article thumbnail

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

BMT Office Administration

And yes, some very prominent payroll questions are included. of test takers passed the exam in 2021. The post Payroll update: Student loans, free tax filing, and more appeared first on Business Management Daily. There’s no answer grid, unfortunately. Don’t be overconfident. Just for reference, only 11.8%

Payroll 52
article thumbnail

5 things you should do now to prepare for year-end payroll reporting

BMT Office Administration

However, Payroll teams are busy preparing for a different season — year-end reporting. Work with IT to ensure the computer you use to file your returns is safe by implementing application whitelisting, which allows only specific programs to run, and keeping the payroll software up to date with the latest patches and antivirus software.

Payroll 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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. Here are five items we see coming this year. Final e-filing regs.

Payroll 52
article thumbnail

They’re Back: Boomerang Employees on the Rise for Good or Bad

Success

of all job switches” in 2021, up from under 2% in 2010. months in 2021, compared to 21.8 I left to manage a pricing team at Kroger’s grocery stores and then managed a team for a clothing retailer,” Stripling says. “I According to LinkedIn data , boomerang employees accounted for “4.3% The average time away was 17.3

2021 298
article thumbnail

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. 30, 2021 (the end of the federal government’s fiscal year), the IRS Whistleblower Office successfully collected $6.39 And corporate audits often lead to payroll audits. In your own company? As of Sept.

Payroll 59
article thumbnail

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. 31, 2021, for leave taken before Sept.

Forms 52
article thumbnail

IRS fact sheet causes confusion around Form 941

BMT Office Administration

31, 2021 , for leave taken by an employee after March 31, 2021, and before Oct. 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. Welcome to the club. What Form 941 says.

Forms 52