Learn More<\/div><\/div><\/div><\/div>\n\n\n\n
<\/p>\n\n\n\n
1. Conduct a check on records and payrolls<\/h3>\n\n\n\n
An important job that the HR department does is to keep clean records of all data, including employee details and payroll details. And it\u2019s critical that by the end of the year, all these records must be cross-checked to fill any required gaps.<\/p>\n\n\n\n
The HR department is responsible and must conduct a payroll audit to make sure that employee time-off, leave accounts, tax deductions, and wage deductions are all accounted for and accurately calculated. Upon the completion of the audit, the final payroll must be confirmed. Once the payroll is confirmed, the HR department or payroll department can take forward the procedure for filing the annual tax forms and applications.<\/p>\n\n\n\n
Remember that it\u2019s also the HR department\u2019s responsibility to keep a record of all employees properly documented as per FLSA (Fair Labor Standards Act).<\/p>\n\n\n\n
2. Update Policies<\/h3>\n\n\n\n
For a developing organization, it\u2019s common to change policies and work procedures on an annual basis. And since state and federal laws are constantly changing too, it\u2019s critical to make sure your policies are updated to stay compliant with the laws at all times.<\/p>\n\n\n\n
Ensure that your vacation policies, sick-leave policies, and leaves of absence are compliant with FLSA. And make the necessary changes to organizational policies, as per board decisions for the new year.<\/p>\n\n\n\n
3. Create your next year’s Calendar<\/h3>\n\n\n\n
HR departments are required to have certain areas of the work pre-planned for the smooth and productive start of the new year. Make a calendar to mark all the specific dates, plans, and schedules to keep track of procedures. This would also work as a reminder for your employees to be aware of the deadlines. And for the HR department to know the deadlines for tax filings and report submission.<\/p>\n\n\n\n
4. Filing year-end tax forms<\/h3>\n\n\n\n
The HR department is required to file tax forms for employees at the end of each year to the IRS. Forms 941 and 940 must be filed for the tax returns, and file forms 1099-NEC & 1099-MISC for non-employee payments and other payments.<\/p>\n\n\n\n
Final Words<\/h3>\n\n\n\n
The HR department holds a great responsibility in any organization, hence they must make sure to stay updated on the laws and ensure to be in compliance with them. Their responsibility doesn\u2019t end there, the HR department must also make sure to complete their tasks in a timely manner, so as to avoid any legal pitfalls that follow the errors they might make.<\/p>\n","protected":false},"excerpt":{"rendered":"
The end of the current year and the start of a new year are always fun for employees, but not the departments that need to get the work done. The…<\/p>\n","protected":false},"author":4,"featured_media":3269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[4],"tags":[],"class_list":["post-3268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hr-blog"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/posts\/3268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/comments?post=3268"}],"version-history":[{"count":2,"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/posts\/3268\/revisions"}],"predecessor-version":[{"id":5253,"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/posts\/3268\/revisions\/5253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/media\/3269"}],"wp:attachment":[{"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/media?parent=3268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/categories?post=3268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.complianceprime.com\/blog\/wp-json\/wp\/v2\/tags?post=3268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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