New DOL guidelines for regular rate: What Payroll must know Update to procedures for what to exclude Right on the heels of the new overtime threshold comes news that the Dept. of Labor (DOL) is updating the regs in the Fair Labor Standards Act that control the regular rage of pay --- for the first [...]
IRS: Latest info on when free meals provided to employees are taxable New Memo answers common questions about on-site food The IRS just released some helpful guidance on a confusing scenario: whether to count free meals given to employees as taxable income. According to a new Technical Advice Memorandum (TAM), meals provided by employers are [...]
1 mistake when calculating workers’ OT meant employer owed $1.7M Company didn’t include piecework in calculation Even companies that try to do everything right can make big, expensive errors when calculating workers’ regular rate of pay. After a Dept. Of Labor (DOL) investigation, a North Dakota company serving the oil and gas industry must pay [...]
DOL releases new overtime threshold: Key info for payroll Ready to jump from $23,660 to 35,305 per year? Finally! After several delays, the Dept. of Labor (DOL) has announced a proposed OT threshold. In a new Notice of Proposed Rulemaking, the DOL set an updated standard salary level to determine who must be paid overtime. [...]
Electronic child support payments: Rules for states that require them Keys for compliance with withholding orders More and more states are requiring employers to electronically send child support payments. Right now, according to the Office of Child Support Enforcement 16 states have this rule in place. Requirements to meet: Here’s a rundown of which type [...]
Company ‘banked’ hours to pay at later date, now owes $104K in OT Paid workers for additional time at their regular rates Sometimes, if work comes in waves, a company may want to help workers out by allowing them to “bank” extra hours in a workweek, applying them to a future pay period when work [...]
New legislation may raise federal minimum wage If the latest bill introduced in Congress is any indication, soon the federal minimum wage could increase for the first time in almost a decade. The proposed bill would raise minimum wage to $15 per hour. Growing trend Under the Raise the Wage Act, the minimum wage would [...]
Finished your W-2s? Be on the lookout for these issues later SSA scrutiny leading to corrected forms in 2019 Now that the ink’s almost dried on Forms W-2, it’s time for Payroll pros to get ready for any issues that could arise at the last minute and in the coming months. Here’s what you should [...]
It’s 1.5 times regular pay now, but countdown will soon begin In Massachusetts, retail employers are saying a slow goodbye to overtime pay for Sunday and holiday work. Here’s what you need to know, with the following changes occurring on January 1: 2019 – 1.4 times regular pay 2020 – 1.3 times regular pay 2021 [...]
Profit-sharing plans: Company owes back wages for ignoring the rules Keys to Making sure programs hold up to federal scrutiny Profit-sharing plans are an excellent way to keep employees invested in a company’s success. But compliance issues can be costly for employers. One Indiana lawn care company learned this firsthand. Precision Cut Lawn Service gave [...]
