HCM Insights October 2020

HCM Insights October 2020

November Holidays

Veterans DayVeterans Day

We are grateful to those who have served our country throughout all generations. The upcoming Veterans Day Holiday falls on Wednesday, November 11, 2020. While CBIZ HCM offices will be open this day, this is a Federal Reserve Bank Holiday, and payroll draft dates may need to be adjusted.  

Important Payroll Deadlines

Check Date Check Processing Date
Thursday, November 12, 2020 Monday, November 9, 2020
Friday, November 13, 2020 Tuesday, November 10, 2020

Happy Thanksgiving

Thanksgiving

In observance of the Thanksgiving Holiday, CBIZ HCM offices will be closed on Thursday, November 26, 2020, and Friday, November 27, 2020. Also, Thursday, November 26, 2020, is a Federal Reserve Bank Holiday, which means payroll draft dates may need to be adjusted.  

Important Payroll Deadlines

Check Date Check Processing Date
Friday, November 27, 2020 Tuesday, November 24, 2020
Monday, November 30, 2020 Wednesday, November 25, 2020


As always, your CBIZ HCM team is here to help should you have questions. We appreciate your continued partnership, and we wish you and your business the best of health. Please contact your payroll services team if you have any questions.

 

 

Have You Received Your 2021 SUI Tax Rates?

Tax Rates

If you have received your 2021 SUI Tax Rates, please send them to the CBIZ Tax Department so we can keep your account compliant! Many state unemployment tax agencies will begin mailing 2021 tax rates to employers soon. Please send this information to the attention of the CBIZ Tax Department once received. 

SUI Rates Available November - December 2020

Alaska, Arkansas, California, Colorado, Delaware, District of Columbia, Florida, Idaho, Illinois, Iowa, Indiana, Kansas, Kentucky, Louisiana, Maine, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Dakota, Texas, Utah, Virginia, West Virginia, and Wisconsin 

Please note that Georgia employers will need to obtain their rates online beginning mid-November 2020. 

SUI Rates Available January 2021

Arizona, Connecticut, Hawaii, Maryland, Massachusetts, Michigan, Mississippi, New York, Rhode Island, South Carolina, Washington, and Puerto Rico 

Ways to send us your 2021 SUI rates

Email: cbizpayrolltax@cbiz.com 

Fax: 540-343-5279 

Mail: 2797 Frontage Road NW, Suite 2000, Roanoke, VA 24017

 

 

7 Steps to Help You Prepare for Year-End

 

We’ve provided a few tips, tricks, and reminders as you prepare for year-end. 

Step 1: Review your workers’ wages and benefits - Check the wage and benefit information for each employee to make sure you can account for all the benefits you paid them throughout the year, leading up to the final paycheck. If any benefits aren’t accounted for, add these to their last 2020 paycheck.

Step 2: Review your employees’ and contractors’ personal information - Make sure you have the correct names, addresses, and Social Security Numbers for every employee and contractor you paid in 2020. For independent contractors, you’ll also need to check that their Tax Identification Numbers (TIN) are correct, and ensure payments are recorded for any bills that need to be included on form 1099-MISC. 

Step 3: Update employee tax profiles for 2021 - Remind your employees to review their withholding allowances for federal and state income taxes. Have them complete a new Form W-4 (or state equivalent) by January 1, 2021, if their personal information or allowances have changed.  Don’t forget: W-2s must be sent to any employees you paid in 2020 who are no longer working for you!

Step 4: Bring everything together with reconciliation - If you pay your employees by check, perform a payroll bank reconciliation through December 31, 2020—including identifying outstanding checks—comparing state and federal payroll tax withdrawals from your bank account to the amounts on your tax liability records.

Step 5: Make sure your employer information is up-to-date - Review your business’ legal name, address, and Employer Identification Number (EIN) to ensure they’re correct.
Step 6: Confirm your tax profile for 2021 - Deposit requirements can change each year, so make sure you have the correct deposit information, government agencies do not notify CBIZ of these changes.  
Step 7: Verify employer tax rates for 2021 - Check your tax rates for state unemployment and disability insurance. If you’ve received a letter from any government agency with a new tax rate, please forward these to CBIZ. 

