Blog
IRS Provides Relief to Plan Sponsors in States Impacted by Storms
In Notice 2010-48, the Internal Revenue Service (IRS) provided administrative “relief to sponsors of defined contribution pre-approved plans (i.e., master and prototype (‘M&P’) and volume...
Twelve Lawsuits Alleging FLSA Violations by Bank of America to Be Centralized in Kansas
Twelve separate lawsuits from California, Florida, Kansas, Texas, and Washington, all of which allege that Bank of America (either Bank of America, NA or Bank of America Corp.) “routinely fails to...
Question of the Week: Can an LLC Member Receive a Paycheck from the LLC?
This week’s question comes from Nikki, an LLC member. I am a member in an LLC. My neighbor is a member and receives a paycheck, but I’ve been told that I can’t receive a paycheck. Can an LLC member...
Unemployment Insurance Weekly Claims Report Update for June 19, 2010
According to the US Department of Labor, in the week ending June 19, the advance figure for seasonally adjusted initial claims was 457,000, a decrease of 19,000 from the previous week’s revised...
Tip of the Week: Employees vs. Interns
Many businesses consider having an intern due to budgetary concerns in hiring an employee. However, an intern is not free labor. An internship must be a learning experience for the benefit of the...
Former Williams College Professor Denied COBRA Coverage Due to Gross Misconduct
An Assistant Professor in the Williams College (Williams) Political Science Department was denied continuing health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act of...
Independence Day Holiday May Require Change in Processing Schedule
Monday, July 5, 2010 will be the celebration of Independence Day, a federal holiday. The offices of Vision Payroll will close July 2 at 5 pm EDT and re-open Tuesday July 6. Most banks will also be...
Impact of the Small Business Health Care Tax Credit on Estimated Tax Payments
The new health reform law gives a tax credit to certain small employers that provide health care coverage to their employees, effective with tax years beginning in 2010. Over several weeks, Vision...
Claiming the Small Business Health Care Tax Credit Without Taxable Income for Tax-Exempt Employers
The new health reform law gives a tax credit to certain small employers that provide health care coverage to their employees, effective with tax years beginning in 2010. Over the next several weeks,...
Question of the Week: Are Health Insurance Costs Required To Be Reported on Form W-2?
This week’s question comes from Beverly, a small-business owner. We pay health insurance costs for our employees. I heard there was a change in reporting health insurance costs under the new law....
