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Payroll

Pass the word: What employees need to know about W-2s

12/20/2023
You’re going to be extraordinarily busy this month. The best strategy is to head off employees’ W-2 questions now. Consider using this template to communicate basic information to employees about their W-2s.

Friday wrap: 2024 standard mileage rate, a new tax form, know your spouse and more

12/15/2023
2024 mileage rate, joint-employer rule, default letters and more as we crawl toward year-end.

SECURE 2.0 challenges, part 5: Long-term part-time employee regs

12/04/2023
While you were busy deciding what to do with your Thanksgiving leftovers, the IRS was busy releasing an almost indigestible set of proposed regulations on long-term part-time employees’ participation in your 401(k) plan. You may rely on these regs until the IRS issues final regs.

January 2024: Employer’s business tax calendar

11/30/2023
Here’s your monthly guide to critical payroll due dates.

Lawsuits question use of 401(k) plan forfeitures

11/21/2023
Earlier this year, the IRS issued proposed regulations giving 401(k) plan administrators discretion to determine how the plan uses forfeited contributions. The regs didn’t go out on a limb; plan administrators have been using this discretion for years. But maybe not for much longer, if plaintiffs in two lawsuits have their way.

In the Payroll Mailbag: December ’23

11/21/2023
How do we account for payments to salespersons? … Should we 1099 an employee if we buy materials from him?

Tick tock, watch work off the clock

11/21/2023
Would you know compensable working time if you saw it? If you pay for noncompensable working time anyway, you can put conditions on your payment. Two cases illustrate.

Two-minute payroll reads: December ’23

11/21/2023
Payroll is complicated and your time is limited. Spend two minutes reading these digests and you’ll be up-to-date on key payroll developments.

Please explain: What does it mean to gross up?

11/21/2023
If you pay an employee’s taxes on, say, a $500 bonus or the value of a gift card, those taxes become income to the employee. That means more withholding. And if the employer keeps picking up the taxes, what results is a never-ending upward spiral of taxation. The only way to escape is to gross up the payment. But what does this really mean?

All tax Friday wrap: The last of the 2024 inflation adjustments and a little bit more

11/10/2023
2024 inflation adjustments and volunteer opportunities ahead of the holiday weekend.