IRS and Justice Dept Announce Payroll Tax Crackdown

The IRS and the Justice Dept announced plans to step up their crackdown on employers that do not send withheld payroll taxes to the federal government as required. Officials emphasized that there would be no special exception if employers use the funds to keep the doors of the business open. Employers withhold those funds on [...]

By | May 27th, 2015|News|Comments Off on IRS and Justice Dept Announce Payroll Tax Crackdown

Labor Dept Submits New OT Regulations

The Labor Dept recently announced that they have submitted their newly proposed overtime regulations for salaried employees to the Office of Management and Budget. As you may recall, in March of 2014,  President Obama issued an Executive Order the intent of which is to significantly change the payroll requirements of salaried employees as it relates to overtime. [...]

By | May 20th, 2015|News|Comments Off on Labor Dept Submits New OT Regulations

Treasury Dept. Considers Reduced Threshold for W-2 E-Filing

The Government Accountability Office has recommended that the required threshold for electronic filing of W-2's be reduced to between 5 and 10 forms per year. The current threshold is 250 forms. All businesses filing 250 W-2's or more must file them electronically, unless granted a waiver by the IRS. There are two main advantages to [...]

By | May 4th, 2015|News|Comments Off on Treasury Dept. Considers Reduced Threshold for W-2 E-Filing