The great thing about doing payroll in this day and age is all the information you can find on the Internet. I can remember in my first years in payroll back in the late 70s, having to do all the research myself and not having anybody to ask “hey what’s going on?”. But now we can find information at our fingertips and converse with hundreds of people on a topic of interest. An example of this is the social media event being held by the American Payroll Association (APA). On Thursday, September 25 at 3 PM EDT experts from the APA along with a special guest from Ceridian will participate in an hour-long Twitter chat on the Affordable Care Act and its impact on payroll. Join the chat on Twubs at http://goo.gl/9HXMvj or chime in on twitter or #paynews. I will be joining in the discussion and I hope you can to.
It’s hard to believe it is already fall. There is a fall feel in the air in some places–still hot where I am. But it is definitely cooling down which means Halloween will soon be upon us, followed by Thanksgiving etc. But to us payroll professionals fall also means time to start thinking and planning for year end. Time to start getting all our ducks in a row for processing the Forms W-2 for 2014. So as items come across my desk that deal with year end I will post them here for you. This time I want to discuss the Form W-2 reporting changes for third-party sick pay. Effective January 2015, the Social Security Administration (SSA) will no longer process the “Third-Party Sick Pay Recap” or what we used to call the “dummy W-2”. This recap is required in order to reconcile Forms W-2 with the Forms 941 for the calendar year when insurance companies or plan administrators share employment tax responsibilities with the employer for disability payments. Under the new procedures, applicable insurance companies, administrators and employers will be required to file Form 8922, Third-Party Sick Pay Recap with the IRS by February 28th or March 31st if filing electronically. The Form 8922 is actually still in draft form on the IRS website but they hope to have the form finalized by December.
The Montana Department of Labor & Industry SUI Division has reported in their 3rd quarter “Quarterly News” that the SUI taxable wage base for 2015 will be $29,500. This is an increase of $500 from this year’s base of $29,000.
In our quest to make getting payroll news updates to you easier and faster we have decided to change the direction of our blog posts. From today, our news updates will be our blog posts on Tuesday through Friday. All updates will be entered as a blog post. Don’t worry we will still send out the news updates via email and post to twitter and linked in. Our email news updates will contain the main info of the news item and the needed links. But our twitter and linked in posts will just state the basics of what is being updated and refer to the blog for more info. For example, we sent out an update for the new California sick leave mandate. We sent out an email update, a twitter update, and a LinkedIn update. Going forward we will still send out an email update with the basic information but the twitter and LinkedIn updates will simply state California mandates sick leave with a link to our blog. We will also be replacing the news page on our website with the blog page. This will allow us to update our website at the same time that we do the blog. This prevents delays in getting our website updated. But more important this allows us to leave updates on our website longer than 2 to 3 weeks. Many of our subscribers have commented on the fact that we only allow a short period of time for each news article to be posted to our website. This will no longer be a problem. All blog updates will be maintained on our website indefinitely. To accomplish all this we had to move our blog from blogspot to WordPress. We appreciate your patience while this change is being made. And we hope you like the new blogs.