Payroll Today

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Proposed regulations to be published in the Sept. 20, 2017, issue of the Federal Register would make good on 2015 legislation that allows you to truncate employees’ Social Security numbers (SSNs) on their copies of W-2s. Truncated SSNs will be called TTINs. It’s not as easy as it seems …

Every time the IRS redesigns its website, it gets just that much more boring. Its original website had cool cartoons, which injected a little bit of humor—and goodness knows, humor and taxes don’t normally run together. Leaving aside the stock photos of smiling taxpayers (something else that doesn’t normally run together), the second iteration’s home page was busy, but merely boring. And now we have the third iteration, which, the IRS says, is more suited to mobile platforms …

This week is National Payroll Week—the week everyone, from the IRS to the C-suite to every child in need of child support, should give Payroll one big “Thank You!” In honor of National Payroll Week, we’ve gathered some graphics that demonstrate Payroll is the key player in funding the government and other areas, too.

On Aug. 30, the IRS announced that it is relaxing many procedural rules that apply to employees affected by Hurricane Harvey who need to take hardship distributions or loans from their 401(k) plans.

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The ACA is alive and well

August 22, 2017

Reports of the Affordable Care Act’s demise were premature, at least as far as the IRS is concerned. It has released two information letters related to enforcement of the ACA’s employer play-or-pay provisions and a revenue procedure that provides information on the individual responsibility payment.

I know tons of people take vacation in August, because it becomes so much easier to drive around my neighborhood. Sweet! You should use this quiet time in the office to reach out to employees and suggest that they check their withholding for the remainder of the year …

Both houses of Congress are taking their traditional August break now. They need a vacation. What’s waiting for them when they return after Labor Day? Well, let’s take a look at two big-ticket items …

The Trump administration would like to know what you think is the most important thing the Department of Labor should consider as it goes about rewriting the Obama administration’s 2016 regulations that would have raised the amount employees must earn to be exempt from minimum wage and overtime requirements. It’s not an idle question. The Trump administration has taken the first step to rewrite those regs by issuing a Request for Information, in which it is soliciting comments and ideas from the public.

The IRS has pinpointed some new examples of electronic cons known as spear phishing. Don’t take the bait.
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