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Payroll

No picnic for Payroll: Defining wages for the 20% deduction

10/18/2018
The 20% deduction for qualified business income is limited for taxpayers with income above certain thresholds. One factor on which this limitation is based is the W-2 wages paid to employees of taxpayers’ pass-through entities.

DOL’s PAID program renewed through March

10/18/2018
Buoyed by news of record recoveries of wage underpayments in the last year, the U.S. Department of Labor has announced it will continue its pilot Payroll Audit Independent Determination program—known as PAID—for another six months.

Minimum wage for federal contractors goes up in 2019

10/10/2018
Effective Jan. 1, 2019, employers performing work on federal contracts must pay workers $10.60 per hour.

What rules apply for paying an employee who has passed away?

10/03/2018
Q. If a worker dies, could we still have to pay his or her wages earned before the time of his or her death?

What are the rules for paying an employee who cannot be located?

10/03/2018
Q. One of our workers has gone missing. Could we still have to pay him for the time he worked before he disappeared?

Cheaper retirement plans are just around the corner

09/24/2018
Final regulations issued by the Department of Labor, which became effective Sept. 30, 2019, allow employers to band together to offer association 401(k) plans, technically called “multiple-employer retirement plans.”

ACA affordability safe harbors set for 2020 plan year

09/24/2018
For the 2020 plan year, group health plans are affordable if employees’ monthly premiums don’t exceed 9.78% of your chosen safe harbor.

Special analysis: Hot job market + cool fringes = Payroll headaches

09/24/2018
The unemployment rate hasn’t been this low in more than 50 years. So HR is tasked with coming up with fringe benefits that will incentivize new hires to sign on and entice current employees to stay. Too bad they didn’t consult you first.

SSA reinstates employer no-match letters

09/24/2018
The Social Security Administration is again sending no-match letters, called Educational Correspondence Announcements, to employers that file W-2s on which employees’ names and Social Security numbers don’t match its records. Warning: W-2s with these mismatches may also garner penalties from the IRS.

Accurate pay statements: your responsibility

08/27/2018
It is the employer’s responsibility to ensure employees receive accurate wage statements with each paycheck. That’s true even if the employee hasn’t provided an accurate accounting of time worked.