Business will also pay 118K in wages, damages to 21 workers As long as employees’ pay and time records are complete and accurate, employers can pick and use their own timekeeping methods. But some employers are learning that if they fail to keep accurate records, the Dept. of Labor (DOL) may [...]
As if there weren’t already enough reasons to make sure workers are paid accurately, here’s another: Penalties are rising for violations of the Fair Labor Standards Act (FLSA) Repeated or willful violations of FLSA will now cost companies $1964, compared to $1,925 in 2017. Important details The new penalty amount applies [...]
If you’re not quite ready to distribute Form 1095-C to employees, you now have a bit more time, courtesy of the IRS. The agency’s just announced that it’s pushing back this year’s deadline for providing individuals with a copy of Form 1095-C. The new deadline is March 2, 2018. Easing burdens [...]
More year-end changes are coming your way: The IRS has released its standard mileage rates for 2018. After a couple years of decreases, standard business mileage rates are increasing this time around. Rundown of Changes For 2018, the standard mileage rate is 54.5 cents for each mile driven for business purposes – [...]
Is that really a federal agency contacting you? Watch out: Several scams are going around that target Payroll pros and the forms you use every day. And these scammers are more sophisticated than ever before, posing as federal officials and top execs in an attempt to steal confidential info. New I-9 scheme [...]
You may still be caught in the whirlwind of this holiday season, but it’s important to start looking ahead to next year’s holidays. Often holidays impact pay dates, tax deposits and other Payroll tasks. Dates to remember Be sure you make note of these IRS legal holidays (L) and Federal Reserve banking [...]
During a recent Payroll Industry Call, the IRS announced some of the benefits that’ll be excluded from employees’ taxable income in 2018. Here’s a heads-up on what you’ll need to know in Payroll next year. Transportation, FSAs & more Any company that gives workers qualified transportation fringe benefits, take note: Monthly limits [...]
Tracking late-in-the-game 2018 updates By now you’d like to have the 2018 changes set in your payroll system, but with a topsy-turvy year-end like this one, that’s not possible. First, in a highly unusual move, the SSA decided to revise next year’s Social Security taxable wage base. The new number is $128,400 [...]
What you need to know about forms for 2018 Year-end is fast approaching, which – as you well know – can make life pretty hectic for Payroll pros. To make a smooth transition into 2018, it’s crucial to stay current with upcoming deadlines for various returns. Important due dates In the [...]
Time to update your payroll systems: SSA has just released the taxable wage base for 2018. After one of the biggest increases in history in 2017, next year’s limit will only increase moderately by comparison, from $127,200 to $128,700. The tax rate for wages will remain the same: 6.2 for both employees and [...]
