As a 401(k) plan sponsor, it is easy to become overwhelmed with all of your responsibilities that comes with it – educating employees, staying compliant with regulations, following plan terms, handling participant contributions and much more. With the help of some automation you can ease some of this burden by integrating your payroll and 401(k) […]
Category: "Payroll Processing"
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 […]
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.
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.
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 […]