February 2018 Focus
2018 Tax Withholding Tables: Implement by Feb. 15th
In our January Focus, we covered the IRS-release, Notice 1036, which contains the new 2018 tax withholding tables. The new rates are to be implemented by employers by February 15th. However, prior to that date, it is important to verify with your payroll vendor that their systems have properly adjusted to the new tables. For employers who have simpler tax situations, the new tables should produce a more accurate tax withholding, lessening the risk of withholding too much or too little.
The IRS expects to release a revised Form W-4 by the end of February. Until that time, "employers and employees should continue using the 2017 Form W-4," per the IRS. This will minimize the burden for both taxpayers and employers, as there is currently no action required of employees.
For additional guidance on the new withholding tables, view IRS Notice 2018-14, which was issued on January 28th to aid employers in implementing these changes.
E-Verify Historic Records Download – Download
Employers who have been participating in the E-Verify program since December 31, 2007 should take immediate action to retrieve any historical case records. As of 2014, the U.S. Citizenship and Immigration Services (USCIS) annually purges records over 10 years old, and the 2018 purge date is March 1. This means, employers should act by February 28th to obtain the data for each E-Verify case that will be purged. To do this, simply download the Historic Records Report in the E-Verify System.
For instructions on how to initiate the download, click here.
EEO-1 Report Due March 31st
The 2017 EEO-1 Report is now open, and affected employers have until March 31, 2018 to complete them. Per the EEOC, the 2016 password for previous filers will not work for the 2017 survey, so they will need to complete the EEO-1 Online Application beforehand. All first-time filers will need to register prior to completing the EEO-1 Report, and can do so through the same link.
As a reminder, back in August 2017, the Office of Management and Budget stayed the pay-data collection requirement. This means, as anticipated, employers are not required to provide data regarding employee pay. The report will be identical to the 2016 Report, but for further instruction or clarification, view the EEOC's EEO-1 Instruction Booklet.
Payroll and Human Resource Basic Training Class Dates
Do not wait, sign up today. Below is the current class schedule to be held at the Ridgeland Campus of Holmes Community College. The cost of each class is $300 and includes a desk reference for future use.
- Payroll Basics will be held Feb. 14th.
- HR Basics will be held Feb. 15th.
Classes are limited to the first 24 registrants. Click below to register for upcoming classes.