While there are no specified forms required for keeping employee and payroll records, certain information is mandatory and must generally be kept for four years. Below is a chart showing information required by each of the federal agencies
While there are no specified forms required for keeping employee and payroll records, certain information is mandatory and must generally be kept for four years. Below is a chart showing information required by each of the federal agencies
The IRS has released a tax tip advising taxpayers missing a Form W-2, Wage and Tax Statement (IRS Tax Tip 2012-20). Employers should have mailed or hand delivered a Form W-2 for each of their employees by January 31, 2012, for wages paid in calendar year 2011.
The IRS recommends taxpayers follow four steps if they have not received a Form W-2:
The National Labor Relations Board (NLRB) has issued a final rule requiring nearly all U.S. businesses to post a notice telling employees their union rights. This is a new federal requirement. As of January 31, 2012, most private sector employers are required to post a notice advising employees of their rights under the National Labor Relations Act. The notice should be posted in a conspicuous place, where other notifications of workplace rights and employer rules and policies are posted. Employers also should publish a link to the notice on an internal or external website if other personnel policies or workplace notices are posted there.