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Payroll

Prepare now for the next round of MLR rebates

06/19/2013
Group health insurers that don’t spend between 80 and 85 cents of every premium dollar on medical care and health care quality improvement must make medical loss ratio (MLR) rebates to employees. This year’s rebates are due by Aug. 1. Take these steps now to prepare.

IRS details its response to the budget sequester

06/14/2013
The automatic budget cuts that took effect on March 1, known as the sequester, will require the IRS to furlough all employees without pay and completely close its doors on July 5, July 22 and Aug. 30, with two possible additional furlough days to be announced in August or September.

HEXs and SHOPs: Welcome to the new world of health benefits

06/13/2013
Under the Affordable Care Act, open enrollment for the individual health exchanges, or HEXs, begins Oct. 1, 2013. The outlook for the Small Business Health Options Program, or SHOPs, through which small employers may buy health insurance is a bit more complicated. Here’s where things stand.

How should we calculate withholding on executive bonuses?

06/13/2013
Question: What are the tax guidelines for executive bonuses payments? I need to calculate the withholding on them manually.

IRS issues more guidance, FAQs on VCSP

06/11/2013
Under the IRS’ Voluntary Classification Settlement Program, you can voluntarily reclassify independent contractors as employees for future tax periods on favorable tax terms: you’ll be liable for just over 10% of the wages paid to those reclassified workers for the past year and no penalties or interest will be due. Recently updated FAQs shed more light on this program.

Payroll takes a star turn in the Lone Star State

06/09/2013
Anita Bartels, senior program analyst for employment tax policy at the IRS, spoke about the IRS’ latest initiatives to attendees at the American Payroll Association’s 31st Annual Congress, held this year in Grapevine, Texas.

After tech ‘buyout’ what are our FICA/FUTA obligations?

06/08/2013
Q: We purchased some technology from another company and the deal included the transfer of some employees. Since we didn’t buy the entire company, can Payroll carry over their FICA and FUTA wages?

New pay on the way: Update on New York wage-and-hour law

06/07/2013
Get ready, New York ­employers. New developments will affect how and how much you pay your employees. The state minimum wage will soon increase and the NYSDOL has proposed new regulations on wage deductions.

­­­­­­­­L.I. diner owners face prison after serving up a side of fraud

06/07/2013
The owners of a Nassau County ­diner face up to four years in prison after a joint federal/state investigation found massive payroll and tax fraud at the restaurant. They pleaded guilty to several felony and misdemeanor counts alleging wage-and-hour violations and shady bookkeeping.

Math class is in: How to figure exempts’ first/last week of pay

06/07/2013
Employees who are exempt from the FLSA need only be paid a proportionate amount of their full, weekly salary for their first and last weeks of work if they begin or terminate employment work midweek. A federal trial court has ruled that employers have a great deal of discretion when figuring this proportionate amount.