Small Employers Get Reprieve on Health Premium Reimbursement Plans
There's some good news for small employers that have been paying employees the cost of buying their own health coverage. If you're one of those employers, you're probably aware that a few months ago that arrangement was deemed unacceptable and, therefore, subject to hefty penalties. Now the IRS has given you a temporary reprieve, but as always, there's nothing simple with the IRS. Here's what you need to know.
Employers Get Extension on Work Opportunity Tax Credit Paperwork
The IRS is giving employers extra time to file a form required to claim the Work Opportunity Tax Credit for eligible employees. Employers now have until April 30, 2015 to file the form that is required to claim the valuable tax credit for qualifying workers hired in 2014. This article has the details about the IRS relief and the steps an employer must take to take advantage of this opportunity.
Itís Not Too Soon to Tackle the Next ACA Compliance Task
If your company has 50 to 99 full-time equivalent employees, you may want to start gearing up to meet some of the IRS filing requirements for 2015. These requirements relate to the "shared responsibility" rules of the Affordable Care Act. In particular, it's time to become familiar with two new sets of forms. Larger employers should already have done this. Here's what you need to know.
Employees Not Saving for Retirement? Consider Auto-Enrollment
A television commercial for a financial services company shows a smiling 30-something employee who has just received a promotion. "Now you can start saving for retirement," intones the narrator. That's great. But it would've been better for her future if she'd started a decade earlier, even if the amount she could contribute in the early days was small. What can you, as her employer do?
Poor Communication About Pay May Sap Employee Motivation
Don't hold back on talking to employees about why they are paid what they are paid. Many employers don't, and that can diminish the motivational potential of paying your workers a competitive salary based on an understood compensation philosophy and some objective market research. Here's what others are doing.
Extreme Winter Weather Creates Blizzard of New Requirements
Depending on where you are located, winter can wreak havoc, or at minimum, add some complications in the way things get done in your business. This is hardly a revelation to employers in regions regularly battered by punishing snow and ice storms. But what might not be so obvious is the degree to which federal and state laws dictate your obligations to employees when hazardous winter weather strikes.
Paid Sick Day Policy: Fertile Ground for Trial and Error
In his recent State of the Union Address, President Obama lamented the fact that U.S. employers are not obligated to offer employees paid sick leave. Most employers do so anyway, although some, like those based in San Francisco, are required to by local laws. However, unless or until paid sick leave becomes a federal mandate, many employers might benefit from experimenting to see what works best for them.