Do Payroll compliance and health care law changes make your eyes twitch?
Are you responsible for payroll tax and compliance for your company? Does it stress you out? If you answered yes, that’s not particularly surprising. With the speed at which Payroll tax and employment laws change, and with the complexity of issues at hand, it is mission critical that you are able to initiate polices and procedures that can help positively affect the liability and culpability of your company, should a labor related dispute occur.
Here are some recent changes that can affect your company:
• On July 1, 2011 the effective FUTA tax rate changed from 0.80% to 0.60%. Currently there is some speculation that the legislature will reinstate the 0.80% before year end.
• The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan. However, to give employers more time to implement the change, the IRS has made the requirement voluntary for all employers in 2011.
Watch this video from Healthcare.gov about updates to The Affordable Care Act:
Because our payroll solution is SaaS-based, we keep our clients current and compliant by updating the system “behind the scenes” … giving them one less thing to worry about. Ascentis employs a dedicated compliance and tax team along with outside research services. This unique combination of internal and external resources ensures that Ascentis Payroll is in compliance with federal, state, and local tax and regulatory issues at all times.
Interested in hearing about how one our clients feels about Ascentis Payroll? Watch the video below.