Advice

Stuffed? Instead of cramming year-end duties into December, you’ll find the going considerably smoother if you pace yourself. Here are some key tasks you can do now.

On Labor Day, President Obama signed the latest in a string of executive orders applicable to employers that contract with the federal government. Executive Order 13706 will permit certain employees working on federal contracts to earn at least one hour of paid sick leave for every 30 hours worked. According to a White House fact sheet, the new paid leave mandate will affect approximately 300,000 workers … and imposes substantial new obligations on many employers.

The closest office managers usually get to Payroll are their own paychecks. But beware. A federal trial court has ruled that an office manager was personally liable for 100% of her company’s undeposited payroll taxes, to the tune of $2.9 million.
First, the Department of Health and Human Services created a minimum value calculator that omitted inpatient hospitalization services. Oops. Then, the IRS issued guidance that concluded that in order to provide minimum value, group health plans must cover substantial inpatient hospitalization and physician services, or both. Proposed regulations were promised, which the IRS has now released. The regs also provide a detailed effective date.
The IRS has released the final 2015 health care information reporting forms, Forms 1095-C/1095-B; the transmittals, Forms 1094-C/1094-B; and the instructions. The IRS has also issued a notice that cuts some slack to self-insured employers that don’t have employees’ dependents’ Social Security numbers by the time they need to complete Forms 1095-C/1095-B.
If you think you’re going to breeze through a wage and hour investigation, think again. Success is all in the preparation.

Found: One hour on Nov. 1

October 15, 2015

Don’t forget to turn your clocks back one hour to standard time at 2:00 a.m., Sunday, Nov. 1.
The IRS’ Collections division is piloting an initiative, called the Early Interaction Initiative, under which a revenue officer will make early contact with employers that may be falling behind in their payroll tax deposits.
Changing the due dates for C corps, S corps and partnerships to file business tax returns is included as a revenue-raising measure in the Surface Trans­­por­­ta­­tion and Veterans Health Care Choice Improve­­ment Act of 2015.
Under proposed, temporary and final regulations, you no longer will be able to request an initial automatic 30-day extension of time to file Forms W-2/W-3 with the Social Security Administration or an additional for-cause 30-day extension, for a total of 60 days.