require to prevent costly losses may actually cost you more in payroll, as the time spent doing them is probably compensable. Nowadays, more courts are saying that that time spent on the bag checks employees…
This year-end will be like no other for Payroll. Check out this update for Payroll year-end forms to keep your company in compliance. No matter what the form, there’s something new for 2020. So is Payroll ready for everything coming…
Going forward, you may need to change the way you pay some people, thanks to worker classification changes in the Golden State. You’ll recall that California’s AB 5, which took effect on Jan. 1, 2020, codified the three-part ABC test…
There’s good news for those who missed out on a loan from the Paycheck Protection Program (PPP) the first time around: The program has been extended for eligible businesses, with key updates designed to fix some of the initial kinks…
Resourceful Finance Pro, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.
