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Form W-4 is an Internal Revenue Service tax form completed by an employee to indicate his or her tax situation to the employer. The W-4 form tells the employer the correct amount of federal tax to withhold from an employee’s paycheck.
Employees aren’t required to file a W-4 form with their employer every year — but you might want to anyway. If you’re happy with your current tax withholding, then do nothing and leave your current Form W-4 in effect with your employer. You’re not required to periodically submit a new W-4 form.
However, if you start a new job, you’ll have to complete a W-4 form at that time. That’s the only way your new employer will know how much federal income tax to withhold from your wages. There’s no way around that requirement.
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Check for proper classifications.
Be sure employees job classifications are correct. There are tons of classifications so you should carefully review this. These classifications are used to determine your premiums. Employees with a higher risk of injury have higher insurance rates. You can separate your payroll by your employee’s job duties. If you have employees that work multiple duties, breaking this out on your payroll records can prove beneficial. It will ensure that you are not over or under charged.
Whether the request is for an in-person or phone audit, timely responses are crucial. You’ll have to complete the audit form and provide supporting documentation for the most recent policy period expires. Since a worker’s comp audit is usually required by law, it’s in your best interest to comply.
Once you provide all requested information be proactive in the audit process. Communicate with the auditor to make sure they have everything they need. If there is a need for a premium adjustment, make sure you make any necessary changes moving forward.
Beginning August 5, 2022, Pennsylvania will have an assortment of new rules in place related to tipped employees and salaried nonexempt employees. Many simply bring the state in line with the federal Fair Labor Standards Act, but some are more employee-friendly or specific than federal law. The rules that differ are outlined here:
Definition of Tipped Employees
The state now defines a tipped employee as someone who regularly receives more than $135 per month in tips (rather than $30+). The minimum cash wage remains the same, at $2.83 per hour, as long as the cash wage plus tips equals or exceeds the regular minimum wage of $7.25 per hour.
Credit Card Fees
The rule makes it clear that employers can’t deduct credit card processing fees (or other related costs) from employees’ tips.
If an employer requires tip pooling, it must keep a record of the names and positions of all employees who participate in the tip pool and the amount given to each employee. It must also tell applicants in writing that they will be part of a pool at or before offering them the job. If an employer starts using a tip pool with current employees, they must tell them in writing at least one pay period before the pool starts.
The rule makes it clear that employers can’t use the fluctuating workweek method of determining pay for salaried nonexempt employees. Salaried nonexempt employees must have their regular rate determined by dividing their total weekly pay by 40 (hours), regardless of how many hours they actually worked. Their overtime rate is determined by multiplying that number by 1.5.
Revise your payroll practices to ensure that you only take a tip credit against employees who regularly earn more than $135 in tips per month.
Stop taking credit card fees out of employees’ tips if you currently do so.
If you use tip pooling, ensure that your notice and record keeping practices comply with the new rule.
Eliminate the use of fluctuating workweek payment methods and calculations for salaried nonexempt employees.
If you have any additional questions regarding these updates, please give us a call!
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For one season in 1943, the Philadelphia Eagles and the Pittsburgh Steelers merged to form the “Steagles” due to the loss of many players during WWII.