What Happened? KeyBank recently filed a lawsuit against Interlogic Outsourcing, Inc., accusing the company and its owner and CEO, Najeeb Khan of "willfull breaches of fraudulent conduct." The accusations stem from a $122 Million wire transfer that was initiated by IOI, despite not having the funds to cover the transaction. The IOI payroll lawsuit has [...]
Independent Contractor or Employee? When classifying a worker as an independent contractor or employee, employers should consider the following factors: Does the company have the right to control what and how the worker does the job? Does the company control how the worker is paid or reimbursed? Are they paid hourly or a salary? Does [...]
What's Changed? In an effort to reduce costs, Wells Fargo has agreed to transition their payroll services clients to payroll and HR giants, ADP. The transition, which will begin May 24th, is scheduled to be completed by the beginning of the first quarter of 2020. The agreement means that Wells Fargo will slash over 200 [...]
Disappointing Tax Return? Tax season is over for now, and some tax payers may have been disappointed with the size of their tax refund, or worse, surprised that they still owed the IRS money. Changes to the tax code have reduced the effectiveness of the current W4 in helping calculate how much federal income tax [...]
Exempt Employees: Current Rule According to the Department of Labor, executive, professional, administrative, and computer employees can be considered exempt from minimum wage and overtime under the white collar exception. In order to be considered "Exempt", however, this employee must also earn a minimum of $455 per week ($23,660 per year) under. Commissions and bonuses [...]
How to Identify Phishing Emails The IRS has issued a warning about an increase in phishing email scams directed at payroll and HR personnel. The scams generally involve employee W2's, direct deposit information, or wire transfers. If successful, these scams can cost your company and your employees thousands of dollars. Here is a description of [...]
The IRS has issued a new W4 form for 2019. Changes to the tax code that were put into effect in early 2018 were expected to lead to major changes to the 2019 W4. After initial feedback, however, the IRS has decided to delay those changes until 2020. Although very similar to the 2018 W4, [...]