Payroll

Payroll and Accounts Payable: Essential friends and allies

06/20/2013

Payroll and Accounts Payable should talk early and often, say Billy Meyerkorth, payroll manager at American Century Investments, and Jodi Parsons, payroll and accounts payable manager at Lifespace Communities. These two departments have more in common than they think.

Prepare now for the next round of MLR rebates

06/19/2013

Group health insurers that don’t spend between 80 and 85 cents of every premium dollar on medical care and health care quality improvement must make medical loss ratio (MLR) rebates to employees. This year’s rebates are due by Aug. 1. Take these steps now to prepare.

IRS details its response to the budget sequester

06/14/2013

The automatic budget cuts that took effect on March 1, known as the sequester, will require the IRS to furlough all employees without pay and completely close its doors on July 5, July 22 and Aug. 30, with two possible additional furlough days to be announced in August or September.

HEXs and SHOPs: Welcome to the new world of health benefits

06/13/2013

Under the Affordable Care Act, open enrollment for the individual health exchanges, or HEXs, begins Oct. 1, 2013. The outlook for the Small Business Health Options Program, or SHOPs, through which small employers may buy health insurance is a bit more complicated. Here’s where things stand.

How should we calculate withholding on executive bonuses?

06/13/2013

Question: What are the tax guidelines for executive bonuses payments? I need to calculate the withholding on them manually.

IRS issues more guidance, FAQs on VCSP

06/11/2013

Under the IRS’ Voluntary Classification Settlement Program, you can voluntarily reclassify independent contractors as employees for future tax periods on favorable tax terms: you’ll be liable for just over 10% of the wages paid to those reclassified workers for the past year and no penalties or interest will be due. Recently updated FAQs shed more light on this program.

Payroll takes a star turn in the Lone Star State

06/09/2013

Anita Bartels, senior program analyst for employment tax policy at the IRS, spoke about the IRS’ latest initiatives to attendees at the American Payroll Association’s 31st Annual Congress, held this year in Grapevine, Texas.

After tech ‘buyout’ what are our FICA/FUTA obligations?

06/08/2013

Q: We purchased some technology from another company and the deal included the transfer of some employees. Since we didn’t buy the entire company, can Payroll carry over their FICA and FUTA wages?

New pay on the way: Update on New York wage-and-hour law

06/07/2013

Get ready, New York employers. New developments will affect how and how much you pay your employees. The state minimum wage will soon increase and the NYSDOL has proposed new regulations on wage deductions.

L.I. diner owners face prison after serving up a side of fraud