It’s About Payroll Brian & Walter

 | Pay News Updates!  Walter https://federalnewsnetwork.com/veterans-affairs/2024/05/va-rule-change-could-mean-health-care-benefits-for-a-million-more-veterans/  The Department of Veterans Affairs has made a major change in the rules for veterans who left military service with other-than honorable discharges. It opens the possibility of healthcare coverage for those who may have been discharged for willful misconduct or even moral turpitude. For detail, the Federal Drive with Tom Temin spoke with Anthony Kuhn, managing partner of the law firm Tully Rinckey  Brian  NY Gov tries to increase NYC mobility Tax after congestion pricing was rejected.  https://www.politico.com/news/2024/06/06/payroll-tax-hike-hochul-rejected-00162136  Effective July 1, 2024 a final rule that expands overtime protections for millions of the nation’s lower-paid salaried workers by increasing the salary thresholds required to exempt a salaried bona fide executive, administrative or professional employee from federal overtime pay requirements. The salary threshold will increase to the equivalent of an annual salary of $43,888 and increase to $58,656 on Jan. 1, 2025. This means that millions of additional workers will be required to track time and attendance.  Whether they are new to time tracking or looking to make a change, TimeTrakGO provides a simply better solution that can have you up and running in a matter of minutes.  If you follow the link in our episode notes, you also get your first month free. Don't miss out! To take advantage of this special offer, use the link in the show notes to start your 14-day trial in the month of June to qualify for your first month free. GO to www.timetrakGO.com that’s T-I-M-E-T-R-A-K-G-O .com or call 888-321-9922.  Let’s GO!  Link: https://www.timetrakgo.com/signmeup?utm_source=SMB24&utm_medium=IAP&utm_id=SBM24    
    
 

TALK ABOUT PAYROLL CONGRESS !
Pay News Updates! In a 2020 LinkedIn article, Rene Brofft, Owner of Paytech, discusses red flags in payroll processes that could indicate potential fraud. Brofft emphasizes the importance of recognizing these signs to prevent financial losses and reputational damage for businesses. By identifying suspicious activities early, companies can take proactive measures to investigate and mitigate potential risks.Key Points:Unusual Overtime Patterns: Significant fluctuations in overtime hours or sudden spikes in overtime expenses can signal fraudulent activities, such as falsified time records or unauthorized work.Frequent Manual Adjustments: Excessive manual adjustments to employee records, especially without proper documentation or approval, may indicate attempts to manipulate payroll data for fraudulent purposes.High Employee Turnover Rates: Rapid turnover rates or a disproportionate number of terminated employees in a short period could suggest payroll fraud, such as fictitious employees being added or terminated to divert funds.Unexplained Payroll Discrepancies: Discrepancies between expected and actual payroll expenses, including discrepancies in tax withholdings or benefit contributions, should be investigated promptly to identify potential fraud or errors.Employee Complaints or Whistleblower Reports: Complaints from employees regarding payroll inaccuracies or suspicions of fraudulent activities should not be dismissed and should prompt further investigation to address underlying issues.Prevention Measures:Implement robust internal controls and segregation of duties within the payroll process to prevent unauthorized access and manipulation of payroll data.Conduct regular audits and reviews of payroll records to detect anomalies and ensure compliance with company policies and regulatory requirements.Provide training and awareness programs for employees to recognize and report potential payroll fraud or irregularities.Establish channels for anonymous reporting of suspected fraudulent activities, encouraging whistleblowers to come forward without fear of retaliation.Utilize technology solutions, such as payroll software with built-in fraud detection features, to automate processes and enhance accuracy while reducing the risk of human error and manipulation.https://www.businesswire.com/news/home/20240529393008/en/Payroll-Sector-Benefiting-from-Technology-Led-Progression-Reveals-Annual-CloudPay-Payroll-Efficient-Index-ReportREAD FROM Top half of article. Effective July 1, 2024 a final rule that expands overtime protections for millions of the nation’s lower-paid salaried workers by increasing the salary thresholds required to exempt a salaried bona fide executive, administrative or professional employee from federal overtime pay requirements. The salary threshold will increase to the equivalent of an annual salary of $43,888 and increase to $58,656 on Jan. 1, 2025.This means that millions of additional workers will be required to track time and attendance.  Whether they are new to time tracking or looking to make a change, TimeTrakGO provides a simply better solution that can have you up and running in a matter of minutes.  If you follow the link in our episode notes, you also get your first month free.Don't miss out! To take advantage of this special offer, use the link in the show notes to start your 14-day trial in the month of June to qualify for your first month free.Link: https://www.timetrakgo.com/signmeup?utm_source=SMB24&utm_medium=IAP&utm_id=SBM24


https://constructioncitizen.com/blog/shell-company-operators-sentenced-multi-million-dollar-wire-and-payroll-fraud-scheme/2311091Chief United States District Court Judge Timothy J. Corrigan sentenced two Honduran nationals, Omar Wilkin Santos-Calix and Oscar Rene Santos-Santos, to 24 months in federal prison for wire and tax fraud conspiracies. Santos-Calix must pay $3,245,161 in IRS restitution and $897,870 in a money judgment, while Santo

