Payroll

Exempt employees and time clocks: How closely can we monitor their hours?

06/06/2013

Q. Can we use a time clock for exempt employees? If not, how can we have a record of their hours worked?

Third-party authorizations on Form 941: Do they apply to one or all?

06/03/2013

Q: Does the authorization that appears in Part 4 of Form 941 apply only to the specific form being filed, or to all returns filed during the tax year? We want to determine if this section must be completed on each return, even if none of the information changes.

Third-party authorizations: What to know before you sign

06/03/2013

You can’t hire a third party, like a payroll service bureau, to handle your payroll unless you sign Form 8655, Reporting Agent Authorization. Along with that form, the reporting agent may also ask you to sign Form 8821, Tax Information Authorization. Caution: Don’t sign forms blindly.

Are payments taxable if an individual isn’t yet an employee?

06/01/2013

Q: When does the employer/employee relationship begin? My boss believes that relocation expenses don’t need to be reported on a W-2 form because they’re paid before an employee begins working.

NLRB back-pay ruling boomerangs into payroll

05/31/2013

In late 2012, the NLRB ruled in an unfair labor practice case that when lump-sum back pay awards span more than one year, the employer must report the awards to the Social Security Administration and reimburse employees for the excess federal and state income taxes that are attributable to those awards.

When using temps, make sure temp agency retains control of employment relationship

05/28/2013

Using temporary workers can be an effective way to stretch your labor budget without making a long-term staffing commitment. But if a temp sues over alleged discrimination, you may not have saved much money. To prevent surprises, make sure you treat the temp as a guest—leave the employment details to the agency that supplies the temp.

Hey, kid, get a job! Rules for employing teens

05/27/2013

If you’re tempted to say that to the teenagers in your house, and thankful that someone else will be employing them this summer, remember that somewhere out there other parents are saying the very same thing to their teens. And you may end up employing them.

Make the case: Direct deposit saves big bucks

05/27/2013

According to research by the Electronic Payments Association and the American Payroll Association, an employer currently printing 500 weekly paychecks can save $82,000 each year by switching to direct deposit.

June 2013: Employer’s business tax calendar

05/25/2013

NOTE: Saturdays, Sundays and legal holidays as observed in the District of Columbia are taken into account to determine due dates. Under the federal deposit rules, you’re allowed a deposit shortfall of the greater of $100 or 2% of your tax liability.

ACA regs keep rolling along

05/23/2013

Full implementation of the Affordable Care Act health care reform law is mere months away, which means that the IRS and the Department of Health and Human Services have a lot of work to do in a short period of time. The latest regulations cover the 90-day waiting period for new employees and temporary reinsurance fees.