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Payroll

White-collar Wednesdays: Initial preparations for the DOL’s final salary-level regs

02/21/2024
We are now a little over two months away from the release of final regulations raising the weekly and annual salary amounts employees must earn to remain exempt from the FLSA, as promised by the Department of Labor. Regardless of how this shakes out, it’s best to be prepared.

Docking pay for snow-day absences: When is it legal?

02/04/2024
The snow’s coming down pretty good and an exempt employee calls to say she can’t make it in today because her car is stuck. Can you deduct a full day’s pay from her salary for that missed day? What if she’s non-exempt? What if you close work because of bad weather? Here’s guidance—and a handy flowchart—to help you make the call.

First Friday wrap of February: IRS advises on 2023 W-2s, House passes a tax bill and more

02/02/2024
Did the groundhog see its shadow in our first Friday wrap of February?

March 2024: Employer’s business tax calendar

01/31/2024
Here’s your monthly guide to critical payroll due dates.

Friday wrap: Affordable health benefits, IRS continues enhancing online services and more

01/26/2024
Affordable health benefits, Form 990-T, Maryland taxpayer break and more as January winds down.

In the Payroll Mailbag: February ’24

01/24/2024
Can a W-2c report $0 wages? … Does leap year impact exempts’ pay?

Information return penalties increase for 2024

01/24/2024
Failing to file your information returns this year, failing to file in the proper medium—which for most employers is e-filing—or failing to include correct information will now cost you more.

W-2 Wednesdays: What to tell employees about their W-2s

01/24/2024
This week we’re tackling your toughest job of all—trying to explain to bewildered employees what all those box entries mean and why they differ.

Takeaways from the DOL’s worker status rule

01/22/2024
The Department of Labor released its final rule on workers’ status as employees or independent contractors a couple of weeks ago. The rule, which becomes effective March 11 (pending litigation, of course), restores the DOL’s six-part economic realities test, with an eye toward the modern economy. This rule was never meant to upset the apple cart. But some apples will fall by the wayside. Here are some things to think about now.

More SECURE 2.0 guidance: Pension-linked emergency savings accounts

01/16/2024
SECURE 2.0 allows you to offer to enroll or to auto-enroll non-highly compensated employees into pension-linked emergency savings accounts, beginning with the 2024 plan year—Jan. 1, 2024—for calendar-year plans. Working relatively speedily, the IRS released initial guidance on PLESAs last Friday, before the long holiday weekend. More comprehensive guidance will follow.