Employee retention is a challenge for employers, particularly when trying to keep younger employees happy. Some of the “perks” may not be as appealing as they once were, as employees are often looking for unique benefits. Depending on the industry your business operates in, you may have people looking for alternative payment methods. The traditional… Read more
The Treasury Department and IRS issued Notice 2023-13 on February 6, 2023, affecting tipped employees in the service industry. This notice outlines a proposed revenue procedure establishing the Service Industry Tip Compliance Agreement (SITCA). The proposed program creates a voluntary reporting relationship between the IRS and employers in the service industry, outlines guidance, and requests… Read more
To Payality’s Clients and Partners, We are pleased to inform you that Payality has been acquired by Payroll People, Inc., also known as PPI Business Services. Payroll People (www.payrollpeople.com) recently celebrated 40 years of business excellence and is one of the largest independently owned human capital management providers in the country. Payroll People also includes… Read more
Paycheck Protection Program (PPP) Loans Existing PPP Loans Business expenses paid for with the proceeds of PPP loans are tax deductible. This is a significant tax savings for employers. Increases simplified forgiveness to loans of up to $150,000. It is assumed that the recently released 1 page 3508S forgiveness application will be revised (It is… Read more
Following passage of the the Tax Cuts and Job Act in December 2017, the IRS has issued a new form W-4 for 2018. The IRS also released an updated tax withholding calculator on IRS.gov that employees can use to help determine their 2018 tax withholding. The IRS is not requiring employees to provide new W-4’s… Read more
The IRS announced today that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2018, to provide Forms 1095-B or 1095-C to individuals, which is a 30-day extension from the… Read more
For the 7th consecutive year, California Employers will be assessed additional federal unemployment taxes (FUTA) because the state failed to repay the outstanding loan balance to the federal government by the November 10th deadline. https://www.irs.gov/businesses/small-businesses-self-employed/futa-credit-reduction California Employers subject to FUTA, will pay an additional 2.1% on FUTA taxable wages (first $7000 of taxable wages times… Read more
Payality has been named to the Inc. 5000, an annual listing of the nation’s fastest-growing private companies prepared by Inc. magazine. This represents the second time that the co-founders of Payality have had one of their companies make this prestigious list. The list represents a unique look at the most successful companies within the American economy’s most… Read more
As part of Payality’s on-going efforts to ensure our systems as secure as possible, Payality will be disabling the use of Transport Layer Security Version 1.0. TLS1.0 is used by older, unsupported and XP based versions of Web Browsers. Both TSL1.0 and these older browsers have security flaws necessitating discontinuation of their use. This change… Read more
