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With the start of each new year come changes in how we pay taxes. Some years, the changes affect employer payroll departments. 2020 is one of those years. There are numerous changes at both the federal and state levels that your clients should be aware of. This post highlights the top three.
The American Payroll Association has just released its 2019 Survey of Salaries and The Payroll Profession, which offers a comprehensive inside look at payroll departments across the U.S.
The IRS calls payroll security a “critical concern” and has once again provided advice to payroll professionals on how to secure data, avoid identity attacks, create a security plan and report breaches and thefts when they happen.
In 2016, the IRS announced that a flaw in its 'Get a Transcript' tool was vulnerable to hackers during 2014 and 2015. They stated that access to more than 700,000 taxpayer accounts was compromised during the two-year span. If the IRS is that vulnerable to hacking, so is every U.S. employer. That begs the question: how secure is the data in your client’s payroll platform?
Payroll is constantly evolving. With every passing year comes a variety of factors that influence how companies process payroll. Sometimes those influences are the result of new technologies, other times they are regulatory. At any rate, it is up to each company to adopt the latest best practices in order to keep their processes up to date.
If your professional duties include recruiting in addition to payroll, this may come as no surprise: record low unemployment rates are indicative of the U.S. economy and point to an ever-tightening hiring environment.