Payroll Briefs

Category: "Payroll"

Creating a Post-Pandemic Compensation Strategy

One of the most complicated challenges to navigate amongst the nationwide COVID-19 shutdown is making decisions about employee pay. Since the pandemic is truly the most unprecedented event in our lifetime, there are no set instructions or past experiences to explain how employers should proceed, especially with something as sensitive as pay. However, all employers […]

Don’t Underestimate the Human Component of Payroll

When it comes to managing your company’s payroll processing, the task has historically been considered as a back-office, administrative role. However, your payroll manager has the significant task of serving your business’s most important asset: its people. Given payroll’s transactional nature, if you don’t have an effective payroll solution in place, it may be difficult […]

How to Report Your Employees’ Paid Leave Amounts Under FFCRA

The Internal Revenue Service (IRS) recently issued Notice 2020-54 detailing how employers must report the amount of emergency sick leave wages as well as expanded family leave wages paid to their employees under the Families First Coronavirus Response Act (FFCRA) within the time period of Apr. 1, 2020 and Dec. 31, 2020. DM Payroll Solutions […]

How Long Should You Keep Payroll Records?

As a business owner, keeping tight payroll records is imperative. However, can you confidently say which records your business needs to keep and for how long? While your company grows and you hire more and more employees, you likely will run out of room (physical and/or virtual) to house each employee’s individual paperwork. After awhile, […]

Options Available to Help You Make Payroll, Rehire and Pay Yourself a Salary

If you are a small business who had to temporarily close due to the COVID-19 outbreak, you may be unsure of the financial options available to you. The Paycheck Protection Program (PPP) loans many businesses received were intended to help ease the financial burden of payroll and more, allowing them to function until states lifted […]

DOL’s New Rule Increases Employer Compensation Flexibility During COVID-19 Crisis

On May 20, 2020, the U.S. Department of Labor (DOL)’s Wage and Hour Division (WHD) announced a final rule granting employers the opportunity to offer bonuses and other incentive-based pay to their employees with varying work hours week-to-week. The rule further clarifies additional payments to employees’ fixed salaries are compatible with usage of the fluctuating workweek method under […]

What to Know About the Updated Form 941

At the end of April, the Internal Revenue Service (IRS) issued new drafts of the 2020 Form 941 Employer’s Quarterly Federal Tax Return, to be used with the second quarter return. The new form must be filed by July 31, 2020, which if you’re a DM Payroll Solutions’ client you won’t need to worry – we […]

The Many Benefits of Direct Deposit During the COVID-19 Pandemic

The current COVID-19 crisis leaves many people across the country in a collective state of uncertainty. As an employer, you try your best to get your employees through this challenging time by offering work from home options and putting safety measures into place. Another small thing you can do is offer direct deposit to your […]

3 Key Takeaways from IRS Guidance on Employment Tax Deferrals

In a guidance released by the Internal Revenue Service (IRS) on April 10, 2020, the organization addressed how the employment tax deferrals can be treated in relation to recently passed COVID-19 legislation, including the Families First Coronavirus Relief Act (FFCRA) and Coronavirus Aid, Relief, and Economic Security Act (CARES Act). DM Payroll Solutions has collaborated […]