A few items regarding payroll and employees…

In January, President Obama unveiled new proposals to support and encourage  businesses granting more paid sick leave to employees. In what the administration hopes will “strengthen the middle class by giving working families the flexibility to balance their families and their job”, the president proposals include:

  • Calling on Congress, as well as States and cities, to pass legislation that would allow millions of working Americans to earn up to seven days of paid sick time per year;
  • Proposing more than $2 billion in new funds to encourage states to develop paid family and medical leave programs and announcing that the Department of Labor will use $1 million in existing funds to help States and municipalities conduct feasibility studies; and
  • Modernizing the Federal workplace by signing a Presidential Memorandum directing agencies to advance up to six weeks of paid sick leave for parents with a new child and calling on Congress to pass legislation giving federal employees an additional six weeks of paid parental leave.

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In other news, on  the Obama administration just extended the deadline for signing up for health insurance on the federal open exchanges. Some state exchanges have followed suit. The deadline which was to end Feb 15, 2015 was extended to April 15, 2015.

This is the first year when all taxpayers will be required to pay a penalty of $95 for not having any health insurance in 2014. The penalty increases to $325 for 2015. The penalty is collected through the annual tax filing process. The administration was concerned that individuals did not have enough time to sign up for a health plan to avoid the penalty due in part to harsh weather or technical misunderstanding of the sign up process. The extension thus grants more time for individual sign up. It is supposedly only for folks who started the sign-up process prior to the deadline, but did not complete it. The government admitted however that they would not confirm that stipulation.

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In other ACA news, about 800,000 taxpayers throughout the country who enrolled in insurance policies through HealthCare.gov received erroneous tax information from the government and were urged by the IRS on Friday to hold off on filing tax returns until the error could be corrected and new correct forms issued.

The error by the federal insurance marketplace is similar to what would happen if an employer reported inaccurate information on wages paid to an employee, or a corporation reported incorrect information about dividends paid to a shareholder.

 

About Time & Pay:

Time & Pay is a professional payroll service provider located in Johnson City, TN. We service businesses of all sizes and types throughout the United States. Founded in 1992, Time & Pay provides businesses with complete payroll services , guaranteed payroll tax compliance, automated time and attendance systems and services, pay-as-you-go worker’s comphuman resource management systems and services, and more. We provide our customers with the cost effective tools you need to better manage your payroll, your employees and your business. Time & Pay’s services guarantee you will save money, time and aggravation and we back them up with the customer service you expect and deserve. Contact Us today to learn why business owners throughout the country are saying:

“Time & Pay! Why would you do payroll and timekeeping any other way?”

Offices:
Payroll Services  in Kingsport, TNBristol, TNJohnson City, TN;   423-854-9042
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