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Payroll

Payroll practice essentials: W-4s for 2nd half of 2020

05/20/2020
Employees can rectify withholding mistakes during the second half of the year, but they must act fast.

EEOC’s annual EEO-1 reports postponed until March 2021

05/12/2020
Employers won’t have to submit annual EEO-1 reports to the EEOC this year. The commission announced May 7 it was temporarily postponing collection of EEO-1 workplace demographic data because of the coronavirus pandemic.

June 2020: Employer’s business tax calendar

04/30/2020
Here’s your monthly guide to critical payroll due dates.

Payroll deferrals vs. Reduced payroll deposits

04/22/2020
The Coronavirus Aid, Relief, and Economic Security Act provides employers with what seems like a bewildering array of choices: reduce your payroll deposits in anticipation of taking a credit, get an advance on your tax credits, defer your share of Social Security taxes. After surfing around and reading comments from payroll pros, it’s abundantly clear that confusion still abounds.

Back to basics: Managing termination pay

04/21/2020
The coronavirus pandemic has forced some employers to make tough choices about terminating employees. If that’s the case in your company, you need to consider what goes into a final paycheck and when that check must be given to employees you’re letting go.

Coronavirus rescue laws reach into benefit plans

04/17/2020
Together, the Families First Coronavirus Response Act (P.L. 116-127) and the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116-136) loosen up the 401(k) rules and some rules for high-deductible health plans and health savings accounts. A new provision allows you to defray employees’ student loans.

In the Payroll Mailbag: May ’20

04/17/2020
Are direct child care payments to employees taxable? … Who pays employees’ expenses if they’re working at home?

E-pay: Options for employees during the pandemic

04/17/2020
Employees working at home during the coronavirus pandemic have had no problems getting paid if they have direct deposit or you load their pay on paycards. Employees who still opt for paper checks weren’t that lucky. With e-pay options now in the foreground, it’s time to reach out to the dwindling few who still receive paper checks.

Lock-in letters soon to get a new look

04/17/2020
Lock-in letters sent earlier this year still referred to the number of withholding allowances employees took on W-4s they refiled in response to lock-in letters. The IRS has now provided definitive instructions on what to do.

E-filing threshold may not drop in 2021

04/17/2020
The Taxpayer First Act lowers the mandatory e-filing threshold for information returns to 100 or more returns, from 250 returns, beginning with forms filed next year. The IRS, on the other hand, is much more equivocal.