Zellis on LinkedIn: Webinar: National Minimum Wage compliance with HMRC (2024)

As an employer, are you complying with the minimum wage rules? The rates increased on 1 April this year, and HMRC is clamping down on employers who flout the rules. In this blog, we set out the current amounts, whom it applies to, and whom it doesn't. There's also some useful advice if you have family members working in the business.Find out more here: https://lnkd.in/ggE6sWQi

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Don't get caught out by the changes to the national minimum wage rates. Our latest blog below tells you all you need to know about complying with the rules.

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📢 Attention employers! The IRS has issued an important reminder regarding wage statements and independent contractor forms. 📝As the end of January approaches, it is crucial to remember that the deadline for filing these essential documents is swiftly approaching. The IRS wants to ensure that all employers are aware of their obligation to file accurate and timely wage statements, such as W2s, as well as independent contractor forms like 1099-MISC and 1099-NEC.Filing by the due date of January 31st is not just a suggestion but a legal requirement. Failure to comply with this deadline could result in penalties or other consequences. 💼💸To avoid unnecessary complications, we strongly urge you to review your records meticulously and submit these forms promptly. By doing so, you'll not only stay in compliance with IRS regulations but also contribute to the smooth operation of your business.For more information on this topic, check out the article below. Stay informed, stay compliant! 🗓️📊#IRS #deadline #compliance #businessobligations

IRS reminder: Jan. 31 filing deadline for employers to file wage statements, independent contractor formsWASHINGTON - With tax season rapidly approaching, the IRS reminds employers that Jan. 31 is the deadline for submitting wage statements and forms for independent contractors with the government.Employers must file their copies of Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration by Jan. 31. The Jan. 31 deadline also applies to Forms 1099-MISC, Miscellaneous Income, and Forms 1099-NEC, Nonemployee Compensation, that are filed with the IRS to report non-employee compensation to independent contractors

‘Claims that are unclear, misleading or unevidenced can lead to an erosion of public trust in market action.’#ISEAL public consultation on our draft framework for ‘making credible living wage claims’ is the first step towards providing companies and sustainability schemes with clear guidance when making claims on living wages.We are seeking feedback on our draft framework to help us strengthen our guidance. The public consultation will run until 26 September.Discover more > https://ow.ly/Gkgc50PFnARSupported by IDH

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Employer Deadline to File Wage Statements is January 31:The IRS would like to remind employers that 1/31/24 is the deadline to file wage statements and forms for independent contractors. The forms required to be filed by this deadline include Form W-2 (Wage and Tax Statement), Form W-3 (Transmittal of Wage and Tax Statements), Form 1099-MISC (Miscellaneous Income), and Form 1099-NEC (Nonemployee Compensation). Form W-2 and Form W-3 must be filed with the Social Security Administration and Form 1099-MISC and Form 1099-NEC must be filed with the IRS. New electronic filing requirements are also in effect beginning in 2024. Businesses that file at least 10 information returns, must file W-2s and certain information returns electronically. The Information Returns Intake System (IRIS) is a free electronic filing service for the Form 1099 series and is offered by the IRS. This online portal can also be used to prepare payee copies for distribution, file corrections, and request automatic extensions. News Release IR 2024-06 .

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Attention Californians! Brace yourselves for significant shifts in minimum wage laws that could extend beyond fast-food and healthcare sectors. Recent legislation signed by Gov. Gavin Newsom promises wage hikes for fast-food and healthcare workers. Starting April 1, fast-food employees in California-based chains with 60+ locations nationwide will see their hourly minimum soar to $20. Meanwhile, healthcare workers will witness a range of minimums from $18 to $23, varying by facility and locale.At Dallo Law Group, our forte lies in navigating tax controversies, ensuring your peace of mind amidst intricate tax landscapes. Whether you're a business owner or an individual taxpayer, count on us to decipher the implications of these laws and equip you for any forthcoming changes.Trust Dallo Law Group to guide you through these dynamic times with precision, care, and tailored solutions.#TaxLaw #TaxControversy #MinimumWage #CaliforniaLaw #TaxHelp #PeaceOfMind #IRS #TaxDebtRelief #TaxServices #DalloLawGroup

DAILY PAY RATES TO GO?HMRC’s proposed legislation may see the end of daily rates as we know them. The draft legislation will call for more accurate data to be reported in real-time. Meaning if daily rates are to stay, they will almost certainly require an hourly equivalent. These changes almost certainly come from National Minimum Wage breaches where individuals worked more hours than they expected to, in a day without any additional pay. People Group Services, has for sometime now, always asked for hourly equivalents where daily or half daily rates are quoted. Our advice is to either change to hourly pay rates or to stipule the number of hours in a day rate - Most importantly, is to pay the additional when those hours have been exceeded. HMRC will not only fine organisations but will name and shame those who breach NMW. #agencyowner #recruitmentleaders #recruitmentnews

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Attention Californians! Brace yourselves for significant shifts in minimum wage laws that could extend beyond fast-food and healthcare sectors. Recent legislation signed by Gov. Gavin Newsom promises wage hikes for fast-food and healthcare workers. Starting April 1, fast-food employees in California-based chains with 60+ locations nationwide will see their hourly minimum soar to $20. Meanwhile, healthcare workers will witness a range of minimums from $18 to $23, varying by facility and locale.At Dallo Law Group, our forte lies in navigating tax controversies, ensuring your peace of mind amidst intricate tax landscapes. Whether you're a business owner or an individual taxpayer, count on us to decipher the implications of these laws and equip you for any forthcoming changes.Trust Dallo Law Group to guide you through these dynamic times with precision, care, and tailored solutions.#TaxLaw #TaxControversy #MinimumWage #CaliforniaLaw #TaxHelp #PeaceOfMind #IRS #TaxDebtRelief #TaxServices #DalloLawGroup

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New blog ✍ Our accreditation officer, Anna has written a blog sharing some reflections from working with employers in the industry, on benchmarking pay against the real Living Wage, amid cost pressures and challenges.Read it here: https://bit.ly/45RXCkE

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