The Employee Retention (Tax) Credit was created to support businesses who forego layoffs and maintain their employees on payroll. According to the U.S. Treasury Department and the Internal Revenue Service (IRS), the refundable tax credit is 50% of up to…
The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows employers to defer the deposit and payment of the employer’s share of Social Security taxes and self-employed individuals to defer payment of certain self-employment taxes. What deposits and payments…
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s (Department) Wage and Hour Division…
In light of the Families First Coronavirus Response Act signed into law on March 18, 2020, Integrated Payroll Services (IPS) wants to reassure clients we are equipped to handle the necessary payment requirements set forth should you be faced with…
Clients often contact IPS with their concerns about new tax laws or processes. Here is one issue that has lately been front of mind for several business owners and HR managers: I mailed W-2’s to my employees, and one was…
Last November, IPS shared how a new, less complicated and more transparent IRS Form W-4 was going into effect on January 1, 2020. While it was designed to simplify the tax withholding process, some business owners remain uncertain of how…
Determining how much tax an employee wants taken out of a paycheck should become easier next year. The IRS expects to release the final 2020 Form W-4 Employee Withholding Certificate in the coming months. According to the IRS, the new…
With the New Year right around the corner, now is the ideal time to consider making adjustments to your company’s payroll process, or perhaps even an outright change of service providers. IPS recommends taking a proactive approach to analyzing your…
There’s a lot to consider when outsourcing payroll for a business. “How much will it cost? and “What level of services will I receive?” are among the first questions that may come to mind. So, how do some business leaders…
In April, Wisconsin Governor Tony Evers established a new enforcement unit to prevent companies from incorrectly classifying their workers as independent contractors and compensating them “under the table,” dodging payroll taxes, workers’ compensation and unemployment insurance costs. “When employees are…
