Current News about Payroll Services
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 [...]
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 [...]
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 [...]
New Obama Overtime Rule Nullified by Court
On August 30, 2017, the same Texas court that in Nov 2016 postponed the implementation of the Obama administration's expansion of overtime formally nullified the implmentation of the new overtime rule. The court ruling stated that the previous administration overreached their authority when it significantly expanded the number of people covered by the rule. On [...]
IRS Warns of Scam
As per IRS Newsletter IR-2017-134 8/28/17 WASHINGTON – The Internal Revenue Service today warned people to avoid a new phishing scheme that impersonates the IRS and the FBI as part of a ransomware scam to take computer data hostage. The scam email uses the emblems of both the IRS and the Federal Bureau of Investigation. [...]
New Overtime Rule Under Review
The Department of Labor (DOL) has announced they are putting the new overtime rule implemented during the Obama administration under review by putting out a Request for Information to the business community. As most employers are aware, the Obama administration, through Executive Order, increased the salary level for non-exempt employees, (those employees subject to overtime) [...]
“Fair Workweek” Ordinances Begin To Go Into Effect
Employers need to pay attention as similar regulations pop up around the country. Payroll specialist are taking note as more cities, and possibly states, start to pass ordinances related to Fair Workweek laws. The purpose of these regulations is to set employee work schedule requirements, particularly for certain industries, and compensate employees for any adjustments [...]
House Votes to Allow Comp Time
On May 2, The House of Represenatives approved a bill allowing private sector Comp Time. The House passed H R 1180 the Working Families Flexibility Act of 2017 which would allow private-sector employers to provide non-exempt employees compensatory time off at a rate of 1.5 hours per hour of overtime work. To be eligible, employees [...]
401(k) Plans- the Good and the Bad!
According to the DOL, the #1 most common 401(k) plan violation is the failure of the trustee to remit employee 401(k) contributions in a timely manner. There are good and bad aspects to offering your employees a 401(k) plan. Like any successful business owner, you have worked hard to get your business to a place [...]
Time & Pay Introduces Employee Benefit Enrollment System
Time & Pay now offers our Employee Benefit Enrollment system. Partnering with EverythingBenefits, Time & Pay can provide a system integrated with our PayEntry that will allow employers to manage benefits and their employee enrollment in company benefit offerings. If you are tired of all the work involved in managing employee benefits, now is the time [...]