This week’s question comes from Felix, a payroll manager: I have an employee who worked 34 hours last week. Since we pay eight hours for Independence Day even though we don’t work, do I need to pay two hours of overtime? Answer: Nothing in the Fair Labor Standards Act...
Wal-Mart Inc. was ordered to pay more than $6.5 million in compensatory damages to current and former employees who worked in Minnesota. In Nancy Braun, et al. v. Wal-Mart, Inc., et al., No. 19-CO-01-9790, Minn. Dist., Dakota Co., Wal-Mart was found to have committed...
Did you know that you can import your payroll data directly into QuickBooks®, Peachtree®, or other accounting software? Save time and avoid data entry errors through our streamlined payroll import. We work with your accountant or bookkeeper to setup the import and...
The IRS recently released Notice 2008-62 which states that teachers who receive pay over a 12-month period will generally not be subject to §409A. Technically, teachers who only work for 9 or 10 months but are paid over a 12-month schedule have deferred compensation...
The US District Court for the Southern District of New York has upheld payroll tax penalties on a company owned by actor Joe Pesci even though the taxes were timely paid. The IRS assessed the penalties because the company did not pay the taxes electronically as...
The Massachusetts Department of Revenue (DOR) has clarified its position on the deductibility of 401(k) contributions. In Income Tax Directive 08-3, effective for 2008 and later years, the DOR denied deductions for 401(k) contributions for partners and self-employed...
The standard mileage rates for the use of automobiles beginning July 1, 2008 will be 58.5 cents per mile for business miles driven and 27 cents per mile driven for medical or moving purposes, the Internal Revenue Service announced June 23 (IR-2008-82; Announcement...
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