Prepare for Another Different Year-End Experience
If you are a payroll veteran, you likely already know what you are facing based on last year’s atypical year-end. If you are new to payroll, you might not be aware that things are usually more predictable. Either way, the pandemic continues to leave its mark on the legions of payroll professionals who really just…
Your 2020 COVID Payroll Year-End Checklist
With December comes the reality that many 2020-specific rules, relief and deferrals expire at the end of the month. This means vigilance is required of payroll professionals in reviewing and re-reviewing checklists and preparing for changes that literally happen overnight on December 31st. Ana Woods-Hill, CPP, Manager of Managed Payroll with Wise Consulting, prepared a…
ACA and Year-End Considerations You Need to Review
With so many rules and regulations swirling around regarding ACA processing, year-end tasks and FFCRA limits, it’s important to review tasks and issues with a fine-tooth comb. That’s why the Wise team put together year-end and Affordable Care Act (ACA) notes to help keep you informed and compliant as 2020 comes to a close. Some Year-End…
Be Aware of FFCRA & CARES Limits
The COVID-response acts are meant to help employers and employees during an unusually difficult year. It is important for employers to understand both the opportunities and the limitations of these acts. As we roll into the fourth quarter of 2020, revisiting the limits might help with reconciliation, balancing and compliance. FFCRA Limits: Personal Sick…
A Year-End COVID Watch List
While this list is far from comprehensive, hopefully it will highlight some of the different considerations COVID legislation has brought to year-end as well as some sound suggestions. Wise payroll professionals are working with clients to save them money, help them claim back money in the form of FFCRA and CARES credits, remain compliant on…
Are you Ready for Year-End?
If year-end isn’t on your radar as September 2020 rolls in, it would be a good idea to move it up the priority list. As eager as most of us are to see 2020 depart, we must first manage a more-complex-than-usual year-end. Wise Tax Compliance Manager, Lynn Lauricella, CPP, reports that her team is preparing…
Tax 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…
COVID 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…
Achieving 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…
You Could be Eligible for More COVID Credits Than you Think
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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