Payroll Briefs

Delivering Business Insights

Category: "Blog Archive"

7 Advantages to Taking Your Benefits Administration Online

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 […]

IRS Rule Eases Hardship Withdrawals

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 […]

5 Tips for Year-End Payroll Prep

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 […]

Overtime Rule Finalized by Department of Labor

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 […]

Continue Use of Current Form I-9

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.

New Form W-4 Coming in 2020

Earlier this year, the Internal Revenue Service (IRS) unveiled a draft of a proposed new Form W-4, Employee’s Withholding Allowance Certificate, that will make accurate withholding easier for employees starting in 2020. Undergoing additional changes in August, the IRS recently released the second draft of the form which will likely be its final transformation before being released later this fall.

5 Payroll Mistakes to Avoid

Mistakes happen to the best of us. But when they happen on an employee’s paycheck or with a payroll tax payment, it can result in frustration and monetary damages. That’s why it’s important to have a solid payroll processing plan in place to avoid potential errors and fees. To help you avoid payroll-related mistakes, DM […]

ACA Affordability Threshold Decreases for 2020

The Internal Revenue Service recently announced that the employer-sponsored health coverage will satisfy the Affordable Care Act (ACA) affordability requirement in 2020 if the lowest-cost, self-only coverage option available to employees does not exceed 9.78% of an employee’s household income. This limit comes down from the current year’s 9.86%. As part of ACA’s employer mandate, […]

EEOC Reporting Deadline Approaching

Earlier this year in May, the Equal Employment Opportunity Commission (EEOC) required employers to submit EEO-1 Component 1 data that lists employees by job category, race, ethnicity and sex. Fast approaching is the September 30 due date for Component 2 data, which includes the employees’ hours worked and pay information from their W-2, broken down […]

Health Reimbursement Accounts to Take on New Form

A newly issued regulation could change how employers pay for employee health care coverage. On June 13, 2019, the Department of Health and Human Services, the Internal Revenue Service, the Department of Treasury and the Department of Labor issued a new final rule intended to expand the options for health reimbursement accounts (HRAs) for which […]