How much can workers contribute before it’s taxable? The IRS recently released additional guidance on limits for employers’ defined contribution plans in certain confusing situations. Here’s what Payroll needs to know. Short limitation years In most cases, the 2018 Sec 415 ( c) dollar limit for contributions to all of a [...]
Companies often give workers items with their logos on them as gifts, never even considering whether they’re taxable income. In many cases they are, according to a presentation at the 2018 American Payroll Association (APA) Congress. Cost isn’t the issue While some say items like logo T-shirts fall under the IRS’ de [...]
Handling new hires, employees claiming ‘exempt’ With 2018 already underway, and last year’s Form W-4 still in use, Payroll pros need clear-cut answers from the IRS about how to handle new hires and employees who claim they’re exempt from withholding. So it’s a relief that the IRS has issued Notice 2018-14, [...]
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 [...]
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 [...]
If you aren’t already using E-Verify, which gives you an electronic way to make sure folds really are allowed to work in the country, you might want to get familiar with it now. E-Verify may become mandatory for all employers within the next 12 months. That’s according to Worksite Compliance Services President David [...]
As organizations look to provide perks that will attract and retain key talent, many are coming to realize that offering pet-friendly benefits—whether that means take-your-dog-to-work days, pet insurance or animal-related volunteer excursions—can be an effective tool for improving recruitment, morale and even wellness. “Dogs have become a bigger part of everyone’s life, especially as [...]
Effective January 1, 2017, the minimum wage will be $11.00 The minimum wage law applies to all employees except those being rehabilitated or trained in charitable, educational, or religious institutions; members of religious orders; agricultural, floricultural and horticultural workers; those in professional service; and outside salespersons not reporting to or visiting their office daily. For [...]
Changes include earlier deadline for W-2, Copy A This year-end, you have more to do and less time to do it in. As you review this checklist of key Payroll deadlines, take note of which ones are new and which ones will hit you earlier than ever before: As of Dec. 1 2016, your company [...]
When the IRS releases Form 941 for 2017, you’ll notice a couple extra lines. That’s because the IRS is creating a new tax credit for 2017 – and the agency recently released a new draft of the form. The new credit is set to go on Line 11 as “Qualified small business payroll tax [...]
