Knowing Your Payroll Responsibilities During The Pandemic - PowerPoint PPT Presentation

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Knowing Your Payroll Responsibilities During The Pandemic

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More and more businesses are being forced to close temporarily, or have their employees work from home due to the current health crisis. There are fraudulent scams and phishing emails to watch out for, not to mention employee uncertainty and having to strictly adhere to the FLSA (Fair Labor Standards Act). The ‘Families First Coronavirus Response Act’ has also been introduced on March 18th, and all these things combined have created a lot of pressure on payroll departments all over the country. – PowerPoint PPT presentation

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Title: Knowing Your Payroll Responsibilities During The Pandemic


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Knowing Your Payroll Responsibilities During The
Pandemic
2
  • More and more businesses are being forced to
    close temporarily, or have their employees work
    from home due to the current health crisis. There
    are fraudulent scams and phishing emails to watch
    out for, not to mention employee uncertainty and
    having to strictly adhere to the FLSA (Fair Labor
    Standards Act). The Families First Coronavirus
    Response Act has also been introduced on March
    18th, and all these things combined have created
    a lot of pressure on payroll departments all over
    the country.
  • The FLSA and what payroll need to know
  • If you have a payroll department, theyll need to
    understand exactly what the FLSA is saying about
    payments for employees when faced with such
    issues as partial workweeks,

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  • workers with no paid time off available or left,
    and expenses incurred for home office supplies.
  • If you arent already outsourcing your payroll,
    perhaps this might be a good time to consider
    doing so. When you outsource payroll, youre
    giving yourself and your company access to a
    group of professionals who understand payroll
    from every angle, and who keep themselves abreast
    of all changes to relevant laws, not to mention
    being able to give you the best advice during
    these difficult and unprecedented times.

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  • Understanding the Families First Coronavirus
    Response Act
  • It was on March 18th that the Senate passed this
    act and it was signed into law by the president.
    Containing provisions that will have a
    significant impact upon small business and
    employers with less than 500 staff, its
    important to know whether this applies to you and
    your company. If it does, then any obligations
    youre required to meet have now come into effect
    and will expire automatically on the 31st
    December 2020. If this Act is applicable to you,
    you should have posted a notice for your
    employees informing them of their rights under
    this law by now.

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  • As mentioned previously, if you dont already
    outsource your payroll requirements, now might be
    the time to do so as they can help you with any
    issues you might have related to the above act,
    or any other recent changes to the law regarding
    the payment of your employees.
  • Other payroll responsibilities during Covid-19
  • There are several other responsibilities that as
    a business owner or manager, youll need to
    ensure you understand and comply with, such as
  • The duration and amount of pay as determined by
    the box each employee checks

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  • Keeping your employees informed if your payroll
    team understand the new laws, that doesnt mean
    that your employees do, but its important that
    they are kept informed of their rights and any
    changes to laws that might apply to them.
  • Expenses incurred for those employees working
    from home
  • Its vital that for the success of your business,
    you not only understand all the new rules and
    regulations that have come into effect due to the
    pandemic, but that you adhere to them.
    Outsourcing payroll is perhaps the best way of
    ensuring that you remain compliant at all times,
    and that when restrictions are reduced, your
    business can bounce back and become healthy again.

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  • At Heyer Associates, we proactively assist our
    individual and small business clients in meeting
    their goals. Our key area of focus is ensuring
    that our clients remain compliant with federal
    and state tax laws by providing them with high
    quality accounting and tax service Coral Gables.
    If you are looking for individual tax preparation
    in Miami, Heyer Associates would be a right
    option.
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