There has been a significant amount of confusion regarding the new and mostly unknown Beneficial Ownership Information (BOI) reporting requirements, so let’s get to the bottom of what it is and what you need to do to keep your business out of trouble. In 2021, Congress passed the Corporate Transparency Act (CTA), a law to help prevent financial crimes like money laundering, corruption and tax fraud. Among other things, the law requires certain business entities to disclose information about their owners, and those who control the business, to the Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Treasury.…
Posts published in July 2024
The state of Florida has recently passed a law mandating employers to perform E-Verify of all new hires effective July 1, 2024 Florida now joins 26 other states that mandate E-Verify in some manner. The fine is $1,000 per day for failing to comply, so you want to be sure you are in compliance. Our webinar covers the following (and more): What is E-Verify? Who is mandated to use it? How do you enroll in the service? How do you perform a verification? What happens if an employee fails verification? How can you automate the process with PayMaster HCM?
Our year-end webinar addressed a multitude of topics starting with how to put a bow on 2023 as well as get off on the right foot for 2024. PayMaster’s Romeo Chicco and Kate Russell provided a wealth of knowledge on a sprawling number of subjects such as state unemployment updates, FUTA credit reduction, taxable fringe benefits and so much more. We were also pleased to be joined by a special guest, Jasna Djurin CPC, CPFA, Sr. Director, Compliance and Regulatory Oversight with Slavic 401k, who provided a lot of much needed insight on the upcoming Secure Act 2.0 as well…