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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. This includes income tax returns, Forms 941 and 940, and information returns.

Payroll 52
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IRS update: digital communication and payroll

BMT Office Administration

Information return filers filed about 300,000 to 400,000 1099s through IRIS this past winter. It’s more challenging with business and payroll returns, because of the power of attorney; the IRS is beginning a POA initiative, he added. Payroll is compliance-oriented; there’s very little wiggle room to be creative.

Payroll 52
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U.S. Private Sector Adds Nearly Half a Million Jobs in June

Allwork

The report, produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, uses anonymized payroll data from client companies served by ADP to provide a comprehensive picture of the labor market. The data also revealed that annual pay increased by 6.4% year-over-year, which was down from 6.6%

Payroll 189
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HR Professionals Are Burned Out. Can A.I. Help?

Allwork

Artificial intelligence systems can aid human resources teams by acting as informed HR assistants capable of automatically completing back-office tasks and answering easy questions. . Human resources departments exist in all industries to manage the needs of modern workforces for diverse corporations.

Payroll 261
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Beyond KPIs: What’s The Value Of Treating Your Workforce Like Valued Customers?

Allwork

Employees who receive valuable training and growth opportunities are likely to maintain appreciation for their employer and speak positively about their time spent at their previous job, contributing to the company’s reputation even after they are no longer on payroll.

Payroll 184
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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. The FTC announced earlier this month that it is seeking to ban noncompete clauses, a stipulation that prohibits employees at a company from job hopping within their industry or sharing company insights, and often much more. .

Policies 329
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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?

Payroll 97