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 2014!
Author: Rena Pirsos, JD, Legal Editor
The IRS has issued Notice 2014-57 announcing the 2014-2015 list of "optional high-low" federal per diem rates that employers may choose to use instead of the standard federal rates issued by the General Services Administration to reimburse expenses incurred by employees who travel on business to locations within the Continental US. The IRS also has issued the special federal meals and incidental expenses per diem rates that apply to the transportation industry and the incidental-expenses-only rate.
The value of health insurance benefits provided to an employee's same-sex spouse or partner and their dependents is taxable in Louisiana.
Employers seeking to advise employees of when they will provide reimbursement for business travel and help employees maintain reasonable limits on business expenses should consider including this model policy statement in their handbook.
Employers seeking to advise employees that they will offer educational assistance as a benefit and encourage employees to continue professional development through advanced training and education should consider including this model policy statement in their handbook.
At the end of each calendar year all employers are responsible for closing out the year's payroll in compliance with all federal, state and local income and employment tax laws and regulations. Using XpertHR's various tools and resources will help employers establish and follow good payroll practices and procedures all through the year to ensure a successful year-end that is free of noncompliance penalties and fines.
The 7th Circuit Court of Appeals upheld recent lower court decisions invalidating Indiana's and Wisconsin's laws banning same-sex marriage.
HR and legal considerations for employers regarding payroll.