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New Law Modernizes IRS, Updates Payroll Rules

The IRS gets a bad rap for being behind the times. Between its reliance on paper forms and complicated acronyms (1040-EZ, anyone?), you would be forgiven for not associating the agency with the state-of-the-art.

With a new law, the agency is looking to change that perception. The Taxpayer First Act, signed by President Trump earlier this month, goes a long way in modernizing the IRS’s approach to cybersecurity and some longstanding payroll forms. Below, we’ve summed up the changes most applicable to HR and payroll professionals.

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Texas Lawmakers Pass Sweeping 'Paycard' Law

When it comes to payday, employees aren’t typically used to being asked “paper or plastic?” With a law set to take effect on September 1, 2019, Texas is set to join the growing list of states that allow employers to pay their workers via “paycards” by default.

Below, we’ll detail the sometimes controversial payment method and what the new law specifically entails for Lone Star businesses and their employees.  

Form W-4

IRS Releases New Draft Form W-4

Even a federal agency like the IRS needs a “do-over” sometimes. With a recently released (and rewritten) draft Form W-4, the agency is asking HR and payroll teams for a second chance—and a second opinion.

On May 31, the agency published a new draft Form W-4, or Employee’s Withholding Allowance Certificate. The form, which tells HR teams how much to withhold from employees’ paychecks, is a longstanding part of the new hire onboarding process. Once finalized, new hires starting after January 1, 2020 and current employees looking to change their withholdings will need to use the new version.

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3 Payroll Lessons From Fyre Festival

Everyone knows about the ill-fated Fyre Festival. Simply put, it was supposed to be a massive festival in the Bahamas and the experience of a lifetime. Ticket holders would get the opportunity to sip margaritas and hit the pool with celebrities, supermodels, and artists. Long story short, none of that ever happened. People spent (and lost) a lot of money for what turned out to be a living nightmare. Seriously, look up the stories.

But before people arrived on the island to see their dreams dashed upon the Bahamian coast, festival staff had an inkling into the issues that would arise. How, might you ask? Payroll.

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New Washington D.C. Law Requires Companies to Outsource Payroll

A generous serving of compliance requirements is set to hit Washington D.C. businesses in the food service and hospitality industries.

Passed by the District of Columbia Council in 2018, the Tipped Wage Workers Fairness Amendment Act will soon impose a slew of training and reporting requirements for businesses with tipped workers. In an effort to help ensure compliance with the regulation, the District will require most of these businesses to outsource payroll.

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How to Change Pay Frequencies

As companies grow, there are plenty of reasons to change from semimonthly to biweekly payroll frequencies, or weekly to monthly, or any combination of the above. Regardless of the prevalence of these changes, switching pay frequencies involves a lot more than just the flip of a switch.
 

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DOL's New Overtime Rules Leaked

Unlike your HR team, the nation’s capital isn’t known for keeping secrets—but according to a recent report, the latest “leak” in Washington might pique their interest.

Since 2016, HR and payroll professionals alike have braced themselves for significant changes to the rules governing overtime pay. After years of political and courtroom intrigue, the Department of Labor (DOL) is reportedly ready to make its long-awaited move.

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Payroll and Daylight Saving Time

The weekend feels short enough as it is. If you can believe it, this upcoming one will seem even shorter for most of us.

This weekend marks the return of daylight saving time. With it, we will enjoy nearly eight months of additional daylight—meaning you'll soon end your workday with some sun to spare. Like every spring, you'll set your clock ahead one hour this Sunday. But what happens if you have an hourly employee working at that time? How does your payroll team account for the time shift?

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How Salary Ranges Can Support Business Growth

If you’re nearing the 50 employee threshold, it’s time to consider implementing salary ranges. Salary ranges are the essential guardrails that help you decide how much you’re willing to pay for new hires and how you plan to reward existing talent—all while keeping your goals and budget in check.

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New Jersey Approves New $15 Minimum Wage

With the stroke of a pen, New Jersey Governor Phil Murphy may have just given thousands of state workers a raise.

On Monday, the governor signed legislation (A-15) that will gradually increase New Jersey's minimum wage to $15 per hour. The measure, which sailed through the state’s Democrat-controlled legislature, now makes New Jersey the third-largest state to enact such an increase. New York and California approved $15 minimum wages in 2016.