We know you’re busy – that’s why we put together the top things that you need to know about what’s happening in payroll. Here are the top news stories that may impact your business.
IRS New Releases:
- Instructions for ACA Reporting Forms - The IRS has released drafts of the Instructions for Form 1095-A, Instructions for Forms 1094-B and 1095-B, and Instructions for Forms 1094-C and 1095-C - to accompany the forms for information reporting for tax year 2014 under the Affordable Care Act. Review the draft instructions, plus draft forms 1094-B, 1094-C, 1095-A, 1095-B, and 1095-C.
- New Third Party Sick Pay Recap Form - The IRS has released a draft version of the 2014 Form 8922, Third-Party Sick Pay Recap. The draft form, dated July 18, 2014, is available for review on the APA website.
GSA Issues Federal Per Diem Rates for the 2015 Fiscal Year
The General Services Administration has released its annual updated list of federal maximum per diem rates for travel to locations within the continental United States (CONUS). Per Diem Bulletin 15-1 is effective for travel undertaken on or after October 1, 2014.
Unemployment Rates – A new report
According to the Bureau of Labor Statistics, the jobless rate is up in 24 states, and down in 15 states according to a report from this past August. Eleven states had no change. Nonfarm payroll employment increased in 35 states and decreased in 15 states and the district. Specifically in New York State, the unemployment decreased over the year. The rate was 7.7% in August 2013 compared to 6.4% in August 2014. (Bureau of Labor Statistics)
At CPP, it’s our goal to keep you on top of the changes that may impact your business. And if you’d like more information on how we can help manage your payroll and keep your firm in compliance with all of the changes, please let us know. Whether your company is small or large, we’d be happy to help.