Overview: A growing employer trend over the past several years has been to integrate payroll within the HR department. So, now more than ever, HR managers need to understand all the complex issues and requirements involved in payroll tax law compliance in order to effectively oversee payroll processing and ultimately avoid costly penalties. This involves managing the following tasks, among many others:
Trends: The following are just a few of the important issues that will have an impact on payroll in 2015!
Author: Rena Pirsos, JD, Legal Editor
California employers seeking to emphasize compliance with, and educate their workforces about this law, should consider including this model policy statement in their handbook.
Georgia employers are now permitted to offer employees the option to be paid by payroll card, so long as the employer's program meets certain requirements.
In-depth review of the spectrum of Gerogia employment law requirements HR must follow with respect to Payment of Wages.
Under a law change that is effective immediately, Georgia employers now have the option to pay employees by payroll card in addition to cash, check and direct deposit.
The IRS has released the inflation-adjusted, calendar-year 2016 amounts for high-deductible health plans (HDHPs) and health savings accounts (HSAs), as determined under § 223 of the Internal Revenue Code.
This section helps HR and payroll professionals to understand how particular types of benefit plans must be structured and how to properly tax and report contributions, reimbursements and distributions in order to ensure compliance with the Internal Revenue Code.
In Notice 2015-38 the IRS has revised the list of designated private delivery services (designated PDSs) that employers filing federal tax forms, or other documents, with the IRS may use in order to be eligible for protection under the "timely mailing treated as timely filing/paying" rule of Internal Revenue Code (IRC) § 7502. The Notice also updates and consolidates the rules for determining the postmark date for documents delivered by a designated PDS. These changes are effective May 6, 2015.
This chart provides employers with a comparison of the current and prior year retirement plan cost of living adjustments and fringe benefit limitations. It helps employers ensure that they are withholding the correct amount of taxes from the pay of employees who receive various benefits. The chart will be updated annually when new amounts are announced by the Internal Revenue Service, which is usually by the end of October.
HR and legal considerations for employers regarding payroll.