Monthly Archives
During the recession of recent years, employers ceased hiring and cut back on employee benefits packages with a broad sword. Due to the Affordable Care Act, however, health insurance will soon be required for some employers and mandatory for all individuals. As the economy continues to recover, employers today face a new challenge: to offer employee benefits outside of health insurance and make themselves more […]
The recent government shutdown had a major impact on many people. Of course, the government worker who was forced to sit at home during the shutdown was directly impacted. In addition, the person who depends on various government benefits and assistance was directly impacted as government services were almost completely stopped. Going fairly unnoticed, however, is a consequence of […]
Changes have been made to the Cafeteria Plan Rules for FSAs (flexible spending accounts) by the IRS. The change affects the “use-it-or-lose-it” rule that once required all of the funds to be allocated by the last day of the year or it would be forfeited by the employee. Now, if an employer elects to amend […]
With the federal government looking for ways to balance its budget, you can expect the IRS to crack down on payroll compliance violations to fuel their revenue growth. Since December is right around the corner, now is the time to prepare your business for year-end payroll compliance and protect your organization from any IRS fines. Below […]
Last month, PAYDAY Workforce Solutions advised employers to expect the FUTA Credit Reduction in California for the tax year 2013. The final list of Credit Reduction States was just announced yesterday by the U.S. Department of Labor. The list identifies 13 states (including California) plus the U.S. Virgin Islands – all of which have been considered Credit Reduction States […]