In a move that could impact millions of Americans, the United States Department of Labor (DOL) has proposed a significant increase to the minimum salary threshold for exempt employees under the Fair Labor Standards Act (FLSA). The long-anticipated proposal has the potential to bring about significant changes in the way employees classify their employees and […]
At the end of August 2023, the IRS announced an administrative transition period for catch-up contributions, extending the deadline to 2026. This will allow higher earners, age 50 and up, to receive two more years to use pre-tax dollars for their retirement savings in 401(k) and similar plans. Employers had been warning officials, after the […]
When it comes to running a business, efficient and reliable payroll is vital for maintaining employee satisfaction and organizational success. Unfortunately, not all payroll providers offer the same level of customer service, and the repercussions of receiving subpar support can be significant. Below, DM Payroll Solutions highlights the hidden costs that businesses may face because […]
In July 2023, a U.S. district court ruled the U.S. Department of Labor’s (DOL) dual jobs final rule under the Fair Labor Standards Act (FLSA) as valid. Several restaurant industry groups filed a lawsuit to halt the rule, but a Texas federal court issued an order rejecting the challenge. Although the industry groups plan to […]
The U.S. Citizenship and Immigration Services (USCIS) announced an updated version of Form I-9 to verify the identity and employment authorization of employees. This updated form is available for use on the USCIS website starting Aug. 1, 2023, and must be used by all employers starting Nov. 1, 2023. There will also be an alternative procedure to the in-person […]
When thinking about the tax obligations of your organization, the focus is normally on federal and state income taxes. But collecting, reporting and remitting payroll taxes in accordance with federal, state and local laws are equally important. The rules that come with payroll tax payments can be complex and the penalties for not meeting the […]
Payroll security procedures are essential for safeguarding sensitive employee information, avoiding fraud and regulatory violations. Payroll data contains private information that should only be accessible by authorized individuals, such as employee names, social security numbers, tax information, bank account numbers and other private data. Yet, putting reliable payroll department security measures into place can take […]
There are many advantages to both your business and employees by offering a Health Savings Account (HSA) solution as part of your overall benefits package. With inflation leading the headlines over the last few months, most business owners are keeping a close eye on costs. Although it can be difficult to control the costs of […]
Increased social awareness and workplace transparency have made pay equity more than just a standard compliance issue for many companies today. Business leaders are under increased pressure to fully understand and thoroughly respond to the issue of pay equity. Neither of those two broad challenges is a straightforward task. To start, fully understanding what pay […]
The U.S. Department of Homeland Security (DHS) and U.S. Immigration and Customs Enforcement (ICE) announced employers will have until Aug. 30, 2023, to come into compliance with Form I-9 requirements. This comes after the end of the flexibilities provided during the COVID-19 pandemic, which officially end on July 31, 2023. History In March 2020, ICE […]
