Payroll Today

Yesterday evening, President-elect Biden released an outline of his covid-19 recovery plan. Other important stuff happened this week, too.
Employees’ W-2s will be mailed or delivered electronically shortly. As predictable as this is, also predictable are employees’ questions about box entries. And there may be even more questions, once work-from-home employees see the entries in Boxes 16 and 17, the state wages/withholding box.
If employees work from home, how are you supposed to fulfill the requirement to post notices required by federal workplace laws? This is only one problematic reality of the shift to remote work.
This week, the Small Business Administration is authorizing lenders to begin accepting applications for new first-draw and second-draw loans under the Paycheck Protection Program. The SBA has released two sets of interim final regulations and a new second-draw loan application. Here are highlights.
Employees who work from home and do errands don’t have to be paid for the time, the Department of Labor has concluded in a new opinion letter.
Updates on Form 1099-NEC, I-9 flexibility, the DOL’s independent contractor regs, and more.
If you opted for the lease valuation method to value employees’ personal use of a car, you may have overvalued it for 2020 if they didn’t drive as much as usual.
By now, we know pandemic-related federal mandatory paid sick/family leave expired at the end of December and you can allow employees to run out their accrued leave through March 31. If you do, you can take a payroll tax credit on your first-quarter Form 941. Is it that easy? Maybe not.
A recurring question for public employers is whether they have to report in Box 14 if their employees took paid sick/family leave last year.
To begin 2021, employees of course get W-2s and independent contractors get 1099-NECs. But it may not be so simple, especially if you experienced a reduction in force last year and needed to retain the services of some key employees.