Payroll Today

When you take a day off, Congress takes a week off; when you take a week off, Congress takes a month off. Nice to be them, huh? And they don’t worry about the work left behind. Well, Congress is on its month-long get-out-of-DC-because-it’s-too-uncomfortable recess. And they’ve left a pile of payroll-related work to do when they get back, after they take a week off for Labor Day, of course.

At last count, 23 states, plus the District of Columbia, allow medical marijuana; four states, including Colorado and Washington, allow recreational use. So pot is big business and growing all the time. Problem: While all businesses must deposit their payroll taxes electronically, banks don’t allow pot-related businesses to open accounts, because pot is still a Schedule 1 controlled substance. This basically guarantees failure-to-deposit penalties.

Now that you’ve had some time to mull over the Department of Labor’s (DOL) proposed regulations that increase the salary level employees must earn to be exempt under the Fair Labor Standards Act, it’s time to chime in. As part of this rulemaking project, the DOL is soliciting comments on a wide range of subjects covering exempts. You have until Sept. 4 to comment.

The end of July means quarterly filing deadlines with the IRS. In addition, the federal Office of Child Support Enforcement’s (OCSE) grace period for the new Income Withholding Order, or IWO for short, will run out on July 31.

Everyone makes mistakes. But some mistakes are more costly than others. On Aug. 3, penalties leap from $30 to $100 per form, up to $1.5 million, for these W-2 errors: failing to file 2014 W-2s in the first place or filing incorrect 2014 W-2s that you haven’t yet corrected.

There are two core problems with 401(k) plans: getting enough employees enrolled and helping retirees to not outlive their retirement savings. Lots of government agencies are looking into these issues right now.

Summer means hurricanes, tropical storms and flooding. So you don’t become tropically depressed this summer, it pays to review some of the rules of the workplace wage and hour road.

The Supreme Court of the United States has ruled that the Equal Protection Clause of the 14th Amendment guarantees same-sex couples a fundamental right to marry, state laws to the contrary notwithstanding, and to have their marriages recognized by all the states.

The Supreme Court of the United States has ruled that premium tax credits are available to all qualified individuals, regardless of whether they buy health insurance through a state or federal exchange. The ruling leaves intact the employer free-rider penalties in the 34 states that have not established state exchanges. The case is King v. Burwell, No.  12-114.

Here’s your worst case scenario—you think you’re entitled to a tax refund, but you don’t know the exact amount because you’re waiting for a lawsuit against the IRS to be resolved, and the time for filing for that refund claim is quickly running out.