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Tax Season Lessons: The Importance of a Paycheck Checkup

October 1, 2019 | posted by Abacus Payroll
In years past, the IRS has encouraged taxpayers to double-check their form W-4s to ensure that they’re paying the right amount in taxes—often to no avail. Even if you haven’t suffered the repercussions of an out-of-date W-4, here are a few steps you can take to make sure you don’t have an unexpectedly high tax […]
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Withholding Updates: A New Form W4 and a New IRS Withholding Tool

August 12, 2019 | posted by Abacus Payroll
11 Questions Your Employees Might Be Asking An important deduction taken from paychecks each pay cycle is the amount of federal tax withholding an employee tells their employer to set aside based on what they submit on their Form W-4. This past tax season was the first under tax reform and new withholding tables, and […]
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The Tax Cuts and Jobs Act & You: Payroll in 2018

February 7, 2018 | posted by Abacus Payroll
Each year brings new changes in how employers and employees alike must handle the following tax season, and 2018 is no different. Thanks to the recently passed Tax Cuts and Jobs Act, you can expect changes to the way that you handle tax documents, exemptions, tax rates, fringe benefits, and more in the coming tax […]
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Updating Your W-4 Form: When and Why?

October 26, 2015 | posted by Abacus Payroll
Abacus Payroll W-4 Form
The IRS W-4 Form tells an employer how much to withhold from each paycheck to pay your taxes each Tax Day. You can adjust this amount, which can increase or reduce the amount of a refund you receive the following year. IRS W-4 Forms tell employers how much in taxes to withhold from employees’ paychecks […]
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3 Areas to Assess in a Midyear Payroll Review

July 15, 2015 | posted by Abacus Payroll
It’s hard to believe we are already more than halfway through 2015. While June and July can be slower months for business, it’s an opportune time to assess your company’s processes and perform a midyear payroll review. Following are three actions a business owner, HR specialist, or payroll processor should assess before any problems build […]
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