What Potential Payroll Changes are Expected in 2021?

Posted by Christy Putnam on December 1, 2020 at 4:18 PM

With a new year come a lot of new changes and updates to payroll requirements. 2021 is quickly approaching, so - as in past years - we compiled the following list of items that may initiate some payroll changes in your organization. You might start thinking about these now and take action sooner than later.

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Topics: Payroll, Taxes

Fall Fun with the FFCRA

Posted by Christy Putnam on October 8, 2020 at 2:32 PM

Here we are. The first of October. Does everyone know what that means? Yes, it means the leaves are falling and changing colors, and the holidays are quickly approaching. Payroll/Accounting departments know what it means, too: it’s time, once again, for quarter end.

At the end of September, the IRS issued an updated Form 941 and instructions to be used beginning third quarter of 2020. The Form 941 has been revised to allow employers, who have elected to defer the withholding and payment of the employee share of social security tax on wages paid on or after September 1, 2020, to include the deferral on line 13b. The following additional guidance was also released on completing Line 16, to avoid failure-to-deposit penalties:

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Topics: Payroll, Taxes, Family Leave Acts, COVID-19

Executive Action: More Questions Than Answers for Payroll!

Posted by Christy Putnam on August 13, 2020 at 8:47 AM

On August 8, 2020, President Trump signed an executive action that postpones the collection of employee payroll taxes from September 1st through December 31st. This affects the Social Security FICA taxes. The idea behind taking this action is that, during these difficult economic times due to the COVID pandemic, deferring tax withholding has the potential to put more money in working Americans' pockets to help boost the economy. This action of the Executive Branch results from Congress being unable to arrive at a compromise regarding another round of stimulus assistance.

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Topics: Human Capital Management, Payroll, Taxes, COVID-19

Critical COVID-19 Information for Employers

Posted by Christy Putnam on July 21, 2020 at 11:53 AM

While the presence of the Coronavirus in the United States stretches into its fifth month, the pandemic continues to impact employers, their businesses, and their workers. Three of the latest developments are below.

As your business continues addressing these items, please remember that Bennett/Porter & Associates is here to continue supporting you, your employees, and your organization. We strive to keep you up-to-date on all the latest HR, payroll, and employer-related technology changes that impact your company. If you are not currently signed-up to receive our Blog posts, we encourage you to do so in order to avoid missing important updates such as these. Please don’t hesitate to reach out with any questions or technology needs you have.

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Topics: News Alert, Human Resources, Payroll, Family Leave Acts, COVID-19

Ready or Not, Here Comes July

Posted by Christy Putnam on June 8, 2020 at 1:31 PM

With everything that has happened this year, does anyone else feel like we are in some strange time warp? Anyone know what month it is? Oh that is right, it's June. Crazy to think that we are halfway through 2020 already! So July is just next month, and it brings with it some important deadlines and potential changes for payroll and accounting departments. Here are some critical dates in July that you don't want to lose track of.

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Topics: Payroll, HR Compliance, Taxes

Snippets from the Week

Posted by B/P News & Notes on April 17, 2020 at 11:27 AM

** This article was originally sent to our Bennett/Porter clients via email on 4/17/2020 **

It's Friday, and the end of another fast-changing week for businesses and their employees. To help you keep up with and respond to events that impact your business, we've put together some helpful notes and notifications.

CAT Tax Webinar

Figuring out how much you owe to the State of Oregon for the new Corporate Activity Tax is not straightforward. And every company who has revenue of more than $1,000,000 per year is required to make estimated tax payments for the new tax that Governor Brown mandated last summer. 

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Topics: Sage 100, Webinars, Payroll, Taxes, COVID-19

Clearing Up Confusion over CARES

Posted by Christy Putnam on April 14, 2020 at 9:09 AM

More help brings more questions and new confusion. On March 27, 2020, Congress passed a second round of economic stimulus in response to the COVID-19 pandemic: the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Some of the relief elements contained within this latest act include:

  • Paycheck Protection Program Loans
  • Additional Unemployment Benefits
  • Student Loan Payments Suspension
  • Funding for Hospitals, Airlines/Airports, and Food Assistance Programs
  • Government Checks to Individuals
  • Small Business Debt Relief
  • Economic Injury Disaster Loans & Emergency Economic Injury Grants

Here is a closer look at some key aspects.

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Topics: News Alert, Human Resources, Payroll, Taxes, COVID-19

COVID-19 Payroll Processing for Sage 100

Posted by Sue on April 9, 2020 at 8:32 AM

** This article was originally sent to our Bennett/Porter clients via email on 4/9/2020 **

There has been no shortage of information in the last couple of weeks regarding COVID-19 and the Federal mandate about paying employees who are sick with the virus, have been ordered to stay home to self-quarantine, or have a family member who is affected by the virus and who the employee must take care of. Despite all of the information, there are still many outstanding questions employers are encountering as they administer the processes around this mandate.

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Topics: Sage 100 Payroll, Sage 100, Sage Software, News Alert, Payroll, Taxes, COVID-19

Year End Updates for Sage 100 Payroll and Accounts Payable

Posted by B/P News & Notes on December 2, 2019 at 11:22 AM

On December 19th, Sage is scheduled to release an Interim Release Download (IRD) with year-end program updates for Accounts Payable and eFiling – as well as a Tax Table Update for 2020.

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Topics: Sage 100 Payroll, Sage 100, Sage Software, Year End, News Alert, Payroll

What potential payroll changes are expected in 2020?

Posted by Christy Putnam on November 22, 2019 at 9:02 AM

With a new year come a lot of new changes and updates to payroll requirements. 2020 is quickly approaching, so - as in the last few years - we compiled the following list of items that may initiate some payroll changes in your organization. You might start thinking about these and take action sooner than later.

Read More

Topics: Payroll

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