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Bank failures and payroll — what employers should know

BMT Office Administration

A close call The FDIC announced Monday that it would protect all deposits, which means employers should have no problem making their payrolls. You can jot these points down and put them away in the hopefully-we’ll-never-need-to-use-this file. Explore whether it’s possible to switch your payroll accounts to another bank.

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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. Plan for a lower mandatory e-filing threshold. We don’t yet know whether the IRS will issue final regulations dropping the mandatory e-filing threshold down to 100 or more information returns from 250 or more returns.

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12 Last-Minute Gift Ideas For Digital Nomads

Allwork

It helps avoid the hassle of sending loads of emails to try and find a convenient time to meet. . One popular travel accessory that every digital nomad needs is a travel adaptor so that they can recharge all their devices, from laptops, cameras and cell phones to digital watches and alarms. . Foldable laptop stand .

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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

While fortunately a rare circumstance, dealing with payroll for a recently deceased employee can be tricky. Hopefully this isn’t an issue that comes up for your payroll department often, but it’s important to know what to do, and get it right, in the event that it does happen. What pay is taxable?

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CFPB warns against money apps for paying employees

BMT Office Administration

Direct deposit works through the Automated Clearing House (ACH) network—you instruct your bank to prepare a payroll file and it disburses employees’ pay electronically to their banks. All major banks have apps you can download on your phone. It’s also important to understand what we’re not talking about.

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Rocky tax season could lead to slow refunds for employees

BMT Office Administration

There’s a reason the IRS rolled out some new tools and beefed up some old tools on its website this filing season—it’s still bogged down with last year’s returns! The likely effect will be delayed tax refunds for taxpayers who file even minimally complex returns. 2021 Form 1040 tax filing stats so far. For the week ending Feb.

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Leveraging Procedures for Effective Training and Onboarding

All Things Admin

You might be using a new phone system or dealing with new project management software. Communication Introduce them to the company’s communication channels and email distribution lists. Set up a branded email for the new hire, complete with an appropriate title and auto-signature.