One of the most complicated challenges to navigate amongst the nationwide COVID-19 shutdown is making decisions about employee pay. Since the pandemic is truly the most unprecedented event in our lifetime, there are no set instructions or past experiences to explain how employers should proceed, especially with something as sensitive as pay. However, all employers […]
When it comes to managing your company’s payroll processing, the task has historically been considered as a back-office, administrative role. However, your payroll manager has the significant task of serving your business’s most important asset: its people. Given payroll’s transactional nature, if you don’t have an effective payroll solution in place, it may be difficult […]
The Internal Revenue Service (IRS) recently issued Notice 2020-54 detailing how employers must report the amount of emergency sick leave wages as well as expanded family leave wages paid to their employees under the Families First Coronavirus Response Act (FFCRA) within the time period of Apr. 1, 2020 and Dec. 31, 2020. DM Payroll Solutions […]
As a business owner, keeping tight payroll records is imperative. However, can you confidently say which records your business needs to keep and for how long? While your company grows and you hire more and more employees, you likely will run out of room (physical and/or virtual) to house each employee’s individual paperwork. After awhile, […]
In light of the COVID-19 crisis, the Internal Revenue Service (IRS) has issued new guidance pertaining to cafeteria plan changes, health flexible spending arrangements (FSAs) and health savings accounts (HSAs) in IRS Notice 2020-29 and Notice 2020-33. The new guidance provides flexibility to employees across the country as businesses continue to navigate the current health […]
When COVID-19 first put the country into a state of emergency, the U.S. Department of Labor (DOL) provided employers with time to comply with pandemic-related paid sick leave and paid family leave mandates. During this time, businesses could correct mistakes without facing scrutiny. However, the DOL recently increased its enforcement efforts. DM Payroll Solutions gives […]
Over the past 50 years, larger employers have been required by the federal government to file an annual EEO-1 report to provide demographic data about their business. Given the unprecedented circumstances the COVID-19 pandemic has recently presented millions of businesses, the U.S. Equal Employment Opportunity Commission (EEOC) announced they have delayed the 2020 deadline to […]
On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA), bringing welcomed changes by small businesses to the Paycheck Protection Program (PPP) forgiveness rules initially created by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The new legislation makes it easier for millions of PPP borrowers to […]
If you are a small business who had to temporarily close due to the COVID-19 outbreak, you may be unsure of the financial options available to you. The Paycheck Protection Program (PPP) loans many businesses received were intended to help ease the financial burden of payroll and more, allowing them to function until states lifted […]
On May 20, 2020, the U.S. Department of Labor (DOL)’s Wage and Hour Division (WHD) announced a final rule granting employers the opportunity to offer bonuses and other incentive-based pay to their employees with varying work hours week-to-week. The rule further clarifies additional payments to employees’ fixed salaries are compatible with usage of the fluctuating workweek method under […]
