Business Management Daily

NOVEMBER 16, 2020

The form must be received by Independent contractors by February 1, the same day the IRS must receive your paper or electronic forms. The penalties for failing to file 1099-NEC forms correctly and on time aren’t chump change anymore. Beginning with forms filed next year, the penalty for failing to file correctly is $50.

Electronics 98

Electronics Consulting Taxes Employment 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 6, 2022

The Internal Revenue Service (“IRS”) recently issued proposed regulations affecting certain reporting deadlines under the Patient Protection and Affordable Care Act (“ACA”). Background on Required ACA Forms. See, e.g. , IRS Notice 2020-76. Proposed Extended Deadline for Forms 1095-B and 1095-C (to Individuals). Old Deadline.

Electronics 52

Electronics Insurance Employee Enrollments Taxes 52

Business Management Daily

OCTOBER 14, 2022

Not all businesses will need to file 1099 forms. However, for those that do, it’s important to meet the IRS deadlines, whether paper filing or e-filing. Not doing so, and not filing for extensions, will land you with fines and draw unwanted attention. This form is due to both the IRS and Recipient by January 31st.

Electronics 52

Electronics Taxes Life Insurance Profit Sharing Plan 52

Business Management Daily

OCTOBER 14, 2021

For businesses and employers, that means end-of-year accounting and W-2 filing is right around the corner. However, with frequent changes, shifting deadlines, and more, keeping compliant can feel like a daunting task. These are the tax forms that your employees need to file their yearly tax returns. Reporting requirements.

Electronics 52

Electronics Employment Taxes Payroll 52

Business Management Daily

OCTOBER 6, 2022

Plan for a lower mandatory e-filing threshold. We don’t yet know whether the IRS will issue final regulations dropping the mandatory e-filing threshold down to 100 or more information returns from 250 or more returns. You can be penalized for filing W-2s, 1099s, and 1095s on which you report incorrect Social Security numbers.

Payroll 52

Payroll Payroll Software Electronics Software 52

Business Management Daily

NOVEMBER 23, 2020

1099 form Copy As are due to the IRS by March 1st if filing by paper, or March 31st when filing electronically. The new Form 1099-NEC is the only major change you’ll see in 2020. 1099-NEC is due to both the IRS and recipients by February 1, making it one of the earliest due forms to the IRS.

Electronics 52

Electronics Life Insurance Insurance Taxes 52

Business Management Daily

MAY 31, 2022

Laura did not think this task sounded too difficult, but by the second drawer, she changed her mind. She also explained that the only items she actually tossed were some electronic mail printouts from last year that were originally sent to the account of a person no longer with the company. Jan asked about the nature of these messages.

Electronics 52

Electronics Family and Medical Leave Act Management Taxes 52

Business Management Daily

AUGUST 8, 2022

Worried that your company might not have a particular document on hand if the IRS conducted an audit? Developing recordkeeping requirements and retention schedules is far from a one-person endeavor. Likewise, with the number of electronic records kept nowadays, include representatives from the IT department.

Family and Medical Leave Act 105

Family and Medical Leave Act Taxes Deductions Deductible 105

Business Management Daily

JULY 26, 2021

Small business owners sometimes feel overwhelmed by the various tax-related forms the IRS expects them to complete. Companies file Form 941 four times a year to report income taxes, social security tax, or Medicare tax withheld from employees’ paychecks. If you underpaid, you’ll owe the IRS more money. What is Form 941?

Taxes 52

Taxes Payroll Government Electronics 52

Business Management Daily

AUGUST 26, 2021

While your payroll department may not come with a torrent of wind and rain, it might be embroiled in a maelstrom of chaos trying to keep up with updates, changing regulations, and more. We first highlighted changes to the IRS’ FIRE system (short for Filing Information Returns Electronically) a few weeks ago.

Payroll 52

Payroll Electronics Taxes Insurance 52

Business Management Daily

OCTOBER 28, 2021

If you’ve had new hires, including year-end seasonal hires, double-check that you have W-4s and all required paperwork from them. Finally, double-check that any changes in employee withholdings have been applied properly. Brush up on legal changes. File state reconciliation forms.

Payroll 52

Payroll Family and Medical Leave Act PTO Flexible Spending Account 52

PeopleStrategy

DECEMBER 12, 2023

That means you need to be acutely aware of changes, such as new annual limits on contributions and required coverage in 2024. We have a full list of HSA key features, eligibility requirements, and more available for download now. If so, be aware of changes that go into effect Jan. 1, 2024, for overtime-eligible employees.

401(k) 52

401(k) Overtime Health Savings Account Retirement Plan 52

AssuredPartners

FEBRUARY 27, 2019

The deadline for employers to distribute 1095-C or 1095-B forms to their employees was once again extended. The deadline for providing individual statements to employees is "},{"attributes":{"italic":true,"bold":true},"insert":"March 4, 2019"},{"insert":"."},{"attributes":{"list":"ordered"},"insert":"n"}]}

Electronics 40

Electronics Medical Insurance Employment 40

Stratus.HR

JANUARY 24, 2022

How do I get my W-2 if my address changed? From here, select “Please provide my W2 Electronically.”. CARES Act 401K Relief Options for Participants Top 5 Things to Know about the New W-4 IRS Releases 2018 W-4 and Withholding Calculator. You will need to have the correct spelling on your W-2 when you file your taxes.

