Current News about Payroll Services

Time & Pay Implements New Withholding Tax Rates

Time & Pay Implements 2018 Payroll Withholding Tax Rates? On Dec 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act that will, as determined by the Tax Policy Center, cut income taxes for 143 million Americans. The law went into effect January 1, 2018. On Jan 11, 2018 the IRS released the new tax tables [...]

By | January 19th, 2018|News|Comments Off on Time & Pay Implements New Withholding Tax Rates

OSHA 300 Needs to be Posted by Feb 1

The Occupational Safety and Health Administration (OSHA) mandates that all employers with more than 10 employees—except those in exempt low-risk industries—must maintain a record of work-related injuries and illnesses. Those who are required to maintain these records use OSHA’s Form 300- Log of Work-Related Injuries and Illnesses,  or an equivalent or state-specific form. A summary [...]

By | January 19th, 2018|News|Comments Off on OSHA 300 Needs to be Posted by Feb 1

Tax Cuts and Jobs Act and Payroll

Tax Cuts and Jobs Act - What Does It Mean for Your Payroll? On Dec 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act that will, as determined by the Tax Policy Center, cut income taxes for 143 million Americans. The law goes into effect January 1, 2018. This new tax law will obviously effect [...]

By | December 26th, 2017|News|Comments Off on Tax Cuts and Jobs Act and Payroll

“New Economy” Makes Child Support More Difficult to Collect

The “new economy”, in which the use of contract labor to meet work load requirements is increasing every day, is making it more difficult to collect court ordered child support. When employers hire a new employee, Federal and State new hire reporting requirements help ensure that an individual who may be under a court ordered [...]

By | December 5th, 2017|News|Comments Off on “New Economy” Makes Child Support More Difficult to Collect

Time & Pay Hires Knoxville Account Executive

Time & Pay is pleased to announce that it has hired an account executive for the greater Knoxville area.  VP Andy Scheu notes, "Laura Adams is a great addition to our firm.  As you will read below, the knowledge that Laura gained from her previous work experiences will ensure that she is able to help [...]

By | November 1st, 2017|News|Comments Off on Time & Pay Hires Knoxville Account Executive

IRS Announces 2018 Pension Plan Adjustments*

WASHINGTON — The Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans, including 401(k)'s, and other retirement-related items for tax year 2018. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,000 to $18,500. The catch-up [...]

By | October 31st, 2017|News|Comments Off on IRS Announces 2018 Pension Plan Adjustments*

Are You Getting All You Need to Help You Better Manage Your Payroll and Your Employees?

Let Time & Pay help you with all your payroll details. Time & Pay has the tools you need to better manage your payroll and your employees.  While we work at making sure our customers are aware of all we offer, we have learned that you need a friendly reminder every once in a [...]

By | October 24th, 2017|News|Comments Off on Are You Getting All You Need to Help You Better Manage Your Payroll and Your Employees?

Payroll News Briefs

Payroll News You Can Use: Social Security Dept Announces 2018 Taxable Wage Base The Social Security Dept announced that the taxable wage base for 2018 will be $128,700. This is an increase of $1,500 over last year's wage base of $127,200. The wage base is the amount of wages an employee must earn before their Social Security [...]

By | October 17th, 2017|News|Comments Off on Payroll News Briefs

Federal “Ban-The-Box” Bill Considered in Senate

A federal "Ban-the-Box" bill was granted a favorable review by the Senate Committee on Homeland Security and Governmental Affairs and sent on to the Senate for further consideration. "Ban-the-Box"  refers to not taking into account the criminal history of individuals in determing their qualification for employment. By prohibiting federal agencies and prime federal contractors from [...]

By | October 3rd, 2017|News|Comments Off on Federal “Ban-The-Box” Bill Considered in Senate

Federal Contract Minimum Wage to Increase

The Labor Department’s Wage and Hour Division announced that the minimum wage rate for workers performing work on or in connection with Federal contracts covered will increase to $10.35 per hour beginning January 1, 2018. Also to go into effect on that date will be the required minimum wage that must be paid to tipped [...]

By | September 18th, 2017|News|Comments Off on Federal Contract Minimum Wage to Increase