The IRS has released some 2017 dollar amounts hat you’ll need for your payroll system. The maximum amount an employee can contribute to a flexible spending account is $2,600, up from $2,550 in 2016. The income exclusion for adoption assistance is $13,570, increasing from $13,460. Phase out starts when an employee’s adjusted gross income exceeds [...]
This year-end will be one of the most hectic The Social Security taxable wage base is about to make one of its biggest jumps – ever. Add to that the many other changes already piled on for this year-end, and you wonder how you’re going to keep your head above water. Here’s the latest: The [...]
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 [...]
Employees who worked at multiple job sites should have been paid OT Hours would have added up to over 40 in a workweek For the purposes of calculating overtime, the Dept. of Labor doesn’t care where employees work – just who they’re working for. And that can lead to a lot of confusion for multisite [...]
The Department of Labor (DOL) released its final regulations making drastic changes to overtime exemptions under the Fair Labor Standards Act (FLSA). These changes will present considerable challenges to any employer that has employees they pay as Salary. Here are some key elements of the new regulation that you need to know now: 1. Salary [...]
The comment period recently closed on proposed changes to Form I-9. The revised version is expected to be a "smart" form, meaning employers could complete the I-9 electronically, taking advantage of drop-down lists and onscreen instructions. Even though the form could be completed on a computer, it would still be printed, and the hard copy [...]
The pressure's on for final rule from the DOL Be on the lookout: The revised overtime regs may be finalized by May 16, 2016. Otherwise, they risk being overturned in 2017 when there's a new President and new Congress, the Congressional Research Service said in a recent reports. Agency rules issued toward the end of [...]
WASHINGTON — Aggressive and threatening phone calls by criminals impersonating IRS agents remain a major threat to taxpayers, but now the IRS is receiving new reports of scammers calling under the guise of verifying tax return information over the phone. The latest variation being seen in the last few weeks tries to play off the [...]
A common practice can cause payroll headaches Any day now, the Dept. of Labor is expected to publish a Request for Information on using electronic devices outside of scheduled work hours. In the meantime, a federal court has weighed in on the issue. The court said an employer didn't have to pay overtime to employees [...]