Taxes 64

Taxes Payroll IT Deductions 64

Business Management Daily

NOVEMBER 20, 2019

You can try to obtain employees’ consent to have their W-2s electronically delivered or you can drop employees’ copies in the mail on Jan. Anyone expecting an early tax refund from the IRS will be disappointed. We want to do this for timekeeping, but HR says we can’t, because we’d be changing the employee’s last name.

Payroll Service 40

Payroll Service Payroll Taxes Take Home Pay 40

AssuredPartners

APRIL 30, 2020

The notice explains that good faith includes the use of electronic alternative means of communicating with plan participants and beneficiaries who the plan fiduciary reasonably believes have effective access to electronic means of communication, including email, text messages, and continuous access to websites.

Employee Benefits 52

Employee Benefits Electronics Pension Insurance 52

HR Lineup

APRIL 23, 2024

Understanding the various tax forms required by the Internal Revenue Service (IRS) is essential to ensure accuracy and avoid penalties. From reporting employee wages to withholding taxes, employers must be well-versed in the forms they must file. Failure to file or pay excise taxes can lead to penalties and interest charges.

Taxes 85

Taxes Employment Health Insurance Deductions 85

Qandle

AUGUST 29, 2022

A manual payroll software requires that the processing of the paycheck be done by hand, and as a result, it is a practice that is much slower than an automated system. To be more specific, the employee clocks in and out using a swipe card or badge, the hand print or fingerprint technique, or the electronic fingerprint reader.

Payroll Software 98

Payroll Software Payroll Software Payroll System 98

Business Management Daily

OCTOBER 7, 2019

That’s about to change, thanks to the Tax Cuts and Jobs Act. Critical flaw: The TCJA omitted granting authority to the IRS to require all employees to refile their W-4s with their employers. This anomaly has left employers and the IRS in a bind, since two radically different W-4s will be valid, come next Jan.1—all

Payroll System 49

Payroll System Payroll Taxes Deductions 49

Higginbotham

APRIL 10, 2023

District Court for the Northern District of Texas issued a ruling that affects portions of the Affordable Care Act’s (ACA) preventive care services requirement. The court ruling does not affect requirements related to contraceptive coverage. States may also impose preventive care requirements on insured plans. However, on Feb.

Electronics 52

Electronics Commissions Government Taxes 52

Higginbotham

MARCH 1, 2022

In general, many states require contractors to be licensed at the state level, but some states do not. Along with a contractor’s license, most states also require all businesses to have workers’ compensation and general liability insurance. Below you can find the contracting licensing requirements for each state.

Construction 52

Construction Insurance Taxes Workers’ Compensation 52

BerniePortal

FEBRUARY 11, 2020

1095-Cs need to be provided to employees by January 31, 2020, and filed with the IRS by February 28, 2020 if filing by paper, or electronically filed by March 31, 2020. Also, if you have more than 250 1095-Cs to file, you’re required to file automatically. 1095-C Deadlines.

Health Insurance 72

Health Insurance Electronics Taxes Insurance 72

Hireology

NOVEMBER 21, 2017

Keeping up with constantly changing state and federal compliance regulations can be a never-ending cycle, and employers can face steep fines or lawsuits for common human error mistakes. Employers with group health plans and 20 employees or more are required to offer this temporary extension of health coverage.

Payroll 99

Payroll Overtime Health Insurance Taxes 99

Business Management Daily

SEPTEMBER 29, 2023

Paycor’s other payroll features include: Unlimited payroll runs Auto-run payroll Check stuffing Garnishments State and federal tax filing Time off requests PTO tracking Payroll analytics Pay cards and direct deposits Mobile app As you can see, Paycor has all the bases covered when it comes to running basic payroll.

Payroll 52

Payroll Payroll Software Manufacturing Software 52

Hireology

APRIL 19, 2018

Keeping up with constantly changing state and federal employee compliance regulations can be a never-ending cycle for your HR team, but your dealership can face steep fines or lawsuits for common human error mistakes. Employers with group health plans and 20 employees or more are required to offer this temporary extension of health coverage.

Overtime 60

Overtime Health Insurance Payroll Taxes 60

Hireology

APRIL 19, 2018

Keeping up with constantly changing state and federal employee compliance regulations can be a never-ending cycle for your HR team, but your dealership can face steep fines or lawsuits for common human error mistakes. Employers with group health plans and 20 employees or more are required to offer this temporary extension of health coverage.

Overtime 60

Overtime Health Insurance Payroll Taxes 60

Hireology

APRIL 19, 2018

Keeping up with constantly changing state and federal employee compliance regulations can be a never-ending cycle for your HR team, but your dealership can face steep fines or lawsuits for common human error mistakes. Employers with group health plans and 20 employees or more are required to offer this temporary extension of health coverage.

Overtime 60

Overtime Health Insurance Payroll Taxes 60

Winston Benefits

SEPTEMBER 29, 2017

Despite the efforts of Congressional Republicans and the president to repeal or replace parts or all of the ACA, nothing has changed regarding requirements in coverage. In fact, now is the perfect time to start assembling the data you’ll need to report to the IRS under the ACA. Change Is Likely to Take Time.

Health Insurance 45

Health Insurance Flexible Spending Account Health Savings Account Flexible Spending 45

PeopleStrategy

OCTOBER 29, 2019

” They must also qualify as “affordable” based on standards agreed upon by the IRS and the Department of Health and Human Services. Properly managing ACA requirements to avoid hefty penalties. Preparing for potential changes. Regardless of who earns a seat at the White House, change to the ACA is inevitable.

Consulting 53

Consulting Electronics Insurance Medical 53