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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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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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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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Single Touch Payroll Phase 2: What to expect

Ascender

Single Touch Payroll (STP) left the Australian payroll world abuzz in the past year, with how it changed the way business reported their payroll information to the Australian Taxation Office (ATO). Besides the ATO, different government agencies may now request access to the payroll data submitted for use in their own processes.

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How to comply with the 2020 W-4 and withholding changes

Business Management Daily

For decades, payroll departments have used two basic principles to withhold income taxes from employees’ pay: Employees indicate the number of their withholding allowances on their W-4s and you figure their income tax withholding based on those W-4s and your pay period. The IRS has recently released the second drafts of the 2020 W-4 and Pub.

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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.