Recap and Review:
Congratulations to ASAP’s Todd Brown for his election to the Telluride Town Council.
The Colorado Department of Labor & Employment (CDLE) is conducting more than a thousand audits on employers each year to enforce Colorado’s Employment Verification Law.
According to a recent post by our friends at Jackson Lewis LLP, The Division has conducted approximately 200 compliant-based audits, 5,400 random audits, and 650 re-audits since the law went into effect in 2007.
Colorado employers must make an affirmation on the Colorado Affirmation of Legal Work Status Form (revised 9/2012) within 20 days after hiring a new employee. Additionally, the employer must keep a written or electronic copy of the employee’s documents as required by the federal I-9 Form (revised 3/2013).
After weeks of contention, a bipartisan deal emerged from the Senate Wednesday (10/16) to reopen the bulk of the federal government. However, the measure only fund the federal government through January 15. Thus, Congress would face a December 13th deadline to create a plan for the next ten years. Although yesterday’s deal only offers short-term relief, it is certainly better than the alternative of none at all.
As it relates to the Affordable Care Act, the Senate bill included only one alteration to reforms. Individuals or families who receive federal subsidies for their health insurance under the ACA will face stricter income verification.
E-Verify has resumed operation as federal government reopens.
The Department of Labor and Equal Employment Opportunity Commission (EEOC) will remain active during the shutdown, although activities are limited.
The Treasury Department will continue to conduct automated revenue collections and manage cash, but the IRS will stop performing key activities such as audits, tax return examination, processing paper returns and taxpayer call centers will be unavailable.
OSHA will suspend all operations except for the functions related to “emergencies involving the safety of human life or protection of property.”
The National Labor Relations Board (NLRB) will cease all nonessential functions.
State Departments – most state operations are still operational.
Did you receive a “Bond Interest Assessment Billing Statement” letter dated September, 2013?
The economic downturn starting in 2008 created a drain on the Colorado State Unemployment Fund, therefore a loan was required from the federal government to fund the shortfall. As a result, Colorado needs to pay interest on this loan.
Many employers in Colorado will be facing this Interest Assessment. This assessment has nothing to do with your normal Unemployment (UI) tax payments. (This assessment is the THIRD installment and is similar to the Bond Interest Assessment that was calculated and assessed in the Fall of 2012).
Current year Assessment Payments are due October 3, 2013.
Employers should make checks payable to the Colorado State Treasurer; include your unemployment account number with the payment and a copy of the Bond Interest Billing Statement.
Payments should be sent to: Colorado Dept. of Labor and Employment PO Box 46545 Denver, CO 80201-6545
We want to ensure that your assessment payments (which must be paid OUTSIDE of normal payroll processing) are made in a timely manner, so please be on the lookout for this Bond Interest Assessment Billing Statement. ASAP Accounting & Payroll Services, Inc. is unable to process these payments as they are uniquely calculated per each employer and are in ADDITION to your typical payroll taxes that you may be accustomed to ASAP paying on your behalf.
For more information you may contact the Dept. of Labor directly at 303-318-9100 or 800-480-8299.
The following types of employers are not subject to bond interest repayment:
Employers are required to provide a Health Insurance Marketplace Notice to employees regarding the new insurance ‘exchange’ options.
Earlier this month, the Department of Labor issued guidance regarding the notice about Connect for Health Colorado’s new insurance marketplace. The DOL’s release included two model notices for employers: one for employers providing health insurance and another for employers that do not offer health insurance coverage (see samples of these model notices below).
The date for employer distribution of notices is October 1, 2013. The notice must be in writing; it can be distributed electronically as long as employees have access to email and clear notice is provided about the electronic documents. It is recommended that you retain a signed and dated copy of acknowledgement (give them a copy and retain original for YOUR records). Employers will also be required to provide notice to newly hired employees within 14 days of hiring.
>> Review/Download DOL’s Technical Release (No. 2013-02)ASAP has posted the sample forms on our website under “Downloads/Forms” for you to easily download any time.
With school back in session, it’s important to understand the legalities behind employing students. It is legal to employ students during the school year, however federal and state laws impose certain restrictions on the amount of time students can spend at your business.
Federal overview >>FindLaw.com – Legal for Students to Work During the School Year
Colorado Youth Employment Laws >>CDLE, colorado.gov
The hiring and recruitment process is time consuming, tedious, and at times financially consuming, but essential to finding and retaining top talent for any organization. This article covers are some key aspects to set the bar for success.
View/download the Full Article to review best practices including; defining the position, staying competitive, promoting the job, interviewing, as well as interesting perspectives from Inc.com and the Harvard Business Review. >>Full Article
Recap & Review
Revised I-9 Form effective May 8, 2013
Bonuses Defined (non-discretionary versus elective)
ASAP Clients – “Trust, But Verify” Ronald Reagan
As your payroll services provider, we know you trust ASAP Accounting & Payroll Services, Inc. to file your payroll tax returns and payments timely and completely. At ASAP, we guarantee our payroll services with our word above all else. However, taxing authorities still hold you, the taxpayer/employer responsible for your employment taxes. Our service guarantee does not eliminate this liability. Thus, we encourage you to check behind us and verify that we are paying/filing as we state.
How do you know ASAP is making your tax payments? >>Download the Taxpayer’s Liability Handout HERE to see the easy steps you can follow to verify your tax payments. Thank you for your trust in ASAP. Please contact our Payroll Team or Tax Department with any additional questions.
The U.S. Department of Labor (DOL), in partnership with Metropolitan State College of Denver, invites you to attend a free Information and Outreach Forum on July 24, 2013. This will be a great opportunity to learn more about the work being done by DOL, to meet with agency leaders, and to attend workshops of interest. >>DOWNLOAD Forum Flyer and Registration Form