businessman filling out a tax form for year-end

At Wise, we are hearing from companies who either don’t think they can claim any payroll tax relief through the FFCRA and CARES Acts, or who are wondering if they should bother trying. Our tax team understands that it’s easy to feel overwhelmed because tracking payments and credits sounds like a lot of work on…

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two employees writing on a big notepad

While outsourcing an entire payroll process to experts works for many companies, what about when all you need is help with reporting, mass imports, garnishments, taxes or another payroll function? Particularly this year, with the various pandemic-response Acts, changes to forms and the vastly increased need for tracking, auditing and reconciliation, many companies are in…

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The Paycheck Protection Program (PPP) was created under the Coronavirus Aid, Relief, and Economic Securities (CARES) Act to provide relief to small businesses adversely impacted by the COVID-19 coronavirus pandemic. The plan to issue forgivable loans to businesses needing to make payroll in uncertain circumstances was intended to help businesses stay afloat while still paying…

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Payroll is complicated, confidential and constant. The business of maintaining detailed records and reports on behalf of employees is highly regulated. The IRS cares, and so does the U.S. Department of Labor. Its Fair Labor Standards Act (FLSA) has rigid rules regarding recordkeeping that must be followed, and which are different for exempt and nonexempt…

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Among the many tasks that payroll professionals cite as frustrating, staying up to speed on ever-changing government tax regulations and the cost of correcting mistakes or paying penalties for errors are at the top of the list. Add to that the relentless and cyclical nature of payroll–it has to go out accurately and on time,…

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There are times of year that your payroll department will be feeling the weight of their duties the most—many becoming utterly overwhelmed. Staffing in the payroll world is typically “just enough to get by.” And with the highly specialized work they do, most companies don’t have many outside teams that can pitch in and help…

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Companies can put themselves in a dangerous situation if they don’t have enough resources to support their Payroll function. Even in large or mid-sized organizations, the Payroll department is often fairly small—with some companies having only one or two people to handle everything. With these limited resources, Payroll is susceptible to a number of problems…

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The specifics of payroll taxes can be difficult to understand, and mistakes can result in consequences like frustrating late fees and accrued interest. In order to avoid these pesky penalties, it is essential to have a basic understanding of payroll taxes, what they are used for and what types of penalties can occur if you…

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