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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

Maintaining payroll compliance is a must for accounting departments, but it’s often easier said than done. That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. From the implementation of SECURE 2.0 From the implementation of SECURE 2.0

Payroll 52
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

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. Confidential documents include medical files, tax documents, employee benefits , payroll records, and more. Here’s what you’ll need to include in your confidential employee files.

Filing 52
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Employee Records: End of year review & preparing for next year

BMT Office Administration

This category can also include awards, promotion records, and education/training records. These documents include payroll records, time cards, pay rate information, and anything else related to payment. These types of documents include exit interview forms, final performance reviews , termination letters , and benefits information.

Medical 52
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It’s time to review (or create) your document retention policy

BMT Office Administration

Sticking to a set record retention policy eliminates guesswork and promotes efficiency. Never dispose of a current employee’s Form I-9; you must keep it for as long as the employee works for you, and for a certain amount of time after they stop working for you. Smart businesses ease such concerns with proactive measures. Per the U.S.

Policies 105