This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The 2021 income tax season will soon be in the history books. With income tax calculations still fresh in our heads, this is a great time to do some tax planning for 2022. Here are 12 tax topics to consider: Itemized Deductions- Only about 10% of taxpayers can itemize since the Tax Cuts and Jobs Act went into effect in 2018.
The Families First Coronavirus Response Act (FFCRA or Act) is part of the federal government’s effort to minimize the economic impact felt by American families dealing with the COVID-19 global pandemic. Together with the Coronavirus Aid, Relief and Economic Security (CARES) Act, also enacted by the U.S.
ACA reporting deadlines The Affordable Care Act (ACA) mandates that employers file reports annually with the IRS and distribute 1095-C forms to employees. The IRS requires this testing for Section 125 plans, HRAs, FSAs, and self-insured medical plans. Missing these deadlines can lead to significant financial penalties.
Employees typically make contributions under salary reduction agreements that allow them to contribute a portion of their salary on a pre-tax basis. A Flexible Spending Account is an employer-sponsored and employer-owned account that employees can use to pay for eligible health-related expenses using pre-tax dollars.
Zelt is a cloud-based HR and payroll management software designed to simplify and streamline HR tasks, especially for small and medium-sized businesses. This information can be accessed at any time, making it easier to manage employee records and ensure accurate payroll processing. Payroll management is another crucial feature of Zelt.
Fingercheck is a comprehensive workforce management solution that offers businesses an efficient and streamlined approach to managing their employees’ time and attendance, payroll, HR, and more. The software also provides robust payroll functionality, automating the payroll process and eliminating the need for manual calculations.
Included material spans from initial application through leaving the organization. For instance, employers cannot include medical information in an employee’s general personnel file due to the Americans with Disabilities Act (ADA). Medicalleave of absence requests. Family and MedicalLeaveAct paperwork.
Is there such a thing as pregnancy disability leave ? The Pregnancy Discrimination Act , an amendment to Title VII of the Civil Rights Act of 1964, notes that women affected by pregnancy or related conditions must be treated in the same manner as other applicants or employees who are similar in their ability or inability to work.
The guidance states that employees who have shown symptoms whether they have tested positive or not can return to work if: at least 10 days have passed from the onset of symptoms; at least 24 hours have passed without a fever with the employee not using any fever reducing medications; and. improvement in other symptoms.
Payroll laws. Employees typically need to pay income taxes in the state where they live and work. They typically won’t have any tax obligations in the state the business is based. Employers will need to collect the appropriate state tax forms and submit all required deposits and documentation to the appropriate state.
The new COVID relief package included in the Consolidated Appropriations Act, 2021 (H.R. It includes extensions and expansions of payroll relief and another set of $600 checks payable to most taxpayers. The key payroll provisions include: An extension of the paid sick/ familyleave provisions and your tax credit for providing leave.
Some business owners adopt the ad-hoc attitude where only the bare-bones policies of remuneration, leaves and such are covered. Such an attitude leaves an organization open to legal disputes. Payroll deductions. Check your state and local law to ensure all leave requirements are included in your employee handbook.).
And since hurricane season is still at its peak, now it a good time to remind everyone about natural disasters and payroll. 15, 2020, to file individual and business tax returns and make tax payments, including third-quarter estimated tax payments. In addition, penalties on payrolltax deposits due after Aug.
Employers give paid paternal leave in almost all high-income nations. It includes leaves given to expectant fathers, mothers, and leaves for adoption. Traditionally, all firms are required by international labor laws to give at least 12 weeks of paid leave to women employees who are entering motherhood.
As financial statements, tax returns, and similar types of records will be a concern for all organizations, including your CPA or a similar accounting professional on the team is a smart move. If you have employees, you must keep all employment tax records for at least 4 years after the date the tax becomes due or is paid, whichever is later.
Paternity leave in Massachusetts is a hot topic of discussion right now. At Genesis HR, we’ve seen more inquiries about paternity (and parental) leave in the last several months than we have in all the years before it combined! The Emergence Of Paternity Leave. What is “standard” paternity leave? Click To Tweet.
6201, Families First Coronavirus Response Act very soon. Here are the provisions of interest to Payroll and HR. Emergency paid leave benefits. Employees who worked 30 days before being affected by COVID-19, who don’t have access to any paid leave (i.e., Benefits are tax-free.
The HR world is abuzz with all the implications of implementing New York state’s paid familyleave legislation and California’s ban-the-box law, both of which went into effect January 2018. Paid familyleave. New York State’s paid familyleave legislation is billed as the country’s strongest.
The end of the year is a hectic time for payroll staff and business owners. While the year is winding down, the payroll department is ramping up to prepare for the end of the year and ensure that all reporting deadlines are met. Some payrolltax compliance items are completed quarterly, or more frequently throughout the year.
If you’re considering payroll outsourcing UK, it’s likely you will encounter plenty of jargon on your journey to finding the right outsourced payroll provider. Don’t forget to check out our top 10 tips for choosing the right outsourced payroll company. These are sometimes taxable, which means they will appear on payslips.
In the past two weeks, two major pieces of legislation have been passed in response to the COVID-19 pandemic: the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES). Below you will find summaries of key provisions within each Act that impact employers and employees.
As the year ends, questions of taxes, domicile, and residency should be top of mind for employers looking to avoid any unnecessarily complex tax issues in the new year. Your domicile is the state you intend to make your permanent home and the state to which you return if you leave. A complete list of their medical doctors.
