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Time to reprogram your payroll system for 2020 withholding

Business Management Daily

In a very Grinch-like fashion, the IRS has coughed up some of the withholding instructions you need to begin reprogramming your payroll systems for 2020 withholding. It’s also released a draft of the 2020 Circular E , the Employer’s Tax Guide. The draft of the 2020 Circular E discusses the new W-4. But only some.

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Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

1 payday back into 2020, you’d still have 27 biweekly pay periods, this time in 2021. This avoids the problem, but many payroll systems aren’t set up to deal with these fractions. Most payroll systems allow you to suppress benefits’ deductions for the extra pay period. 1, 2021, is a holiday. Who’s impacted.

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If You’re Paid Biweekly, You’ll Probably Get an Extra Paycheck in 2020

HR Digest

It seems pretty straightforward – except that every 11 or 12 years, because of our calendar system and leap years, there are actually 27 pay periods in the year. Does this mean you’ll get an extra paycheck in 2020? Does this mean you’ll earn more than your annual salary in 2020? This means that gross pay would be 3.7%

401(k) 81
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How to comply with the 2020 W-4 and withholding changes

Business Management Daily

1—all pre-2020 withholding-allowance based W-4s and the 2020 W-4, which is shaping up to be entirely different. The IRS has recently released the second drafts of the 2020 W-4 and Pub. 2020 Form W-4. The IRS released the second draft of the 2020 W-4 in mid-August. The key to Pub. Step 1 applies to all employees.

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Executive pay gap reporting 2020: what’s required?

cipHR

With the first companies required to report on their executive pay gaps from early 2020, we answer some of the most common questions about why executive pay reporting has been introduced, what information your report needs to include, and how to calculate pay ratios. . The post Executive pay gap reporting 2020: what’s required?

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2020 W-4: 2nd draft and your questions answered

Business Management Daily

The IRS promised the second draft of the 2020 W-4 by the end of July. BIG CHANGE: Since withholding allowances have been eliminated, the American Payroll Association questioned why the IRS continued to call the first draft Employee’s Withholding Allowance Certificate. 15-T, here are some questions we’ve encountered about the 2020 W-4.

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The 2020 W-4 continues to confound

Business Management Daily

It’s crunch time for your 2020 payroll processes and lots of folks still have trouble digesting the monumental changes to the W-4 and the withholding processes. So, those pre-2020 W-4s will continue to be valid until employees refile, if they ever do. 19, 2020. How does the payroll system know how much to withhold?