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Payroll

IRS reps answer today’s pressing payroll questions

07/18/2015
Here are answers to questions put to representatives of the IRS who attended the American Payroll Association’s 33rd Annual Congress, held this year in Las Vegas.

New W-2, 1099 penalties for employers explained

07/17/2015
Q. I heard that there have been increases in the IRS penalties that employers have to pay for failing to file (or filing incorrect) tax documents?

Here’s your summer payroll checkup

07/17/2015
The thermometer heating up means it’s the perfect time to perform some general Payroll maintenance tasks. It’s also the key to a successful year-end.

What are the payday rules in Texas?

07/15/2015
Q. What payment and deduction requirements does the Texas Payday Law include?

What happens if we bounce a paycheck?

07/15/2015
Q. What are the penalties for failing to make timely payments or for issuing a paycheck that bounces under the Texas Payday Law?

After Obergefell, employers must ask: What to do about domestic-partner benefits?

07/14/2015
Domestic-partner benefits sprouted up in the 1990s because same-sex marriage wasn’t legal in most states. But following the Supreme Court’s landmark Obergefell v. Hodges decision last month, there are no more legal barriers to same-sex marriages nationwide …

Employer withheld child support equals $30 billion and counting

07/10/2015
The federal Office of Child Support Enforcement reports that during fiscal year 2013, the last year for which statistics are available, 74% of all child support payments were made via paycheck withholding. That’s $30 billion. The OCSE is beefing up its electronic income withholding orders, or eIWOs, in order to make the child support withholding process even more efficient.

Swindled payroll clients see a sliver of chance to recoup

07/07/2015
The IRS may have to return to a bankruptcy estate a bankrupt payroll service bureau’s tax deposits that were collected from clients but were used to satisfy its own tax liabilities. A federal trial court has ruled that the bankruptcy trustee may be able to void transfers of the clients’ money to the IRS.

401(k) plans get 3 new safe harbors

07/04/2015
If you have an auto-enrollment 401(k) or 403(b) plan, or a plan with escalation features, then you probably have administrative problems. Run-of-the-mill 401(k) plans aren’t a piece of cake to administer, either. The IRS has created three new safe harbors under which you don’t need to make corrective contributions for missed or incorrectly calculated employee pretax deferrals if certain conditions are met. The safe harbors became effective April 2, 2015.

The late bird doesn’t get the W-2 worm

07/03/2015
Procrastinators beware: Aug. 1 is rapidly approaching. That’s when penalties increase from $100 per form (up to $1,637,500) to $270 (up to $3,275,500) for W-2 missteps.