Whether you pay your employees weekly, biweekly, monthly, or semimonthly, odds are your company’s scheduled payday might land on a bank holiday or weekend sooner or later. Should that happen, don’t panic—you have options. We’ll break down all the payroll holiday rules below so you can navigate holiday and weekend paydays with ease.
New York-area airport workers will soon have the highest minimum wage in the country. The increase will raise the minimum hourly rate for almost 40,000 airport workers to $19 by 2023.
Each year, Americans dutifully complete their annual tax returns to report what’s been paid to the federal government and what might still be owed. Your HR and payroll teams also have their own IRS filing obligations. Employee paychecks are subject to federal income taxes, Medicare, Social Security, and other withholdings.
While companies typically pay these federal taxes on a semiweekly or monthly basis, the IRS still needs a full account of what’s been paid. Enter the Form 941, or the Employer’s Quarterly Tax Return. If it isn’t already, a reminder to complete the four-page form should be on your HR calendar.
Score another win for the "Fight for $15" movement. Online mega-retailer Amazon delivered welcome news to employees last week, announcing that it would increase its minimum wage to $15 per hour. The change takes effect next month and applies to the company's more than 350,000 full-time, part-time, and seasonal employees. Whole Foods, the upscale grocery chain owned by Amazon, will also be subject to the change.
Call it a case of legislative déjà vu. A potential follow-up to 2017’s historic Tax Cuts and Jobs Act (TCJA) could throw HR and payroll professionals for a loop later this year.
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Many HR professionals fall into HR because they care deeply about making workplaces better. Day in and day out, HR teams focus their time and energy on ways to improve the employee experience. They spend a significant amount of time training managers how to hire candidates, coach employees, and evaluate performance in a manner that removes biases in pay raises and ensures a fair experience to all employees.
The most exciting part of the payroll industry is that it’s always changing. New tax rates, regulations, and even court rulings can affect how employees get paid. Recently, the Supreme Court decided the case of Janus v. American Federation of State, County, and Municipal Employees (AFSCME). The result of the decision is that public-sector unions can no longer mandate the collection of agency fees from non-member employees.
The field of human resources is changing. In our HR Redefined series, we give innovators a medium to share personal reflections, professional advice, and best practice guidance.