Quick Reference to Payroll Compliance is a one-volume resource that gives you straightforward instruction on complying with both federal and state laws for all areas of payroll administration: from calculating gross pay to handling garnishments, from taxation of fringe benefits to year-end reporting.
Quick Reference to Payroll Compliance helps you take the guesswork out of payroll compliance with current coverage of:
- Wage and hour laws
- Taxation and reporting of wages
- Taxation of fringe benefits and other compensation
- Tax deposit requirements
- Garnishments
- New hire reporting
- Year end reporting
Quick Reference to Payroll Compliance gives you the information you need to ensure federal and state compliance, including:
- Quick, clear explanations of Federal rules and regulations
- Easy to read requirements for all 50 states
- Line-by-line and box-by-box instructions for completing payroll tax forms
- And much more!
The 2012 Edition brings payroll professionals up to date on the latest developments and adds relevant revised material on the following topics:
- Revamped discussion of health care reporting on W-2
- Explanation of the IRS's new cell phone rules
- Payroll deposit due dates for 2012
- 2012 state minimum wage rates
- Updated state magnetic media/electronic filing requirements
- Discussion of the IRS's Voluntary Classification Settlement Program, which allows employers to reclassify workers as employees for future tax periods without paying substantial penalties or invoking an IRS audit
- Revised state income tax withholding requirements
- Inflation-adjusted federal income tax withholding figures for nonresident aliens
- 2012 state unemployment taxable wage bases and special assessments
- Updated information on tax deposit deadlines and filing thresholds for several states
- IRS Pub. 1494 for 2012
- New filing rules for employers that need an extension of time to file Forms W-2/W-3
- Updated state unemployment rates
- 2012 inflation-adjusted standard mileage rate
- List of FUTA tax credit reduction states for 2011
- Updated contact information for several state tax departments
- 2012 state disability insurance tax rates and wage bases
- Updated EFT requirements for several states
- Increased capacity of the SSA's W-2 Online program
- 2012 supplemental income tax withholding rates for several states
- Updated tip credit information by state
- New employment tax forms
- 2012 inflation-adjusted amounts for company car values
- Explanation of the new federal new-hire reporting requirement
- Updated list of student loan state guaranty agencies
- Discussion of new Form W-3c checkboxes
- Federal tax deposit due dates for 2012
- Revised contact information for state child support agencies
- 2012 inflation-adjusted qualified transportation fringe benefit amounts
- Updated new hire information for 31 states, including 23 new forms
- 2012 inflation-adjusted amounts for employer-provided adoptionassistance benefits
- Updated EFT child support remittance requirements for states
- Revised chart showing contact information for the SSA's Employer Service Liaison Officers
- Discussion of Form W-2 2D bar coding option
- 1. Overview
- 2. Wage and Hour Laws
- The Fair Labor Standards Act
- Definition of an Employee
- Determining an Employee's Status
- Determining Exempt Status
- Salary Requirements for Exempt Employees
- Regulations for Nonexempt Employees
- State Regulation of Wage Payments
- Notices, Postings, and Statements
- Federal Minimum Wage Poster
- 3. Taxation and Reporting
- Definition of Taxable Wages
- Federal Insurance Contributions Act
- Federal Unemployment Tax Act
- Federal Income Tax
- Unresolved Federal Tax Problems
- State and Local Taxes
- Quarterly Returns
- Form W-4 and State Equivalents
- Supplemental Wages
- Payroll Periods
- Forms
- 4. Taxation of Fringe Benefits and Certain Other Compensation
- Withholding and Reporting on Taxable Fringe Benefits
- Personal Use of a Company Vehicle
- Moving Expenses
- Third Party Sick Pay
- Group Term Life Insurance
- Deferred Compensation: Qualified Plans
- Deferred Compensation: Nonqualified and Section 457 Plans
- Cafeteria Plans
- Dependent Care
- Qualified Transportation Fringe Benefits
- Tips
- Employee Business Expense Reimbursements
- Meals and Lodging
- Health Insurance
- Back Pay and Special Wage Assignments
- Nontaxable Fringe Benefits Under Code Section 132
- Educational Assistance
- Adoption Assistance
- Loans
- Golden Parachutes
- Leave Sharing Plans
- Employee Stock Options
- Employee Achievement Awards
- Bonuses and Prizes
- Holiday Gifts
- Employer-Paid Taxes
- Deceased Employee's Wages
- Health Savings Accounts
- 5. Tax Deposit Requirements
- Federal Tax Deposit Deadlines
- Federal Tax Deposit Methods
- IRS Assistance
- State Tax Deposit Deadlines
- State Electronic Funds Transfer Requirements
- 6. Garnishments
- General Provisions
- Child Support
- Federal Tax Levy
- Limits on Creditor Garnishments
- Student Loans
- Publication/Forms
- 7. New Hire Reporting
- Federal Requirements
- State Requirements
- Forms
- 8. Year-End
- Form W-2, Wage and Tax Statement
- Form W-3, Transmittal of Wage and Tax Statements
- Form W-2c, Corrected Wage and Tax Statement, and Form W-3c, Transmittal of Corrected Wage and Tax Statements
- State Magnetic Media and Electronic Reporting
- Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return
- Advance Earned Income Credit
- New Form 944, Annual Filing for Small Business
- Forms
- 9. Data Privacy and Payroll
- The Need to Protect the Confidentiality of Data
- Setting Policy
- Checklist and Suggestions
- State Requirements for Protecting Social Security Numbers
- "Letter of the Law" or "Spirit of the Law"
- Sample Policies and Procedures
Alice
Gilman
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