Current News about Payroll Services

IRS Issues Incorrect Penalty Notices

The IRS is currently taking some heat for issuing incorrect penalty notices to thousands of employers and their payroll processors. The notices were sent after the IRS did not accurately take into account two federal tax holidays and the resulting change in payroll tax deposit requirements. Federal holidays that occur during the work week change [...]

By | September 12th, 2016|News|Comments Off on IRS Issues Incorrect Penalty Notices

Labor Department Settles DOL Lawsuit

The Federal Labor Department recently agreed to pay $7 million to settle a 2006 unpaid overtime complaint by its own DOL employees. Represented by their union, the American Federation of Government Employees, Dept employees claimed that the DOL did not pay employees for off-the-clock work for a period between 2003 and 2006. Union lawyers also [...]

By | September 9th, 2016|News|Comments Off on Labor Department Settles DOL Lawsuit

Time & Pay Celebrates National Payroll Week!

Time & Pay is pleased to announce the celebration of National Payroll Week Sept 5-9, 2016.  Organized by the American Payroll Association in conjunction with Labor Day, National Payroll Week is a nationwide public awareness campaign that pays tribute to the more than 156 million people who work in the United States, the businesses that [...]

By | August 30th, 2016|News|Comments Off on Time & Pay Celebrates National Payroll Week!

IRS Warns of Phishing Virus

As per IRS bulletin IR-2016-103,  The Internal Revenue Service recently alerted tax professionals of a phishing email virus that pretends to be from tax software providers and directs recipients to click on a bogus link. This email scheme is just one in a series of attempts by e-cons to use the IRS or other tax or related [...]

By | August 19th, 2016|News|Comments Off on IRS Warns of Phishing Virus

Labor Dept. Announces New Labor-Law Poster Required

The Labor Dept. recently announced alterations to Federal Labor Laws. Thus employers will be required to post a new version of the Labor-Law Poster for employee review. As a Payroll Advi$or subscriber, you know that you are required to keep up with and post all current versions of the required Federal and State Labor-Law Posters [...]

By | August 16th, 2016|News|Comments Off on Labor Dept. Announces New Labor-Law Poster Required

2016 and the Affordable Care Act (ACA)

For now, the Affordable Care Act (ACA) is here to stay and the reporting deadline in January 2017 is quickly approaching. Hopefully you are keeping up with ACA requirements for 2016 as there are significant changes. While the IRS granted employers with 50 to 99 full-time employees some relief for 2015, one of the changes [...]

By | August 5th, 2016|News|Comments Off on 2016 and the Affordable Care Act (ACA)

IRS Works To Catch Delinquent Payroll Taxes

Under current IRS procedures, the IRS can take up to 3 months to determine and notify a business if they are delinquent on their payroll taxes. The IRS recently announced that they plan to introduce a new system by the beginning of 2017 that will notify IRS agents in a matter of days if an [...]

By | July 28th, 2016|News|Comments Off on IRS Works To Catch Delinquent Payroll Taxes

New Overtime Rules and How Technology Can Help or Hinder

Technology will definitely play a role in compliance with the new overtime rules. Here are 2 areas where it will have opposing influences. 1. One area where technology will play a positive role is very clear. The new overtime rules should make all business owners much more aware of the importance of accurately tracking their employees [...]

By | June 28th, 2016|News|Comments Off on New Overtime Rules and How Technology Can Help or Hinder

New Overtime Rules and the Fluctuating Work Week

The Fluctuating Work Week for salary employees is one of the options being considered as businesses work on understanding the new Over Time Rules for salary employees and adjustments to accommodate compliance. The Labor Dept. does allow for use of the Fluctuating Work Week to pay salary employees, but there are some important requirements that [...]

By | May 31st, 2016|News|Comments Off on New Overtime Rules and the Fluctuating Work Week

Your Company May Qualify for Payroll Tax Research Credit 

Beginning 2016, employers with gross receipts of less than $5 million a year may be eligible for a payroll tax credit for qualified research expenses. The credit of up to $250,000 can be applied towards the company's Social Security tax liability for the year. This is a result of the Consolidated Appropriations Act signed Dec. [...]

By | May 23rd, 2016|News|Comments Off on Your Company May Qualify for Payroll Tax Research Credit