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Learn MoreThe rollercoaster ride continues as federal regulators reevaluate the current overtime rule and what it means to meet the salary level test. In 2024, the Biden administration's Dept. of Labor (DOL) finalized a rule that aimed to dramatically increase the…
Real-time payments are becoming a must-have for finance teams aiming to modernize payroll operations. With RTP and FedNow, organizations can move funds in seconds and gain tighter control over cash flow. But real-time payments for payroll isn’t a plug-and-play upgrade.…
After more than a year, the IRS has made changes to Form 1099-MISC, Miscellaneous Information, and Form 1099-NEC, Nonemployee Compensation. While changes used to occur annually, now the forms are “continuous use,” meaning the IRS revises them only when needed.…
Compensation is the top challenge for employers in 2025, with nearly half (44%) reporting it as their primary concern, according to a recent study by Payscale. In its 2025 Compensation Best Practices Report, Payscale determined that organizations plan to give…
Learning that a Form W-2 contains errors is bad enough, but being assessed a penalty by the IRS is even worse. Errors can show up in many ways. For example, employers might enter incorrect information, such as the amount of…
Several types of earnings would no longer be taxable for income tax purposes, according to plans put forth by President Trump. In his address to a joint session of Congress on March 4, 2025, Trump called for tax cuts that…
The IRS recently issued updates affecting semiweekly tax depositors. Specifically, the Service pushed back two due dates for making deposits through the Electronic Federal Tax Payment System (referred to as EFTPS) and other electronic funds transfer methods. Here’s what the…
With tax year 2024 Forms W-2 out the door, it’s time to turn your attention toward the changes IRS has made for TY 2025 forms. The IRS released final versions of Form W-2 and Form W-3 for 2025 on January…
Wage bases for 2025 have rolled out across the country. You can ensure you're accurately withholding for unemployment insurance (UI) tax. Take a moment to double-check the information for your state. While most states with changes have increased their wage…
After President Biden issued an executive order saying all federal departments and agencies would be closed on Jan. 9, 2025, employers wondered if the date would have the same impact as a federal holiday. Would banks be open -- or…
Beware of auto pilot when issuing expense reimbursement checks to employees. Some, or all, of the money may technically be wages instead. Says who? The DOL. New guidance from the agency sheds light on a common scenario businesses face: Employees…
If you have employees who drive personal vehicles for work or employer-provided vehicles, check out these IRS mileage and other transportation updates for 2025. First, IRS said in a recent notice that the business standard mileage rate for 2025 is…
Resourceful Finance Pro, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.
