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Payroll update: Student loans, free tax filing, and more

BMT Office Administration

One tidbit we’ve picked up? You should inform employees of this development. The pause in student loan collections is unrelated to the Department of Education’s plan to forgive up to $20,000 in student loan debt. The IRS and state tax agencies have long-standing agreements to share tax data. And we make our free throws.

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Stay on track with this payroll compliance checklist

BMT Office Administration

Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. However, there is also a lot more that goes into proper payroll processing including a large number of compliance functions and concerns.

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4 important payroll issues to keep an eye on in 2023

BMT Office Administration

Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. The IRS punted on its final regulations , dropping the mandatory e-filing threshold for information returns for 2021 and 2022 W-2s, 1099s, and 1095s. These regs will scoop up smaller employers into the e-filing net.

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IRS provides additional information on IRIS system

BMT Office Administration

The IRS is so serious about IRIS, its new simplified e-filing platform for information returns, that it’s convening monthly working group meetings over the internet. account for another federal agency, it will work with the IRS as well. Payee information can’t be saved. A pop-up box will tell you information is missing.

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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 regulating agencies say.

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Employers need to prepare W-2 security plans

BMT Office Administration

The FBI and the Cybersecurity & Infrastructure Security Agency recently issued an alert to critical infrastructure companies warning them of a new ransomware attacker. The agencies’ advice was to: Secure remote access tools. If the C-suite objects, an assistant can pick up a hard copy from the payroll department.

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4 Monumental Ways Banning Noncompete Clauses Will Transform The Future Of Work

Allwork

Agreements like noncompete clauses are part of how information like that remains confidential. According to the agency, such clauses exacerbate inequalities in the workforce by limiting and exploiting opportunities for professionals. . Loss of Intellectual Property and Proprietary Information .

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