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 [...]
Workforce snapshot now in fourth quarter Sure, you don’t have to start working on the EEO-1 Report right now – because the deadline has been bumped back – but that, and other recent changes to the report, aren’t necessarily good news. Typically, the EEO-1 is due by September 30 each year. So you [...]
Lack of Clarity Led Company into expensive legal waters Even when you’re trying to be generous to employees, it still pays to double-check all of your pay policies say exactly what you want them to. This is especially true when it comes to paid leave policies and their interplay with the Family and [...]
Several clauses designed to protect consumers More updates are coming to the Consumer Financial Protection Bureau’s (CFPB) prepaid rule that’ll govern the use of payroll cards. The rule creates provisions to protect employees in case pay chards are lost or stolen. It also puts procedures in place to correct and guarantees free access [...]
Regulatory action allows for truncated SSNs A significant change is coming to W-2s that’ll impact how you prepare forms for employees. The IRS just issued a proposed rule that allows for the use of truncated Social Security Numbers (SSN) on employees’ copies of Forms W-2s. Currently, you can use truncated taxpayer identification [...]
Feds said employer violated equal pay act It can pay to double-check employees’ salaries to make sure men and women who do, in large part, the same jobs are paid equally. After all, if you’re not regularly looking at existing employee’s salaries, it can be easy to pay someone a salary that violates [...]
DOL’s $47,476 salary threshold too high The 2016 overtime rule has been stopped in its tracks by a federal judge. That means Payroll no longer has to worry about a sudden, sharp increase in the number of employees needing to be paid time-and-a-half. If you already had this number memorized -- $47,476 – [...]
Preventing identity theft with new data safeguards Cybersecurity and identity theft are key concerns of the IRS, as evidenced by the latest edition of the Electronic Tax Administration Advisory Committee’s (ETAAC) annual report to Congress. This year, as part of its identity theft prevention strategy, ETAAC announced several new security initiatives that’ll [...]
