The Internal Revenue Service (IRS) extended the deadline for furnishing 2019 Forms 1095-B and 1095C to its employees from Jan. 31 to March 2. Every year since the Affordable Care Act (ACA) requirement went into effect, the due date has been delayed due to a substantial number of employers, insurers and other providers of health […]
The Department of Labor (DOL) has provided employers with some much needed clarity on the perks that are to be included in workers’ “regular rate of pay” in the final release of a new rule set to take effect Jan. 15, 2020. Under the Fair Labor Standards Act (FLSA), employers must pay workers at least […]
It’s a new year and we’re excited about debuting a new look and a new name! Effective January 1, 2020, Data Management Payroll Services is now known as DM Payroll Solutions. Don’t worry, we’re still the same company – just refreshing our aesthetics to evolve with the times and reflect Doeren Mayhew’s brand configuration, our long-term CPA […]
The Social Security Administration (SSA) recently announced starting Jan. 1, 2020 the maximum earning subject to payroll tax will increase by $4,800 to $137,700 – up from $132,900 in 2019. The SSA fact sheet summarizes all the 2020 changes, however here are some of the quick highlights: The maximum Social Security tax employees and employers […]
Managing the process of employee benefits administration can be cumbersome, and done via paper forms, extremely overwhelming for most HR departments to handle. That is why many companies today are turning to online solutions that have workflows to reduce the paper shuffling, account for updated regulations and make the whole process more efficient and enjoyable […]
The Department of Labor (DOL) has proposed a rule that would implement changes to the tip credit under the Fair Labor Standards Act (FLSA). The FLSA requires covered employers to pay employees at least the federal minimum wage, which is currently $7.25 per hour. Employers are allowed to count a limited amount of the tips […]
Recently, the Internal Revenue Service (IRS) issued final regulations on 401(k) hardship withdrawals, relaxing current restrictions and easing the process for plan participants. Set to go into effect Jan. 1, 2020, some of the changes stemming from the regulation are mandatory, while others are voluntary. Check out the key provisions below: Plans will no longer […]
With the new year closing in on us quickly, don’t wait until December 31st to start your year-end processing. As you know, the year-end payroll process can be overwhelming to accurately calculate taxes, compensation and deductions during crunch time. DM Payroll Services has compiled 5 quick tips to help make your year-end processing run more […]
The U.S. Department of Labor has announced its long-awaited Final Overtime Rule making changes to federal overtime regulations governing which employees are entitled to minimum wage and overtime pay under the ‘white-collar’ exemptions. Effective as of Jan. 1, 2020, the Final Overtime Rule will increase the standard salary level by almost 50% from $455 to […]
Many employers are aware that the current Employment Eligibility Verification Form (I-9) expired on August 31, 2019. However, since the U.S. Citizenship and Immigration Services (USCIS) still has yet to announce a release date for the new Form I-9, employers should continue using the current form until the new version is released.
