Payroll

How long must we retain our payroll records?

02/26/2013

Q: We have some very thick payroll files, so we’re wondering what we need to keep and for how long. We’d also like to confirm that time cards must be kept for seven years.

IRS issues regs on ACA’s employer play-or-pay provision

02/25/2013

A key portion of the Affordable Care Act health care reform law is the employer play-or-pay provision, also known as the employer mandate. Regulations, which are proposed to become effective for months after Dec. 31, 2013, implement this provision. You may rely on these regs until final regs are issued.

Better late than never: 2013 inflation adjustments issued

02/22/2013

Well, it took the IRS long enough, but it finally released the official inflation-adjusted figures for 2013. Here’s the roundup.

How do you track hours worked for nonexempts?

02/13/2013

Despite plenty of new high-tech options, good old-fashioned paper time sheets remain the most popular way to record how many hours employees work, according to a recent HR Specialist poll.

Could your comp system survive a disaster?

02/06/2013

Natural disasters can bring business to a standstill. It’s critical to maintain redundant systems to avoid losing payroll records and preserve the ability to issue paychecks.

Let the sun shine: Daylight Saving Time begins in March

02/06/2013

Daylight saving time begins at 2 a.m., March 10. Graveyard-shift workers, therefore, will actually work only seven hours that day.

Time traps when employees clock in before shift starts

01/29/2013

Q. Some of our employees punch in 30 minutes before their shifts are scheduled to begin, and by doing so, they’re racking up overtime. They’ve been told many times not to do this, but they don’t listen. Do we have to pay them for the time after they clock in but before their shifts begin?

Result is costly for taxpayer who chose wrong FedEx service

01/25/2013

Timely mailing is timely filing. This “postmark rule” applies to documents sent to the IRS or Tax Court via the U.S. Postal Service, and to certain services provided by IRS-designated private delivery services. Warning: If you’re going to use a private delivery service, be sure that the IRS has sanctioned that particular service.

IRS issues more Medicare FAQs

01/24/2013

Along with the proposed regulations on the 0.9% additional Medicare tax, the IRS has updated and supplemented its questions and answers regarding this new tax. The latest FAQs stress that the additional tax applies per employee.

Employee health benefits notification begins March 1

01/23/2013

The Affordable Care Act health care reform law requires you to provide current employees and new hires with a notice regarding health insurance coverage, beginning March 1.