Payroll & Tax Support
Recent Payroll Tax Deferral Order Offers More Uncertainty
Employees need to understand that bigger paychecks for the remainder of 2020 will result in smaller ones in 2021 when, at least for now, they will be required to pay back the deferred payroll taxes. A possible decision to forgive the deferred amounts is far from assured, leaving employers wondering what will truly be gained from opting…
Read MoreCelebrating Payroll Professionals for Persevering Through the Pandemic
As we roll on from National Payroll Week, we hope you continue to celebrate the amazing payroll professionals who have bravely battled their way through over six months of complex COVID-response legislation, COVID Act claims tracking, changing IRS forms, and who knows what next? With three and a half more months and a daunting year-end…
Read MoreTax Jurisdiction Registration – A Necessary Evil
With year-end approaching (hello, September!) in a year that has been riddled with irregularities, getting ducks lined up is imperative. This includes completing vital tasks such as tax jurisdiction registration. It’s not always fast or easy, but you can’t complete W-2’s without those pesky withholding account numbers. Here, the Wise tax team shares some things…
Read MoreCOVID Considerations for Open Enrollment
Nothing is going untouched by the pandemic in 2020, open enrollment included. Much of the impact will be unique to each organization based on their experience of navigating the past four months of COVID-19 issues. Not all industries have been challenged in the same ways, not all employee populations have suffered the same rates of…
Read MoreAchieving a Smooth Open Enrollment For Your Business
“Begin with the end in mind,” suggests Wise Consultant Janice Burnett, CPP, PHR. “When is your vendor expecting to get an open enrollment file from you? What is the drop-dead date? Take that date and work back from there.” Janice estimates that 10-14 weeks before your vendor expects your file is when you should begin…
Read MoreHow COVID is Changing Payroll and Year-End
How bad will 2020 year-end be for people who are not preparing now? “It’s going to be bad,” predicts Cory Makle, FPC, Client Payroll Specialist with Wise. “Because of everything that’s going on, starting now is a good idea. If you’re not looking up until later, you are going to have problems. You definitely have…
Read MoreOur New 941 Tracker Tool – Wise Innovation that Benefits You
You may know by now that the IRS has revised Form 941 in response to the FFCRA and CARES Acts that were put into effect earlier this year. Even employers with third-party tax support will have to take a more active role in validating and ensuring the accuracy of the data in this unprecedented year…
Read MoreA Look at the Paycheck Protection Program (PPP)
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…
Read MoreFFCRA and CARES are In Effect…What’s Next?
These unprecedented times are calling for difficult business decisions. Companies of all sizes are performing critical analysis in order to maximize budgets to retain staff, attempt to take advantage of government relief, and maintain employee pay and benefits. Wise payroll managers have compiled a list of considerations to help you ask essential questions and examine…
Read MorePrepare for Fluctuating Garnishments
How is the Pandemic Affecting Garnishments? While the COVID-19 pandemic has placed a temporary hold on federally-funded student loans, at some point these wage garnishments, and the necessity of processing them, will resume. Additionally, with courts currently not in session, many standard proceedings that result in orders have ceased. When it’s business as usual, the…
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