Payroll And The Gig Economy In 2022

The gig economy differs from the world of traditional full-time jobs that consist of the basic 9 to 5 schedule to employees who prefer temporary and flexible jobs. Gig workers are individuals who pursue these types of jobs, often applying for a temporary independent contractor or freelance position. Many of these employees prefer to work on their own flexible schedules in various environments.

New Information From The DOL And The IRS Regarding Paying Employees With Cryptocurrency

Earlier this year, the U.S. Department of Labor’s (DOL) Office of Public Affairs officially responded to whether employers could pay employee wages in cryptocurrencies. The DOL explained that regulations under the Fair Labor Standards Act (FLSA) provide that wage payments may be made in cash or negotiable instruments (payable at par). In cryptocurrency, employers cannot make base wages (salaries or minimum wages) or overtime pay. Paying bonuses and other incentive payments in cryptocurrency is a…

What You Need To Know About Paycards

To build efficiencies in the payroll process by eliminating paper checks, employers have used direct deposit since the mid-'70s. This effort to eliminate paper checks was always limited because many employees had no bank accounts. Since ATMs appeared, the ability to pay employees via a paycard has slowly become available.

What Is A Certified Payroll Report?

Certified payroll is a special weekly payroll report using Form WH-347 that contractors who are working on projects that are government-funded. Employers are required to complete and submit these reports to prove they are paying workers the prevailing wage. Many states and city governments have adopted the certified payroll requirement to assure contractors are paying an appropriate wage to their workers.

941 And Other Payroll Related Changes Or Q2 2022

What you need to know about the proposed changes to Form 941 for second-quarter payroll tax reporting and payment. The published deadline to submit and certify the 2021 EEO-1 Component 1 Report(s) has been extended to Tuesday, June 21, 2022. The 2022 Utah Legislature lowered the state individual income tax rate from 4.95 percent to 4.85 percent. All unused vacation time accrued pursuant to an employer’s vacation policy in Maine after January 1, 2023, must be paid to the employee on termination.