SMART HR News You Can Use

SMART HR Related News

Archive by author: Amanda KadrmasReturn
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April 2021
News from the IRS

News from the IRS

The following are from the IRS Federal, State, and Local Government (FSLG) newsletter Taxable Fringe Benefit Essentials for Employers WebinarThe Tax Exempt and Government Entities Division would like to invite you to register to watch the free Taxable Fringe Benefit Essentials for Employers Webinar on April 14, 2021 at 1:00 p.m. (ET).This webinar is designed to explain what a fringe benefit is and how to value a fringe benefit. It will cover the most common fringe benefits and explain if those f...
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Affordable Care Act (ACA) Update

All 1095 files have either been accepted or accepted with errors.  If you do have errors, be sure to email Mara with your correction information. Have you built your 2021 ACA information rows yet?  If your health plan has a July renewal, then your administrative period is May and June. You need to be reviewing your ACA information to determine if you need to be offering insurance to employees that worked on average >130 hours/month during your measurement period.  
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March 2021
News from the IRS

News from the IRS

The following are from the IRS website at  https://www.irs.gov/newsroom/whats-hotConsumer Alerts on Tax Scams‪Note that the IRS will never:Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail you a bill if you owe any taxes. Threaten to immediately bring in local police or other law-enforcement groups to have you arrested for not paying. Demand that you pay taxes without giving you...
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February 2021

Minnesota's Labor Standards Recordkeeping laws

Minnesota employers are required to keep certain records about each employee. The Department of Labor and Industry (DLI) can demand and inspect these documents at any time to ensure compliance with Minnesota law. Information employers must record and keep for each employee Name, address and occupation. Rate of pay and the amount paid each pay period. Hours worked each day (including start and end times with a.m. and p.m. designations) and each workweek. ...
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January 2021

January 2021 TIP

You may want to consider setting LIFETAX up as a per pay period item starting in January so it is not forgottenin December each year (or during the year if the employee resigns).
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From the IRS Newswire

From the IRS Newswire

Mileage Rates for 2021The mileage rates for 2021 according to the IRS for vehicle use are as follows: 56 cents allocated per mile on vehicles used for business purposes. This represents a drop of 1.5 cents from last year’s rate. 16 cents per mile for moving and medical services. That’s a drop of 1 cent from the 2020 rate.14 cents per mile for those using their vehicles for charitable organizations. That’s the same as the the rate in 2020. IRS Warns People About a COVID-rel...
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November 2020
Health Care Reform Updates - Provided by HR360 on Behalf of LCSC

Health Care Reform Updates - Provided by HR360 on Behalf of LCSC

The IRS has delayed the deadlines by which employers must furnish 2020 Forms 1095-C and 1095-B in early 2021. For 2020, the furnishing deadline was Feb. 1, 2021, Since Jan. 31, 2021, is a Sunday. The IRS has provided an additional 30 days for furnishing the 2020 Form 1095-B and Form 1095-C, extending the due date from Feb. 1, 2021, to March 2, 2021. The deadline for filing with the IRS under Sections 6055 and 6056 remains March 1, 2021 (since Feb. 28, 2021, is a Sunday), or March 31, 2021, if fi...
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October 2020

SMART eR Covid-19 Staff Questionnaire

SMART eR now has the ability to build and track a questionnaire for COVID-19 self-examination. It will automatically track employee ID, date, and time of submission. To setup or view employee questionnaire answers, the user will need specific permissions to ensure confidentiality.  Please contact any SMART payroll/HR support staff at Region 1 for assistance setting up permission. 
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September 2020
A Taxpayer’s First Option: IRS.gov

A Taxpayer’s First Option: IRS.gov

Issue Number: Tax Tip 2020-105 The latest tax information and tips are just a click away. IRS.gov provides taxpayer assistance 24/7 and is regularly updated to reflect the most current tax information for most tax-related questions. The agency encourages the public to visit IRS.gov to: Get answers to tax questions. The Interactive Tax Assistant asks a series of questions and immediately provides answers on a variety of tax law topics. Download forms and publications. View, download and...
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July 2020

TRA Rate Change Update

TRA rate change is effective 7/1/2020. The employer contribution will increase annually for the next 4 years. The employee share will increase in 2023. 
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