How Will the Infrastructure Deal Affect Contractors?

On November 15, President Biden signed into law the $1.2 trillion Infrastructure Investment and Jobs Act. In this historic deal, policymakers have a goal over the next 10 years of strengthening and modernizing everything from supply chains and the electric grid to repairing deteriorating bridges and highways. This deal brings significant job opportunity to the construction industry. And while it …

IRS Releases 2020 Form 941 Draft

The IRS has released a draft of the 2020 Form 941. This draft is the version that’ll be used for second quarter returns and features substantial updates to account for COVID-19 employment tax credits. Some changes to note include: Parts 1 and 3 of Form 941 to account for paid sick leave and expanded family and medical leave, as well …

2020 Federal Tax Deadline Extended to July 15, 2020

2020 Federal Tax Deadline Extended to July 15, 2020 In response to the COVID-19 pandemic, the IRS has postponed the April 15 federal tax filing and payment deadline to July 15, 2020. This extension is automatic and applies to all individuals and corporations. It’s important to note that the extension only applies to federal tax deadlines, not state. Check with …

Payroll Tip: Get Ready for Back to School

Get Ready for Back to School With the summer winding down, it means one thing — it’s back to school season! While you might not be signed up to take any classes this fall, it’s possible that a portion of your part-time and seasonal workers are. To help keep in touch with your seasonal workers during the off-season, now is …

Minnesota First to Establish New Felony Wage-Theft Legislation

Ahead of other states, Minnesota enacted a new law substantially amending current labor statutes, including wage and hour requirements, protections, and sanctions, as of July 1, 2019. Provisions amending criminal wage theft and sanctions take effect August 1, 2019. While the legislation has made headlines in the North Star State for being the first to elevate the criminal status of …

Case Study: Desperately Seeking Service (for Multi-Rate Payroll Processing)

“We’re all construction with multi-state and union, so it’s a complex payroll,” says Tammy Evans, CFO of industrial painter Certified Coatings Co. — a Fairfield, CA division of Germany-based The Muehlhan Group. Tammy explains just how complicated it can get on one of their jobs, “One of our local collective bargaining agreements was that guys working at 50 ft., 100 …

Performing a Busy-Season Reassessment

With summer’s busy project season in full swing, this midpoint provides an opportunity to reassess your processes and make this season a success. Chances are, a lot of the finer details that were uncertain at the start of the year — like how many bids you might win and the number of additional workers you need to hire — should …

Will Multi-State Taxes Get Simpler for Contractors?

In 2019, a bill is advancing to the U.S. Senate Committee on Finance that could significantly change how construction employers who work in multiple states handle their payroll taxes. The proposed S. 604, currently known as the Mobile Workforce State Income Tax Simplification Act of 2019, seeks to “limit the authority of States to tax certain income of employees for …

A Construction Pay Stub Explained

If you do construction payroll, you know that it’s not always simple. Whether you’re dealing with prevailing wage rates, union benefits, taxes for multiple states and localities, or even just overtime pay, there’s a lot that goes into calculating the amount your employee receives. This can lead to questions from employees who wonder what all the seemingly cryptic codes on …