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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.

Payroll 52
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Employee personnel files — what should and shouldn’t be included

BMT Office Administration

These documents tend to be ones containing sensitive or confidential information. For instance, employers cannot include medical information in an employee’s general personnel file due to the Americans with Disabilities Act (ADA). Health insurance forms. Beneficiary information. Dependent information.

Filing 121
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

That’s not even mentioning all the paperwork involved in the onboarding process, such as employee handbooks , contact information, and direct deposit/banking information — just to name a few. Besides the EEOC, the IRS also has requirements for employee documents, including which forms you need to have for each employee, such as W-4s.

Filing 52
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IRS Whistleblower Office is hard at work, extra caution advised

BMT Office Administration

Recently, we discussed Payroll ethics and whether you’d break any ethical rules if you revealed someone’s tax information. The Whistleblower Office is authorized to pay monetary awards in proportion to the value of the information provided. You must complete Form 211. And corporate audits often lead to payroll audits.

Payroll 59
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5 SOP examples for your business

BMT Office Administration

New hire refers to any new employees beginning employment at the company. Conduct the HR orientation to orient the new employee with the timekeeping and payroll software , necessary paperwork, and internal resources. Direct Deposit Form. Employee Handbook and Acknowledgement Form. Example 5 – Payroll processing.

Payroll 72
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. Both forms provide end-of-year compensation information that employees and contractors need for tax purposes. A W-2 is a tax form that businesses send to their employees as well as the government. What is a W-2?

Payroll 52
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New guidelines for electronic W-4s you probably missed

BMT Office Administration

The IRS states that electronic substitutes for Form W-4 aren’t a license to simplify or modify the form. 15-T: Electronic systems set up as a substitute to paper Forms W-4 must exactly replicate the text and instructions from the face of the paper Form W-4 beginning with Step 1c through Step 4c (inclusive).

Forms 52