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Stay on track with this payroll compliance checklist

BMT Office Administration

Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. However, there is also a lot more that goes into proper payroll processing including a large number of compliance functions and concerns.

Payroll 52
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New guidelines for electronic W-4s you probably missed

BMT Office Administration

Without any fanfare at all, the IRS included new guidelines for electronic W-4s in the 2022 edition of Pub. The IRS states that electronic substitutes for Form W-4 aren’t a license to simplify or modify the form. The general guidelines for electronic W-4s have been around for a long time. The W-4 continues to confound.

Forms 52
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What Is The Impact Of Hybrid Working On Space Optimization?

Allwork

This shift has many benefits, but it also leaves facility managers, CFOs, and business owners wondering what will happen with their office real estate. While this shift has many benefits, it also leaves facility managers, CFOs, and business owners with a dangling question: what will happen with our office real estate?

Policies 291
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Stay organized and secure with electronic records management

BMT Office Administration

Like many other workplaces, Laura’s office could benefit considerably from implementing electronic records management (ERM). Such a management system utilizes information technology to organize and store records in electronic form. A properly maintained electronic records management system serves as an efficient one-stop-shop.

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

BMT Office Administration

When you can show a thoughtful, standardized records management procedure to a relevant third party such as a lawyer or auditor, it backs up your decisions. Input from senior management, human resources, and the record-keeping department is a must. When constructing your policy, examine legal and regulatory guidelines.

Policies 105
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IRS provides additional information on IRIS system

BMT Office Administration

Billie Crawford, an IRS project manager of development services at the IRS, hosted the second IRIS working group meeting last week. IRIS’ next phase will include forms in the 1097 and 1098 series, 5498 series, and Forms 3921 and 3922. You can upload only one file at a time, with 100 forms per file. helpmail@irs.gov.

Filing 59
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. Both forms provide end-of-year compensation information that employees and contractors need for tax purposes. A W-2 is a tax form that businesses send to their employees as well as the government. What is a W-2? What is a 1099?

Payroll 52