Payroll News
Read articles on payroll software; if you're looking for info on payroll check software, payroll tax, online payroll or payroll processing in general, you've come to the right place. The payroll software experts at Optimum Solutions have plenty of helpful tips and information to assist you in all your payroll needs. Check back often for guest posts by other payroll experts, payroll news and all things payroll services.
Feel free to email our payroll software experts at info@optimum-solutions.com and your question may be featured on our HRIS blog.
Payroll News
2012 American Payroll Association Legislative Issues
February 1 2012
In 2011, the American Payroll Association supported multiple pieces of legislation that were introduced, but not accepted into law. In 2012, we should expect to see the APA fighting to have some of these bills reconsidered at both the state and federal levels.
Automatic IRA Act:
The S 3760…
2012 Standard Deductions, Personal Exemption and Foreign Earnings Income Increase
January 25 2012
The IRS has announced increases for the Standard Deduction, Personal Exemption and Foreign Earned Income Exclusion for 2012.
Standard Deduction
The standard deduction for married couples filing jointly or surviving spouses increased from $11,600 in 2011 to $11,900 in 2012. Single taxpayers and married taxpayers filing separately increased from…
Benefits of Direct Deposit
January 18 2012
Although direct deposit has become a widely used payroll solution, questions regarding the payment option still arise. If there is a direct deposit debate in your office, the following advantages will help you eliminate questions and concerns on both the employer and employee side.
More Convenient Deposits
Using direct deposit, employees…
Payroll Tax Cut Temporarily Extended: 5 Important Facts You Need To Know
January 11 2012
In December, the payroll tax cut was extended to keep the two point reduction on the Social Security Tax. Learn how the tax cut may affect you.
Maintaining Employment Eligibility Verification I-9 Forms
December 21 2011
There has been a recent crack down by the U.S. Citizenship and Immigration Services on enforcing Employment Eligibility Verification Forms (I-9s). The USCIS has increased enforcement and harshened penalties on employers in an effort to try and target illegal immigration.
USCIS Penalties
If there is an issue, the USCIS is no longer filing cases as civil penalties, they are now being brought under criminal
code. Standard penalties are:
State Payroll and Tax Updates for 2012
December 15 2011
With the new year around the corner, there are many upcoming federal and state changes that are being released by the government. To stay ahead, see if your state has any upcoming tax changes.
California Tax Changes For 2012
- Employers Guide for 2012 Released: A Resource for on compliance…
2012 IRS Updates for Tax Forms, Tables, & Calendars
December 14 2011
The holidays are quickly approaching, and for Payroll and HR Managers this means more than just the normal chaos of shopping and wrapping gifts…its year end. With the added commotion surrounding year end, it is easy to miss other important tax updates that will affect you in 2012.
The…
December 10 Deadline to Register with Vermont Tax and Wage System for 2012 Wage Payments
December 8 2011
The December 10th deadline for employers to register with the VITWS is quickly approaching. Employers who are required to use the VITWS for the report due January 31, 2012 must register by tomorrow. Employers who do not comply will be subject to a $100.00 fee.
All…
The IRS Gives Advice for Companies That Outsource Their Payroll
November 11 2011
After a series of scams involving third-party payroll providers, the IRS offers advice for companies who outsource their payroll. Avoid these risks with an in-house payroll solution.
IRS Releases Draft of Form 940
November 2 2011
Learn the differences between the old Form 940 and the new Form 940 released by the IRS for 2011. Download the new form here.
Daylight Savings Reminder: Payroll Calculations
October 26 2011
If you are in payroll, you know that the end of daylight savings time means more than moving your clock back an hour. Read this quick blog to learn what you must do to correctly pay your shift workers.
Government Changes for Payroll in 2012
October 17 2011
Find out what the Payroll, Accounting and Tax departments have in store for changes for 2012. Before you finish year end read this article to find out Federal IRS, Federal Social Security Administration, State Unemployment and State Withholding changes.
Policies and Procedures of Family and Military Leave Act (FMLA)
September 22 2011
Read this brief overview to refresh your memory about FMLA policies and procedures for the employer and the employee.
Payroll Checklist for a Smooth Year-End
September 14 2011
Use this comprehensive checklist to ensure that 2011 year end payroll processing runs smoothly.
Pay Cards and Termed Employees
August 18 2011
Learn best practices for paycards, especially with terminated employees. Find out how pay cards can save you money now, and when they’re appropriate.
August Balancing Checklist for Tax Reporting and Filing
August 3 2011
Use this free checklist for monthly and quarterly reporting in August and avoid penalties and interest.
July Balancing Checklist for Tax Reporting and Filing
July 28 2011
Learn how you can make quarterly tax reporting and filing easier. Use this free checklist for monthly and quarterly reporting in July and avoid penalties and interest.
Is Your Payroll Software Minimum Wage Compliant?
May 12 2011
How do you know which minimum wage rate to use when you pay employees that work in multiple states? Your payroll software program should be in compliance with the Department of Labor (DOL), which states, “Where the Federal and state law have different minimum wage rates, the higher standard applies”…
The Direct Deposit Handbook
May 11 2011
May is the month that NACHA recognizes businesses should celebrate and campaign to get your organization to be 100% direct deposit. It can be tricky getting past all the employees’ fears and excuses, but there are resources to help you with this. Remember that all versions of Optimum Solutions payroll…
Social Security Number Randomization in 2011
April 13 2011
Since 1936, SSA has assigned 9-digit numbers used to track earnings and pay benefits.
These numbers have consisted of an area number that corresponds to the state corresponding to the zip code in the applicant’s mailing address. This method of assignment presents two concerns:
- this method imposes limits on the…
2011 Form 941 Released
March 24 2011
The IRS has released the Employer’s Quarterly Federal Income Tax return for 2011, along with the Schedule R, Allocation Schedule for Aggregate Form 941 Filers. Form 941 can be found on the IRS website.
At this time, the new instructions have not been released, but here’s…
Prepare Now for 2011 Year End
February 23 2011
Hopefully year-end is over or winding down for most of you.
Did you keep a list of what worked well and what did not during your year-end process? If not, it should be fresh on your mind. Start planning your 2011 year-end now and be sure that you remember…