The Payroll Department - Payroll
128 FOLLOWERS
The Payroll Department process the payroll, escrow and pay all of the payroll taxes and prepare and file all of the necessary payroll tax returns.
The Payroll Department - Payroll
4y ago
On 12/5/19, the Internal Revenue Service (IRS) issued a new form W-4 for 2020. The form was retitled Employee’s Withholding Certificate and has been designed to make accurate income tax withholding easier for employees. Some of the key points that employers should note are as follows:
All new employees hired as of 1/1/20, must complete the new form.
Current employees are not required to complete a new form, but may elect to choose to do so to adjust their withholding based on the new form.
Any adjustments made after 1/1/20, must be made with the employee completing the new form.
Employers m ..read more
The Payroll Department - Payroll
4y ago
The U.S. Department of Labor (DOL) has issued a final rule that will take effect on January 15, 2020, with regards to what is considered the “regular rate” of pay for nonexempt employees with regards to the calculation of overtime in accordance with the Fair Labor Standards Act (FLSA). Currently, the FLSA states that the “regular rate” for all nonexempt employees must include most nondiscretionary bonuses, shift differentials, on-call pay, and commissions, among other items, in the calculation of overtime. Most employers were not sure if certain perks, e.g. gym memberships, longevity pay, pa ..read more