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U.S. Unemployment Claims Rise, But Continuing Rolls Lowest Since 1969

Allwork

However, the Department of Labor report shows that the labor market is still tight and people on jobless rolls have hit their lowest point since 1969. . Still, claims are below the all-time high of 6.137 million seen in April 2020 during the early days of the pandemic.? . The post U.S.

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What’s the deal with on-demand pay?

BMT Office Administration

There were at least 11 on-demand pay vendors at the American Payroll Association’s Annual Congress last month, not including the national third-party payroll providers. Nothing wrong with vendors highlighting their products at a convention of Payroll professionals. What is the additional burden on the Payroll department?

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IRS releases new FAQs on Form W-2c

BMT Office Administration

The IRS has released a new round of FAQs in two fact sheets, both of which clarify the circumstances under which you must provide employees with Forms W-2c if you took the payroll credits for providing them with pandemic-related paid sick or family leave during 2020 and/or 2021. Fact sheet 2022-15. The new FAQ 98a reads like this.

Forms 52
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IRS fact sheet causes confusion around Form 941

BMT Office Administration

We admit we were thrown for a loop after reading the IRS’ latest fact sheets on reporting pandemic-related paid leave to employees on Form W-2c. 31, 2021 ) in box 14, or (2) provide a corrected statement to the employee correcting the prior reporting. 31, 2021 , for leave taken by an employee after March 31, 2021, and before Oct.

Forms 52
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

A 1099 is a form used to report non- employee compensation. 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. If you are paying someone through your normal employee payroll process with income tax withholdings, you typically need to send them a W-2.

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8 tips for completing your first-quarter 941

BMT Office Administration

Check the proper quarter in the Report for this Quarter box to the right on the top of the form. Make sure you check the same quarter box on Schedule B , the Report of Tax Liability for Semiweekly Schedule Depositors. This fraction-of-cents adjustment, which may be positive or negative, is reported on Line 7.

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How to handle remote employee time tracking

BMT Office Administration

Prior to 2020, only 6% of all employees worked remotely. Besides software, organizations can also use spreadsheets, task lists, and self-reporting from employees. It has to do with the increased volume of emails due to the rise in remote working after 2020. However, that percentage jumps up to about 50% for remote workers.

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