Payroll

Direct deposit is so 20th Century! Many millennials favor paycards

05/06/2015

Direct deposit was once new and novel. Now, most employees do have their pay deposited directly into their bank accounts, but for others, plastic paycards may be an answer.

Tax Court: Payments to kids are allowance, not wages

05/04/2015

Summer means kids working in the family business. But beware. The Tax Court tossed a sole proprietor’s effort to deduct as wages payments made to her children. According to the court, there wasn’t any consistent correlation between the hours worked and the amounts recorded as wage payments.

Cool down the summer hiring process

05/03/2015

Eager young adults may be papering the company with summer hiring inquiries and job applications. These tips will help you cool the summer hiring process.

Regs allow wraparound coverage for part-time employees

05/02/2015

Excepted benefits, such as limited-scope dental and vision benefits, aren’t subject to the Affordable Care Act’s requirements to provide affordable group coverage that provides minimum value. Proposed regulations would include wraparound coverage as a new category of excepted benefits. This coverage would be available to part-time employees and retirees. Under these regs, wraparound coverage would be permitted under a pilot program that begins no later than Dec. 31, 2017, and lasts for three years.

May 2015: Employer’s business tax calendar

04/30/2015

Here’s your monthly guide to critical payroll due dates.

Happy campers, happier parents

04/30/2015

Employees looking for a place to park their preteens during the summer should consider day camp. Tax break: Parents may defray day camp expenses, including expenses incurred for specialty camps, through the company’s dependent care assistance program, up to the $5,000 annual limit. Also covered: child care expenses for kids who stay home.

Are there limits on employees’ refiling W-4 forms?

04/28/2015

Q: We have employees who change their W-4 forms on an almost weekly basis. This is becoming very burdensome. Management has asked whether there are any regulations that allow us to limit the number of W-4 changes employees can make a year. Also, how do you explain to full-time employees that they’re not exempt from paying federal income taxes?

Are employees’ mileage reimbursements taxable?

04/25/2015

Q: Employees who aren’t on call, but who are called back to work to handle an emergency, are reimbursed for all of their traveling expenses. Must we include these reimbursements in their income and tax them?

Courts create a wide berth for wage payment lawsuits

04/23/2015

Federal and state courts don’t have to go out on too long a limb to allow employees to sue for their unpaid wages and to find corporate officers personally liable under state wage payment laws for failing to pay those wages. Two recent cases illustrate.

Sneak peek at the IRS’ new guidance on meals

04/19/2015

The IRS hasn’t addressed whether employer-provided meals are taxable to employees in decades. So it caused some alarm when the item showed up on its 2014-2015 priority guidance plan. According to Paul Carlino, chief, Employment Tax Branch 1, IRS’ Office of Division Counsel/Associate Chief Counsel (Tax Exempt and Government Entities), the IRS is getting ready to issue new regulations and perhaps a revenue procedure.