Payroll tax scam resurfaces this tax season
Tax season is heating up and so are scams. The scams take different shape, but are all after one thing: Your money. The IRS and state tax agencies recently issued a warning about a W-2 email phishing scam that is becoming common for this time of year. The W-2 scam first appeared last year when […]
Georgia employers offered tax credit for hiring parolees
Employers in Georgia have an opportunity to take advantage of a temporary tax credit if they hire individuals who have recently been granted parole. According to the state law, O.C.G.A. Section 48-7-40.31, employers who hire qualified parolees in a full-time job for at least 40 weeks during a 12-month period are eligible for an income […]
Don’t be a victim of payroll service fraud
Payroll service providers are useful for just about any business owner who wants to ensure that filing deadlines and deposit requirements are met. They certainly can streamline business operations – if the right one is used. We recommend using a payroll service provider, but not all providers are created equal. The first thing to remember […]
Holiday bonus reminders
Many employers offer their employees bonuses and extra time off for the year-end holidays. Here are a couple reminders to keep in mind during this season: End-of-year or holiday bonuses should be included in payroll and reported as taxable compensation. The Fair Labor Standards Act doesn’t mandate that employees be paid for holidays. However, if […]
Remember To Update Unemployment Rate
Don’t forget to check your state unemployment rate and update your payroll service if there is a change. The payroll service will continue to use the old rate unless otherwise notified. States generally do not automatically refund the excess, so be sure your payroll provider prepares 2016 returns using your updated rate.
Don’t get flagged — file tax statements on time or face stiff penalties
A new federal tax law aimed primarily at foreign competition – the Trade Preference Ace of 2015 – contains some hidden and increased penalties for domestic businesses that fail to file tax returns with the IRS on time or who don’t provide the required statements to those they have paid throughout the year. The increase […]