The IRS updated the forms to reflect the expiration of COVID-19-related relief provisions at the end of 2021. Form 941 retains lines to claim tax credits for qualified leave wages paid in 2022 for leave taken in 2021. Similarly, some employers may be eligible to claim the COBRA premium assistance credit for the first quarter of 2022.
Important State and Federal Withholding, Dependent Care, HSA, And Other Changes For 2022
While We Don’t Know All The Changes That We’ll See To Payroll in 2022 - Here Is What We Know So Far! Changes already released this year include: State Unemployment Wage Bases; Social Security Wage Base; Medicare Tax; Dependent Care Limits; Limits To Health Savings Accounts & Health Flexible Spending Accounts; IRA and 401K Contribution Limits; Updated Federal Standard Mileage Rate.
What You Need To Know About Paying Employees Using Cryptocurrency
Employers interested in offering wage payments in cryptocurrency should be aware of and comply with applicable withholding, wage and hour, and wage payment requirements at the Federal and State levels. Although employers can not currently pay employee’s base salaries, hourly pay, and overtime pay in the U.S. they may offer bonuses or incentive payments in cryptocurrency. Additionally, employers can use a third-party cryptocurrency payment processing company (e.g., Bitpay) or conversion service r…
How To Access Corrections For W-2/1099/1095
With year-end filing wrapping up, many businesses will face corrections to W-2s, 1099s, and 1095s already filed. The Aatrix knowledgebase provides the opportunity to search our articles for some of the most common questions, answers, and troubleshooting methods. Here are step-by-step instructions on filing your corrections.
Log4J Zero-Day Vulnerability
Log4J Zero-Day Vulnerability On Friday, December 10, 2021, the world found out about vulnerability CVE-2021-44228 in the Log4J Java component. That component is commonly installed on Web servers and Java application-based systems and servers to log or write system messages and other messages to the computer. This particular vulnerability has been rated a 10.0 out of 10.0 regarding the dangerous abilities that this vulnerability poses to computer systems and its ease of being exploited.
2022 IRS Form 941 Deposit Rules and Schedule
There are two deposit schedules (monthly or semiweekly) for determining when you deposit Social Security and Medicare taxes and withheld Federal income tax. These schedules tell you when a deposit is due after a tax liability arises (for example, when you have a payday). Before the beginning of each calendar year, you must determine which of the two deposit schedules you must use. The deposit schedule you use is based on the total tax liability you reported during a look-back period. Your deposi…
5 Things You Need To Know About Forms, Legislation and Compliance Requirements
Important News Regarding New Forms, New Legislation, And New Compliance Requirements - IRS Rules Lower W2 Electronic Filing Threshold - General Instructions for 2022 W-4 For Employees - Employee Retention Credit Ends Early - New Employee Withholding Certificate for 2022 For Colorado - Illinois Labor Department Issues Press Release on Pay Data Reporting
2021 Year-End Payroll Reporting Deadline Dates
Aatrix W-2/1099 Year-End eFile Deadlines Year-end is here and to guarantee timely filing and avoid fines and penalties associated with late filings, it is critical to know the deadline for each year-end report you are required to file. The following deadlines are the dates your files must be received by Aatrix to guarantee on-time filing to each State or Federal agency involved.
Do You Have Multiple EINs? Batch eFiling Is Available For Large Volume EIN Filers.
Our Batch eFile option ($99.00/annually) is incredibly helpful if you are responsible for eFiling multiple Federal EINs and especially if those EINs contain small numbers of employees.
Looking For A Recruiting Edge? Maybe Your Payroll Needs A Makeover.
The labor shortage in the US continues to be a significant challenge for most businesses as we recover from the pandemic and settle into the new reality. The Chamber of Commerce recently released a report that stated that 90% of businesses say it's difficult or very difficult to find workers right now. As of the October jobs report, job openings reached a high of 10.44 million. Nation-wide restaurant and retail traffic is up 52% since January, and many businesses are reducing hours because o…
