California Payroll Report articles from September 2004

California Payroll Report archives from September 2004

SIFL rates for employee flights are on the rise.(Standard Industry Fare Level)(Brief Article)
September 21, 2004... Twice a year, the IRS announces the SIFL (Standard Industry Fare Level) rates that you can use to value employees' personal flights on company aircraft. The value of this fringe benefit is included and taxed as additional income to the...

New Form 941 Schedule D will clear post-M&A tax discrepancies.
September 21, 2004... The IRS is issuing a new schedule that will make it easier for taxpayers to provide the IRS with information about employment tax discrepancies created by an acquisition, statutory merger, or consolidation. Once approved, the new Form 941...

Employees' time spent on call can generate unexpected payroll costs.
September 21, 2004... With pagers, cell phones, and laptops with e-mail access common accessories these days, many companies have to deal with the question of whether they must pay employees for time spent "on call." For many employers, such devices (whether...

States specify how often employees must be paid.
September 21, 2004... Neither the IRS nor the Fair Labor Standards Act (FLSA) mandates how often an employer must pay employees, or how soon employees must be paid after performing services. But that doesn't mean employers (or payroll managers) are free to set...

Tax-exempt tribes are still subject to employment taxes and information reporting rules.
September 21, 2004... Cash is cash. That's the payroll manager's mantra. When employees are paid for work performed, you know you must report those wages and withhold and pay the applicable income and employment taxes. And when non-employees (aka independent...

Are more changes in store for Form 941?
September 21, 2004... Late this summer, the Office of the National Taxpayer Advocate (NTA) presented its annual report to Congress. The report included detailed updates on completed and ongoing initiatives, along with the agency's objectives for fiscal year 2005...

Final regs reduce barriers for deemed IRAs.(Individual Retirement Accounts)(Brief Article)
September 7, 2004... The IRS has finally issued temporary and final regulations on "deemed IRAs," the new option for employer retirement plans that was created by the Economic Growth and Tax Relief Reconciliation Act of 2001. Technically, deemed IRAs (separate...

IRS sets its sights on exec. compensation in tax-exempt organizations.(Internal Revenue Service)
September 7, 2004... Over the next several months, thousands of public charities and private foundations will be getting a call, a letter, or a visit from the IRS. This newfound attention is part of the IRS's new Tax Exempt Compensation Enforcement Project to...

Update: SUTA dumping bill signed into law.(State Unemployment Tax Act)(Brief Article)
September 7, 2004... Last month, we reported that HR 3463, the State Unemployment Tax Act (SUTA) Dumping Prevention Act, had passed its first Congressional hurdle. Since then, the Senate has approved the bill and President Bush has signed it into law (P.L...

Special accounting rule for noncash fringes has benefits for employees and employers.
September 7, 2004... It won't be long now. The "Back-to-School Sale" signs in the mall have come down, the Halloween decorations have gone up... and before you know it, retailers will try to accelerate the winter holiday shopping season and lure bargain hunters...

Employer-provided scholarships and grants may not be subject to withholding.(educational assistance plans)
September 7, 2004... Employer reimbursements for employee's job-related course tuition or under educational assistance plans (EAPs) are the two most common forms of educational assistance benefits. But other options are available. Two benefit programs may be...

State-required minimum paid rest periods.
September 7, 2004... Last month, we pointed out the payroll and timekeeping implications of state laws mandating meal periods for employees, depending on the length of the work shift. These meal periods are to be considered unpaid time--unless the employee works...

OCSE releases revised child support income withholding order.(Office of Child Support Enforcement)
September 7, 2004... The federal Office of Child Support Enforcement (OCSE) recently released the long-awaited second revision of its standardized Order/Notice to Withhold Income for Child Support. Since the new form can be used immediately, you will want to...