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Compensation & Benefits

IRS/DOL FAQs cover COVID-19 documentation

04/08/2020
Employees could begin taking paid leave under the Families First Coronavirus Response Act on April 1. Which means you could begin filing Form 7200 to get an advance on your paid leave tax credits or you could begin reducing your tax deposits to pay for leave. But all of this needs to be backed up with documentation. And as with all things labor-related, and, especially payroll taxes, your documentation must pass muster.

May 2020: Employer’s business tax calendar

04/07/2020
Here’s your monthly guide to critical payroll due dates.

ACA poverty line safe harbor set for 2020 plan year

04/07/2020
Under the Affordable Care Act’s federal poverty line safe harbor, group health benefits are affordable during the 2020 plan year if employees don’t pay more than $103.99 per month.

Feeling insecure about the SECURE Act?

04/07/2020
The ink is barely dry on the Setting Every Community Up for Retirement Enhancement Act of 2019—the SECURE Act—which was included in a year-end 2019 appropriations bill. Yet it’s evident the IRS will have its hands full clarifying the law.

In the Payroll Mailbag: April ’20

04/07/2020
What are disposable earnings for garnishment purposes? … Can a widower change his pretax cafeteria plan deductions?

Tax-exempt orgs due refunds on cost of employees’ parking

04/07/2020
The Further Consolidated Appropriations Act repeals the UBIT levied on tax-exempt employers for the cost of employees’ parking, retroactive to the enactment of the Tax Cuts and Jobs Act. So you may be due a refund for 2017 and 2018.

No vacation pay payout for employee who was fired

04/07/2020
Can your vacation pay policy deny employees their accrued vacation pay if they are fired or quit without giving notice? Yes, according to a Colorado appeals court, which ruled that an employer’s policy of not paying accrued vacation pay to an employee who was fired was valid.

IRS previews changes to withholding in proposed regs

04/07/2020
The Tax Cuts and Jobs Act may have suspended the personal exemption amount, and with that, withholding allowances, but to avoid confusion and nomenclature problems, a singular withholding allowance still exists, according to proposed regulations.

IRS spells out paid sick, family leave documentation requirements

04/07/2020
New guidance from the IRS states that employees must submit written requests to document their need for paid sick leave and paid family leave under the Families First Coronavirus Response Act.

Snapshot: How are nonexempts recording their hours?

04/07/2020
Employees may be working remotely, but it’s still critical to accurately track nonexempt hours worked. Here’s how employers are handling that task.