Payroll Briefs

Delivering Business Insights

Category: "Blog Archive"

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 […]

5 Benefits of Outsourcing Your Payroll

One of the most costly and time-consuming aspects of running a business is managing your employees’ payroll from week-to-week. And to top it all off, if your payroll isn’t processed on time, it can cost your business thousands of dollars in fines along with irreparable damage to employee morale. If you are not outsourcing your […]

Your Payroll’s Impact on Workers’ Compensation Insurance

Accidents happen. And when they happen in the workplace, it’s vital to have workers’ comp insurance in place to protect your employees and your business. Regardless of size of your company, insurance is one of the most standard costs of doing business – especially workers’ comp. However, the cost of paying for this coverage isn’t […]

DOL Seeks FMLA Improvements

Changes to the Family and Medical Leave Act (FMLA) are on the horizon. Recently, the Department of Labor (DOL) announced it has plans to modify the regulation in an effort to “better protect and suit the needs of workers” and “reduce administrative and compliance burdens on employers” as part of the 2019 Spring regulatory agenda. […]

Health Savings Account Limits for 2020

Health savings account (HSA) contribution limits for 2020 are going up. The Internal Revenue Service (IRS) recently confirmed a $50 increase for self-only coverage and a $100 increase for family coverage due to annual inflation adjustments. For 2020, the annual limit on HSA contributions will be $3,550 for individuals with self-only coverage and $7,100 for […]

Safeguarding Your Company from Payroll Fraud

In any kind of business that issues payroll to employees, the possibility of payroll fraud exists. According to the Association of Certified Fraud Examiners most recent Report to the Nations, payroll fraud can be financially devastating since it takes place over an extended period of time, and on average, goes undetected for 30 months. Like […]

Navigating EEO-1 Data Requirements

As you get ready to prepare your EEO-1 report this year, some events have occurred that may impact your filing. Following the government shutdown this year, the Equal Employment Opportunity Commission (EEOC), the agency responsible for collecting EEO-1 data, pushed the reporting deadline from March 31 to May 31, 2019. However, in March a judge […]

Protecting Payroll Data from Cyber Threats

In the eyes of a hacker, intercepting payroll data like employees’ bank account numbers, social security numbers, home addresses and wages would be like hitting the jackpot. A breach of this nature can cause irreparable damage to your employees’ trust and confidence, not to mention costly reputation and financial damages. These consequences don’t allow for […]

Preparing for Your Next Benefit Plan Audit: Getting Your Records in Order

For companies that provide benefit plans to over 100 eligible employees, spring usually means annual audit season is just around the corner. Undergoing a benefit plan audit can be a stressful time for any plan administrator — especially if you’re scrambling to compile the required documentation and meet deadlines. The best strategy for having a […]

U.S. Department of Labor Proposes Revision to Overtime Regulations

The U.S. Department of Labor recently recently announced a proposed rule to revise federal overtime regulations that would make more than a million new Americans eligible for overtime. Currently, employees with a salary below $455 per week ($23,660 annually) must be paid overtime if they work over 40 hours per week. This proposal would boost […]