Each year, employers have two responsibilties when it comes to the Form W2: 1. provide each of your employees with their copy, and 2. provide a copy to the Social Security Administration (SSA).
But there's one big difference this year: The deadline for filing W2s with the SSA has been moved up - the deadline is now January 31, 2017. Previously, the deadline was March 31.
This means that you have less time to complete your review of wage, tax, and other applicable employee data and get relevant information to your payroll service provider.
We've instituted a hard deadline of Friday, December 30 for our clients to send that relevant information to us.
"We want our clients' tax information to be right the first time. That's why we created this checklist to help you ensure all relevant information gets to us here at CheckWriters by Friday, December 30," says Jill Grasso, Tax Manager at CheckWriters Payroll.
UPDATE: The new overtime rule was blocked by a federal judge on November 22, 2016. At this time, the overtime rule will not take effect as planned on December 1, but it could still be implemented later down the road. Employers may continue to follow the existing overtime regulations until a decision is reached.
Most employers in the Bay State already offer some form of paid time off or sick leave.
But on July 1, 2015, it became mandatory for all employers in Massachusetts to offer sick leave – regardless of size. And those employers with 11 or more employees must offer paid sick leave.
That's why our Development Team added a custom MA sick accrual history report to help our clients in that state better track the MA sick accrual. Several of our clients in Massachusetts requested a method to display the current year available balance that an employee has left to use.
The report runs an accrual history per check date for your MA sick time accrual code. The “Available to Use” column subtracts 40 from the used and displays the employee’s available sick time.
Employers also have had a fair number of questions regarding the law since it took effect last year. We’ve compiled the most popular ones:
Did you recently receive a late notice from the IRS?
It was likely issued in error. The IRS has alerted employers that many payroll tax deposits made on May 31 (next day- depositors) and June 2 (semiweekly depositors) were incorrectly sent late notices even though the deposits were actually made on time.
In Massachusetts, employers are now prevented from requesting salary history from job applicants.
The state is the first in the country to expressly prohibit employers from requesting prior pay information.
On August 1, the governor signed the Massachusetts Pay Equity Bill into law. It had previously passed unanimously in the Massachusetts legislature.
The Pay Equity Bill is one of a handful of bills that the Massachusetts governor requested be on his desk before the end of the current legislative session. Notably, it has been hailed as “compromise legislation,” endorsed by both labor groups and business associations.
Indeed, Richard Lord, President and CEO of Associated Industries of Massachusetts (AIM) – whose organization worked on the compromise bill – expressed gratitude that the legislation “ensures fair compensation for all workers while allowing employers to attract and retain skilled employees.”
So how will the bill affect employers in the Bay State?
In a world where we have such exciting "pay as you go" options like cell phone plans and bicycle rentals, something like Pay as you Go Workers' Compensation Insurance might seem a bit less exciting to the average person.
But as a business owner or Payroll and HR leader, pay-as-you-go Worker's Compensation should pique your interest. That's because it offers some major benefits over traditional Workers' Compensation Insurance policies.
As we all know, Workers' Compensation Insurance is mandatory for most employers (although there are slight differences in requirements by state). Generally speaking, Workers' Compensation Insurance protects the employer from lawsuits brought by injured employees. It also ensures the employee gets benefits regardless of who was at fault.
Here are 3 benefits of opting for pay as you go Workers' Compensation Insurance, rather than a traditional policy:
Employers often wonder if they are required to reimburse employees for mileage.
If we go by the Fair Labor Standards Act (FLSA), the answer is no - the FLSA does not explicity require employers to reimburse employees for mileage (although the state of California does require it).
Even though mileage reimbursement is not required by federal law, most employers choose to do so anyway. It's an attractive benefit and, for employees who do a lot of driving like deliverymen and salespeople, an expected benefit.