For example, once you have 50 or more employees within a 75-mile radius, you must let eligible employees take job-protected leave under the Family and MedicalLeaveAct (FMLA). Unpaid leave of absences (for things like voting and donating blood). Paid sick leave. Payrolltax.
Payroll has moved to center stage at the IRS. Most deal with implementing the Tax Cuts and Jobs Act: Guidance on the definition of “qualifying relative” for individual income tax purposes. Employees may account for tax dependents in Step 3 of the 2020 W-4. New Form 1099-NEC. A BIT MORE THAN IT CAN CHEW?
Each of these factors impacts the employer’s options under the Families First Coronavirus Response Act (FFCRA). The FFCRA provides two types of paid leave to working parents, emergency paid sick leave (EPSL) and paid leave under the Family and MedicalLeaveAct ( FMLA ).
Yet, even the most seasoned HR employees occasionally need clarification about specific recordkeeping requirements, such as how long they should hold on to personnel records after an employee leaves the company. These documents include payroll records, time cards, pay rate information, and anything else related to payment.
Besides that, your confidential medical records will let you know if any team members have disabilities that you need to consider when planning and assigning tasks. Additionally, the IRS requires that employers hold onto tax documents for 4 years after the tax becomes due or paid, whichever occurs later.
These cover the gamut from paid sick leave and medicalleave, occupational safety rules, and expanded coverage for more family members like parents-in-law. The California Department of Fair Employment and Housing will administer more rules on familyleave , sexual harassment, and much more affecting even small employers.
On top of payroll and HR issues, employers also have to deal with taxes and an ever-growing maze of state and federal regulations. According to NAPEO, this often includes payroll, benefits, HR, tax administration and regulatory compliance assistance. That’s just for payroll. A PEO offers a simple solution.
Navigating the acronyms of health benefits or the alphabet soup of pre-tax benefits is challenging enough on its own. “FMLA” refers to the Family and MedicalLeaveAct. It is a federal law that guarantees certain employees up to 12 workweeks of unpaid leave each year with no threat of job loss.
These documents act as official records that certain events took place or that proper procedures were followed. Many serve as supporting evidence when the company files taxes or gives reports to other federal agencies. These policies act as an instruction manual for those involved in managing electronic records. OSHA forms.
The Type of PTO Requested The PTO request should clearly state what type of leave the employee is requesting, such as vacation or sick leave. Many HR and payroll software programs will already have this built into the PTO request workflow. So you’re probably not going to want to reject bereavement or medicalleave requests.
Since they are tax-exempted, they also lower the employee's average tax bill by reducing the taxable income. Employers must offer comprehensive healthcare coverage for the employee and sometimes immediate family members (spouse and kids) to deal with any medical emergency.
Paid parental leave policies are an excellent way to enhance employee benefit offerings and support the well-being of new parents within your Company. Offering robust benefits, including parental leave, can also help support more competitive recruiting and better retention. Many companies do not offer any form of paid familyleave.
Have your employees review and update their personal information for tax documents, benefits cards, and other important matters. Documents that contain sensitive/confidential information such as social security numbers, drug test results, or medical data should be stored in confidential employee files with limited access. (Do
It also clarifies the Fair Labor Standards Act (FLSA) regulations for paying overtime. There’s a lot you need to know about classifying your employees the right way based on the Fair Labor Standards Act (FLSA). The federal overtime provisions are contained in the Fair Labor Standards Act (FLSA).
The future of the Family and MedicalLeaveAct ( FMLA ) is taking shape before our eyes. In passing the Families First Coronavirus Response Act (FFCRA), Congress authorized limited paid leave for the rest of 2020. In all likelihood, some form of paid FMLA leave will survive the pandemic.
Depending on the severity of the damage, some employers may voluntarily continue paying employees their wages (full or partial), which requires forethought and potentially tax planning. Under the Fair Labor Standards Act ( FLSA ), non-exempt workers must be paid only for the time they work.
Human resource departments have extensive record-keeping obligations under the Fair Labor Standards Act ( FLSA ), the Family and MedicalLeaveAct ( FMLA ), the Occupational Safety and Health Act (OSHA Act), Title VII of the Civil Rights Act, and other state and federal laws. Wage rate tables.
Despite the emergence of the healthcare marketplace, people still look to their employer as the first and most cost-effective choice for medical insurance. According to the Affordable Care Act (ACA), U.S. Medical plans with no or low-cost deductibles. The employee saves money because this set-aside money is not taxed.
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “ARPA”) into law. The ARPA also allows the employer, insurer, or multiemployer plan sponsor who subsided the premiums to offset the cost by claiming a new federal tax credit. The subsidy is tax-free to the individual receiving the subsidy.
Pandemic leave policies are a hot topic in 2021 after many of the Families First Coronavirus Relief Act’s (FFCRA) federal mandatory provisions expired at the end of 2020. The FFCRA – the first comprehensive federal paid leave law – set the floor for COVID-19 leave. Current federal law on pandemic leave.
Stricter timelines and reporting protocols are now in place, demanding HR departments to act quickly and transparently in resolving DEI-related issues. However, in recent years, these laws have evolved to recognize a broader range of life events and medical conditions. Health and safety regulations 1. Benefits and compensation 1.
This includes expertise in areas such as employee relations, payroll processing, benefits administration, and compliance with labor laws. A bilingual HR manager can bridge the gap between management and employees, acting as a trusted intermediary.
We organize all of the trending information in your field so you don't have to. Join 46,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content