IRS Explains the Differences between Tips and Service Charges

Employers in the restaurant, hotel, casino, and other service industries must comply with laws associated with tips, including the Fair Labor Standards Act and the Internal Revenue Code. To assist them, the IRS issued Fact Sheet 2017-8 that explains the differences between tips and service charges for tax purposes. Examples from the IRS Example: A restaurant’s menu…

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Check the Benefits of Payroll Cards

If your company has a lot of employees who don’t have bank accounts or who work on the road or in remote locations, a payroll card system could save your business money in processing costs while making it easier for employees to access their wages.  An Employer’s Checklist    Before signing with a payroll card provider,  Consumers Union…

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How Long Do You Have to Retain Payroll Records?

Just in time for spring cleaning, the Social Security Administration and the IRS have issued a joint publication — the Spring 2017 issue of SSA/IRS Reporter — which offers valuable pointers for employers who want to clean up their old payroll files. In most (but not all) cases, that means following a four-year retention rule….

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