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Archive for December, 2015

IRS Extends Employer Mandate Reporting Deadlines

After considering feedback from private sector businesses and insurers, the IRS has extended the deadlines for reporting 2015 information under the Affordable Care Act. Employers now have until March 31 (previously February 1) to provide employees with their Form 1095-C or Form 1095-B. Additionally, the deadlines for employers to report offers of health coverage to the IRS (Forms 1094-B, 1094-C, 1095-B, and 1095-C) have been extended by three months: The deadline for paper filing (available only to employers submitting fewer than 250 1095-Cs) is now May 31. The deadline for electronic filing (available to all employers) is now June 30. Again, the deadline extensions apply only to this yea

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Federal Contractor Minimum Wage Increase

The minimum wage for federal contractors will increase to $10.15 per hour as of January 1, 2016. The wage requirement applies to new and replacement contracts (solicited on or after January 1, 2015) with employers covered by the Service Contract Act or any employer who handles concessions and services in connection with Federal property or lands. We recommend that employers review the pay rates of their employees and plan any changes necessary to comply with the rate increase. Also of note for federal contractors: starting this January, employers with federal contracts entered into or modified after January 11, 2016 and totaling more than $10,000 may not discharge or in any other manner dis

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Trends With Staying Power In HR Outsourcing Companies In Wisconsin

Hot 2015 Trends With Staying Power In HR Outsourcing Companies In Wisconsin Operating a business means that you already know firsthand that constant change is simply part of the corporate landscape. This proves especially true in HR outsourcing companies in Wisconsin. In order to ensure your business remains competent, compliant, and relevant, you must always be looking ahead on ways to include changes and trends into your HR department. While there will always be "hot" new trends in any fiscal year, some show signs of having impressive staying power. When looking at the latest HR trends in 2015 to include in your corporate execution, you may what to consider: HR Outsourcing Companies Wisco

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Checking in on the Proposed White Collar Overtime Rule Changes

Content: The proposed changes to the white collar exemptions of the Fair Labor Standards Act (FLSA) are looming large in the minds of many employers. These rules, proposed in June 2015 and expected to be finalized sometime in 2016, would more than double the salary threshold for workers otherwise eligible for a white collar exemption from minimum wage and overtime requirements under the FLSA. What do we know and what are we still waiting to find out about? We know that if the final rules adopt the salary level of the proposed rules (of about $50,440 per year), employers could lose the exemption from the FLSA wage requirements for almost five million currently exempt workers who would then

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Reminder: Affordable Care Act 2016 Changes

Under the Affordable Care Act, there are several changes for large employers (100+ full time equivalent employees) and mid-sized employers (50-99 full time equivalent employees) coming in 2016. Here are the major ones to be aware of: Employer Mandate Reporting Begins (Section 6056 Reporting) – Beginning in the 2015 tax year, all mid-sized and large employers are required to perform Section 6056 reporting. Just like W-2s, copies of the forms must be provided to employees by January 31st and filed with the IRS by February 28th (paper) or by March 31st (electronic). The first reporting will take place early in 2016. Mid-Sized Employer Transitional Relief Expires – In 2015, there was some

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Lower gas prices nationwide results in lower mileage reimbursement rates

Business mileage rates--how much you can deduct if you use a car for business purposes--are dropping for 2016. The IRS announced on Thursday the standard mileage rates for taxpayers to use in calculating the deductible costs of using a car for business, charitable, medical or moving purposes: * Business use: 54 cents per mile (compared with 57.5 cents in 2015) * Medical or moving purposes: 19 cents per mile (down from 23 cents for 2015) The rate for service to a charitable organization is set by statute and has been fixed at 14 cents a mile since 1997. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. The

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Advantages Of Human Resources Outsourcing

Human Resources Outsourcing: Leave Your Worries To Us Are you struggling to keep up with your many and seemingly ever-increasing HR tasks and responsibilities? You do not have to. Here at The Payroll Company, we offer a comprehensive portfolio of professional human resources outsourcing capabilities to our partners. Benefits Of Using The Payroll Company For Human Resources Capabilities Why should you consider using The Payroll Company for Human Resources outsourcing? Using our HR solutions offers the following to businesses of any size: Compliance First and foremost, using us for Human Resources outsourcing means that your organization will remain compliant with all local and Federal emplo

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