The IRS recently released a draft of its new Form W-4. While the new form is not expected to be made available until 2020 employers should be aware of how the new format will affect payroll systems.
A pay card is a reloadable prepaid card offered by an employer to pay employees' net wages. Like direct deposit, once an employer deposits funds into the employee's account, the employee can then use the pay card to purchase items, withdraw cash and pay bills. Pay cards also eliminate the need for paper paychecks.
Payroll terminology can look like alphabet soup or a foreign language. And, terms used by the Department of Labor (DOL) or Internal Revenue Service (IRS) can cause even more confusion. Don’t despair, let us guide you on important terms you will encounter when either managing payroll or looking at a paycheck stub.
Employers have a responsibility to accurately calculate, pay and remit payroll deductions from their employees’ pay. Employee satisfaction is key to ensuring your business runs smoothly. A key element to employee satisfaction includes paying wages correctly.
Determining if an employee is exempt or non-exempt under the Fair Labor Standards Act (FLSA) is sometimes challenging. The FLSA requires that most employees in the United States be paid at least the federal minimum wage for all hours worked and overtime pay at time and one-half the regular rate of pay for all hours worked over 40 hours in a workweek.
Your level of I-9 knowledge can affect your compliance with the Immigration Reform and Control Act (IRCA) of 1986. This federal regulation forbids employers from knowingly hiring individuals who are not authorized to work in the United States. Take this short quiz to see how your Form I-9 knowledge stacks up.
It is critical to correctly determine whether individuals providing services are employees or independent contractors. Failing to properly classify a worker can cause exposure to possible fines and penalties. Before you can determine how to treat payments you make for services, you must first know the business relationship that exists between you and the person performing the services.