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Payroll

IRS Provides Retroactive Guidance on Employee Retention Credit for 2020, Certain PPP Loan Recipients May Apply

By Payroll

On March 1, the IRS issued much needed guidance (via Notice 2021-20) for employers attempting to claim the employee retention credit under the CARES Act (signed March 27, 2020), as modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 or the RELIEF Act (signed December 27, 2020). The guidance clarifies what most already knew is that for 2020, the employee retention credit can be claimed by employers who paid qualified wages after…

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IRS Extends Distribution Deadline for Health Care Reporting Forms 1095-C and 1095-B

By Payroll

Shortly after our October blog post explained reporting requirements under the Affordable Care Act (ACA), the IRS announced an extension of the deadline for distributing those forms. On October 2, 2020, the IRS announced it would extend the deadline for employers to provide employees with a copy of their 1095-C or 1095-B reporting form, as required by the ACA, moving the deadline from January 31 to March 2. This is the fourth year in a…

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Save Time Next Year by Reporting Form W-2 Before the Annual January 31 Deadline

By Best Practices, Payroll

As most employers or individuals with responsibility for running payroll know, January 31 is the deadline for filing Form W-2s with Social Security as well as for distributing them to employees. What most may not consider is the importance or at least the advantage of filing those W-2 forms early. Receipt of W-2s prior to the January 31 deadline allows time for employees to review and notify their employers of inaccurate information. At MarathonHR, we…

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How to Use MarathonHR Client 2.0 on a Mobile Phone

By Payroll

To further support small and medium-sized businesses with their workforce management, MarathonHR’s Client 2.0 portal is an employee self-service tool to access work records such as: Paycheck Contact information Work calendar Timesheet Training records Leave of absences In Client 2.0, employees can also: Record expenses Clock in and out Request PTO Enroll in benefits Watch our short video for a tutorial on how to use Client 2.0 from your mobile device.

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Make Sure W-2s Find Employees at Their New Mailing Address

By Payroll

In an environment where employees increasingly receive all employment and even personal financial information digitally, they oft overlook reporting a change in physical address to their employers. We know this year that a great many workers took advantage of work from home (WFH) policies and made their vacation address their permanent address. We hope that they will get to enjoy the better views from their WFH environments for as long as possible but at the…

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Now is the Time for Every Employee to Double Check their Withholding

By Payroll, Withholding Taxes

Although November is always a good time to revisit your tax withholding each year, it is especially appropriate this year for employees who may have you experienced major changes in their income due to furloughs or layoffs, or received a stimulus payment under the CARES Act. The IRS calls these Paycheck Checkups and conveniently provides a tool for taxpayers to use to help determine whether they are having the right amount of tax withheld from…

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Facial Recognition Time Clocks Maintain Healthy Workplace

By Payroll, Technology in the Workplace

Biometric time clocks that use fingerprints, iris scanners or hand readers are wildly popular with organizations intent on ensuring accurate timekeeping of on-site employees. Since the advent of the pandemic, many businesses are changing the way they manage employee time and attendance including how their employees punch in and out for work. With enhanced protocols for hygiene in the workplace, employers are looking for touchless, contact-free solutions to help protect the health and safety of…

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Business Owners May Need to Report Medical Insurance Premiums as Wages

By Payroll, S-Corps

Business owners who are covering their health insurance premiums through a company in which they are a greater than 2% S-Corp shareholder-employee need to remember that these premiums are deductible by the S-Corp and therefore reportable as wages on the shareholder-employee’s Form W-2 and subject to income tax withholding. You’ll find this additional compensation included in the shareholder-employee’s Box 1 (Wages) of Form W-2, Wage and Tax Statement, but is not included in Boxes 3…

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For Tip Credit, Employers Must be Transparent with Employees

By Employment Law, Payroll

Employers with employees who receive part of their compensation in the form of tips must provide oral or written notice to their employees that they are taking a tip credit. With the understanding that most tipped employees make up the difference of the minimum wage of $7.25/hour through tips, employers are allowed to use the “tip credit” to pay employees $2.13/hour. An employer who fails to provide the required information to their employee cannot use…

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