 

 

 

COVID-19: Creating the Right Office Space

Regardless of where you are in reopening your business, one point is clear: office environments are going to look different from the layouts and protocols followed prior to the COVID-19 pandemic. Organizations will have several logistics to consider as they move through their reopening plans, including how to facilitate and resolve requests and questions from their employees as well as considerations about office space modifications that they may need to work out with their landlord. 

As tenant advisors, CBIZ Gibraltar Real Estate Services works with tenants to both negotiate and renegotiate leases, as well as to assess physical environments. The following represents some of the common questions we anticipate as organizations evaluate what the COVID-19 pandemic may mean for short- and long-term changes to their physical space needs. 



 

 

Fraudulent Unemployment Claims on the Rise

fraud

Businesses around the country are reporting issues of erroneous unemployment benefit claims. In many cases, these illegitimate claims are going undetected until the business entity is contacted by a state agency, making them aware of the claim against their account.

Tips to share with your employees

  • Employees should keep an eye out for direct communications from your state unemployment office that indicates an unemployment claim in their name. Communications may come via mail, email, or phone.
  • Make sure employees know that they should report the incident to your Human Resources Department and supply any documentation (if available).

What to do if your business or employees have fallen victim

  • Report any suspected fraud to state and federal agencies. Visit the U.S. Department of Labor Unemployment Insurance fraud site to learn how to contact the fraud hotline for your state.  Visit the Federal Trade Commission identity theft recovery site to report identity theft and get a recovery plan. 
  • Report the fraud online when possible. Using online reporting options can save time, make it easier for the agency to process the request, and provide you with adequate documentation. Make sure you retain any confirmation or case numbers provided to you and keep a record of any phone conversations. Note the name of the individual you spoke with, the date of the conversation, and what was discussed.
  • For those who have fallen victim to identity theft, it is important that they keep an eye on their credit reports. This can be done for free using such services as AnnualCreditReport.com.
  • If you have additional questions please contact your CBIZ representative.

Information courtesy of the Federal Trade Commission 

 

 

The Keys to Recruiting Amid Covid-19 and Beyond


Remote_interview_2 Like most aspects of the workplace, recruiting norms have changed. While unemployment rates remain high, many employers find themselves struggling to connect with the right candidates. Even as some are receiving a high number of applicants, they encounter new challenges, such as meeting the changing needs of qualified candidates who remain in high demand.  

 According to the Society for Human Resource Management (SHRM), job seekers in today’s employment market are primarily looking for safety, consistency, stability, and longevity. Be sure to incorporate your attention to these needs into your recruiting efforts. Your businesses can boost your recruiting efforts in the current market by ensuring that your employer brand is resonating with those seeking employment. 

Meet the needs of job seekers through updated recruiting methods

    • Using online platforms
    • Being active and present
    • Aligning your employment brand and recruiting efforts
    • Participating in virtual events
    • Preparing for productive dialog

Consider making updates to your employer brand that reflects

    • Safety
    • Benefits
    • Career Focus
    • COVID-19’s impact

Many employers are expanding remote work opportunities to more employees than ever before. Remote work practices extend to the recruiting and hiring process, including virtual interviewing and remote onboarding. To keep up with your competitors, you will need to embrace these remote processes, among others. Further, some job seekers will be enticed by the opportunity to work remotely. So if this is an option for candidates, make sure it’s promoted.

Obviously, the workplace will continue to evolve, so re-evaluate how your recruitment practices and branding resonate with current employment markets on a regular basis and adjust accordingly. Additionally, as laws and guidelines related to COVID-19 are updated and added, consult with legal counsel when updating or changing your organization’s policies and procedures.

 

 

 Visit the Insights Home Page

 

The information contained in this HCM Insights is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations. This information is provided as general guidance and may be affected by changes in law or regulation. This information is not intended to replace or substitute for accounting or other professional advice. You must consult your own attorney or tax advisor for assistance in specific situations. This information is provided as-is, with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.