The Government Stuff
Don't be intimidated - dealing with the government isn't so bad.Need some guidance on how government requirements apply to your business? You've come to the right place. We've cut through the legal jargon to help you handle the most common employment law issues with ease.
Calculate your employee's paychecks correctly: W-4 forms
The IRS requires every employee at the time of hire to complete a Form W-4, Employee's Withholding Allowance Certificate. The form indicates the employee's marital status and number of allowances, so you can determine the amount of federal income tax to withhold from the employee's paycheck. Tips:
Verify your employee's eligibility: I-9 forms
Under federal law, you must verify and document that employees are eligible to work in the United States with a Form I-9, Employment Eligibility Verification. Failing to review certain documents, as listed on the form, can result in costly penalties. Tips:
Report your new hire to the state
All states require you to report new hires, which aids in the collection of child support and the monitoring of unemployment compensation, workers' compensation and other public programs. In most states, you can meet this requirement by submitting a copy of the employee's W-4. In addition, most states allow you to submit the documentation electronically. But be sure to find out your state's policy since laws differ.
Display updated labor law posters
If you have at least one paid employee, you must display the most current federal and state labor law posters at all company locations and in job applicant areas. These postings include minimum wage guidelines, overtime standards, OSHA regulations and many others. Failure to display these posters puts your business at risk for government fines.
With an average of 75 labor law changes a year1, it's hard to stay compliant. Luckily you can enjoy worry-free labor law compliance with Intuit Poster Compliance Service. There is no easier way to keep your business in posting compliance with labor laws. Intuit Poster Compliance Service includes: a Federal and State poster kit, $17,000 guarantee against fines2, FREE automatic poster replacements, and FREE shipping on all posters.
Visit www.intuitmarket.com/compliance or call 800.556.0879 to subscribe.
Get workers' compensation insurance
Protect your business if a worker gets injured on the job.
What is workers' compensation insurance and why do I need it? Required for almost all employers, workers' compensation insurance is insurance meant to protect your company from liabilities in case a worker suffers an injury while on the job. The premium you pay depends on the category of your employee. Without adequate workers' compensation insurance, if one of your employees is injured on the job, you may be held personally liable for both the cost of their medical care and for the lost wages while the employee is unable to work.
Click here to learn more about workers' compensation.
Will I need to make a large down payment? No. Some services, such as The Hartford's XactPAY Web® service, enable you to pay your workers' compensation premiums one payroll at a time, eliminating down payments. The The Hartford's XactPAY Web® service is free to Intuit QuickBooks Payroll subscribers with Hartford-issued workers' compensation policies.