Payroll

Payroll 2014: You’ll withhold something, but what, exactly, we don’t know

11/22/2013

The shutdown of the federal government earlier this autumn meant that the IRS was very late in releasing the 2014 personal exemption amount, which doubles as the annual withholding allowance amount. Also late, but now in the bag: the 2014 amounts for qualified transportation fringes.

Ex-worker didn’t return property: Can we tap his PTO?

11/22/2013

Q. After an employee quit, he failed to return certain company property (badge, access card, etc.). Can we legally withhold his PTO balance because of this?

Holiday bonuses: Pass the bucks

11/18/2013

Good, bad or sluggish economy, there are valid reasons—mostly sustaining employee morale—to pay holiday bonuses. If your company will be doing so, now’s the time for Payroll to plan for them.

Regs continue to outline affordability under the ACA

11/18/2013

Under the Affordable Care Act, employees who don’t have access to affordable group health insurance that provides minimum value may obtain individual insurance through the exchanges. As part of their core responsibilities, exchanges determine whether employees qualify for advance premium tax credits and other cost-sharing reductions. Two sets of regulations relate to the concept of affordable health insurance.

Don’t let court take employee’s word on hours; keep your own time records for all staff

11/15/2013

Here’s a case that should send chills down your spine if you don’t keep meticulous records of every hour worked. A court has allowed an employee’s lawsuit to proceed based on little more than her vague allegation that she wasn’t paid overtime for hours in excess of 40 per week.

Final New York wage deduction regulations now in effect

11/14/2013

The New York State Department of Labor has published final regulations—effective Oct. 9, 2013—governing employee wage deductions under Section 193 of the Labor Law.

Don’t let holiday pay/work missteps make Payroll grumpy

11/13/2013

The time between Thanksgiving and New Year’s is a busy time for many companies. Questions regarding overtime, holiday pay and temporary hires often arise. You don’t have to play Scrooge this holiday season if you know the rules.

State-by-state chart on 2013 W-2 mag media/E-filing requirements

11/11/2013

States have their own W-2 e-filing thresholds and specifications. Here’s a chart summarizing those requirements. Note: Some states didn’t release their W-2 e-filing information before this article was published. To get full details, contact your state tax department.

Are iPads given to employees who attended a seminar taxable?

11/11/2013

Question: The company sent employees to a seminar. The hosting organization gave each attendee an iPad. Are the iPads company-provided gifts, which must be valued, taxed to employees and reported on their W-2 forms?

Taxable or not? What do we do about door prizes for spouses?

11/06/2013

Question: Door prizes at our wellness fair included gift cards. We know that employees who receive gift cards are taxed on those amounts, but what about spouses—are gift cards taxable to employees and reportable on their W-2s if their spouses win prizes?