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

BMT Office Administration

While dealing with lots of paperwork doesn’t rank as most HR professionals’ favorite task, proper recordkeeping for employee personnel files is a must for any organization. In addition, if an employee is involuntarily let go, their employee file must be kept for one year following the termination date. Why is that?

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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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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. 25, 2022, (i.e.,

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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

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Registering your business – Start Up Guides – Part 5 | THE SMALL.

The Small Business Blog

Business Telephone Systems & Phone Lines For Your Business techdepot.co.uk HM Revenue & Customs ‘HMRC’ If you are self employed as a sole trader or partnership you will need to inform HMRC of this fact, this is done by completing form CWF1. If you are operating through a limited company the form you use is CT41G.

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Q & A: I'm a Sole-Trader, how can I do my Accounts DIY ( Do-It.

The Small Business Blog

Business Telephone Systems & Phone Lines For Your Business techdepot.co.uk » « Previous Entries This entry was posted on Wednesday, October 17th, 2007 at 3:30 pm and is filed under Accounting , DIY Business , Question & Answer , Small Business / SOHO , Sole-Trader. External Links External Links SynergyOne.co.uk

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