Cue the “Jaws” movie music, because the penalties are coming. Thursday, July 11th, on the monthly IRS Payroll Industry call, the IRS continued to communicate that ACA compliance activities continue, including non-compliance letters, despite legislative and judicial challenges. One example is Texas v. United States which argues that the Affordable Care Act (ACA) individual mandate […]
continue reading...Posts Tagged ‘Integrity Data’
Why Your Company Should Insource Payroll Instead of Outsourcing
“Outsource” seems to be the word of the day for small businesses. The idea is that if you don’t have the staff and expertise to do it yourself (insource payroll), you should have someone else take care of it for you. That idea has some merit, but it’s overly simplistic. Sometimes what you need isn’t […]
continue reading...A CEO’s Perspective on Financial Wellness: Part 2 – Financial Literacy
While “financial literacy” could have a negative connotation for some, in the context of financial wellness, it is an enormous advantage. Many employers implement financial wellness programs or tools thinking it’s a way to help employees fix a problem. And for many it does. However, there is more to it than that. What is financial […]
continue reading...A CEO’s Perspective on Financial Wellness: Part 1 – Employee Engagement
Financial wellness is a term that means different things to different people, especially in the workplace. If you ask a business owner, a benefits manager, a broker and an employee what financial wellness means to them, you will likely get a lot of very different answers. If you ask what a financial wellness program should […]
continue reading...IRS Releases an “Early” Draft of the 2020 W-4
In response to changes in federal taxes by the Tax Cuts and Jobs Act (TCJA) passed in December of 2017, the IRS released an early draft of the new 2020 W-4 on May 30th. Read more about the reasons for the change here. This new form will require payroll software and service providers to change […]
continue reading...50 employees: the “magic” number that triggers more burden for employers
As companies grow and hire more employees, additional compliance burdens often accompany that growth. For example, many employers fear the dreaded 50 employee threshold - for good reason! 50 employees is the magic number that triggers an additional compliance burden for employers. When that 50 employee threshold is reached, employers need to address compliance issues […]
continue reading...Overtime Changes – What’s it Mean for Employers?
In early March, the Department of Labor (DOL) Wage & Hour Division issued some proposed changes to the overtime rules. These rules have been relied upon by the payroll industry for several years to determine who can be a salary, exempt employee and who should be paid overtime wages. Back in 2016, the Obama administration […]
continue reading...ACA Variable Hours Tracking: Who, What, When?
Employer compliance is an ongoing effort that requires preparation and maintenance, and ACA hours tracking can be complicated. Especially for employers who have variable hour employees who require eligibility determination throughout the year. As a reminder, a variable hour employee is one who does not have a set schedule that meets the average of 30 […]
continue reading...4 Reasons to Pivot to a New ACA Solution
The Affordable Care Act (ACA) has been in place for several years now and the solutions companies have put in place to manage ACA compliance range from manual spreadsheets to specialty software to outsourcing the whole thing. In the current political climate, many companies hesitate to change solutions, hoping the ACA will disappear. But the […]
continue reading...Updates on the 2020 W-4 Saga
Late last year, word from the IRS was that we could take a sneak peek of the new W-4 in March of this year. Read more here about the information we had at that time. As background, the Tax Cuts and Jobs Act (TCJA) – passed in December of 2017 – made significant changes to […]
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