Overcoming Tax Anxiety: Tips & Strategies | Safe Talk Episode 12
In Episode 12 of Safe Talk, hosts dive deep into the widespread issue of tax anxiety as tax season approaches. They discuss the fear and stress related to tax complexity, mistakes, financial impact, time consumption, and privacy concerns. The episode highlights real-life challenges faced by individuals, especially self-employed and those with multiple income sources. With advice on early planning, budgeting, utilizing technology, and seeking professional guidance, the hosts aim to help listeners combat their tax-related anxieties. Sponsored by TimeTrak GO, this episode provides a safe space to deliberate and find solutions for tax preparation stress.
00:00 Introduction to Tax Anxiety00:40 Welcome to Safe Talk Episode 1200:59 Discussing Tax Brackets and Inflation02:24 Why We Get Anxious About Taxes02:31 Sponsor Message: TimeTrak GO03:35 Complexity and Fear of Mistakes04:09 Financial Impact and Self-Employment05:57 Privacy and Security Concerns08:19 Past Experiences with Tax Preparers11:57 Tips to Combat Tax Anxiety15:49 The Value of Professional Tax Help17:33 Embracing Technology for Tax Filing19:36 Budgeting for Tax Liabilities21:13 Maximizing Deductions and Credits22:10 Practicing Self-Care During Tax Season23:12 Communicating with Employers About Taxes25:39 Key Takeaways and Final Thoughts31:08 Upcoming Topics and Season Preview32:06 Closing Remarks and Community Engagement

We're joined by Anthony Straham as we discuss what he would like to see more of as an employee. 

Mastering Customer Service in Payroll: Insights and Strategies
This podcast episode features hosts Brian Escobar and Walter William Duncan II discussing the importance of customer service in payroll and HR. The episode focuses on identifying and rectifying bad examples of customer service, emphasizing communication breakdowns, inefficient issue resolution, lack of accessibility, inadequate training, and ignoring employee feedback as core areas of concern. The hosts share personal anecdotes and stress the necessity of a customer-centric approach, continuous training for payroll professionals, proactive feedback gathering, and prioritizing the employee experience. Additionally, they introduce TimeTrack Go, a time clock software solution, highlighting its compatibility with QuickBooks and its potential to streamline payroll processes. The conversation concludes with reflections on the impact of poor customer service on emotions like frustration, anger, disappointment, stress, and helplessness, advocating for empathy, effective communication, and transparency in payroll operations.
00:00 Welcome to the Payroll Podcast!00:44 Diving Into Customer Service Conversations01:15 A Floridian's Cold Weather Tales03:12 Exploring Bad Customer Service in Payroll05:35 Improving Payroll Customer Service: Strategies and Solutions15:35 The Emotional Impact of Poor Customer Service17:05 Navigating Customer Service Challenges17:47 The High Stakes of Payroll Services19:01 Dealing with Irate Customers: Strategies and Stories20:49 The Emotional Impact of Poor Customer Service24:59 Leadership and Customer Service: A Manager's Perspective27:58 Closing Thoughts on Customer Service Excellence

Empathy in Payroll: A Conversation with Amy Travis
 
This episode of 'It's About Payroll', hosted by Brian Escobar and Walter William Duncan II, delves into the significance of empathy in the payroll profession. The hosts share their personal journeys and growth towards understanding and advocating for empathy in the workplace. Special guest, Amy Travis, CPP and soon-to-be president of the Greater Atlantic Payroll Association, shares her unique entry into the payroll field, starting from buttering garlic bread to ascending into leadership. She emphasizes the importance of empathy, especially in leadership positions, to foster a supportive and efficient team environment that enhances both employee satisfaction and performance. The episode also covers potential dangers of modern technologies like AI and the necessity of continuous vigilance against payroll fraud. Additionally, a discussion on the impact of company culture on payroll departments, whether they fall under finance or HR, is explored, highlighting the evolving focus on the human element in HR. Amy Travis' story of perseverance and her emphasis on the importance of empathy in payroll make for an enlightening conversation.
 
00:00 Introduction to the Payroll Podcast
00:30 Celebrating Milestones and Personal Growth
01:34 Special Guest Announcement: Amy Travis
02:07 Deep Dive into Empathy and Personal Evolution
02:57 Payroll News Segment: Tackling Payroll Fraud
11:49 Exploring Technological Solutions to Prevent Fraud
19:10 Guest Spotlight: Amy Travis's Payroll Journey
22:15 Choosing a Career Path: Payroll or Dental Assistant?
22:44 The Professionalism and Planning Behind the Scenes
23:56 Empathy in Payroll: A Deep Dive
25:49 Building an Empathetic Team: Strategies and Successes
26:46 The Ripple Effect of Empathy in the Workplace
27:33 The Importance of Employee Experience in Today's Workforce
29:05 Navigating the Current Job Market: Insights and Advice
39:25 Exploring the Role of Empathy in Payroll Careers
43:39 Why We Love Payroll: A Personal Insight
45:01 Closing Remarks and Community Engagement
 
Link: https://www.timetrakgo.com/signmeup?utm_source=SMB24&utm_medium=IAP&utm_id=SBM24
 
WALT 
https://tax.thomsonreuters.com/news/payroll-fraud-in-the-news-types-of-fraud-and-how-to-prevent-it/#:~:text=A%20recent%20report%20released%20by,loss%20of%20$2%2C800%20per%20month
 
Key Points from the Article:
 
1. **Prevalence of Payroll Fraud**: Association of Certified Fraud Examiners (ACFE) revealed that Payroll fraud makes up 15% of all occupational fraud schemes in the United States and Canada. It often goes undetected for an average of 18 months, resulting in an average loss of $2,800 per month.
 
2. **Industries Affected**: While no industry is immune, payroll fraud is most common in the construction industry and in government and public administration.
 
3. **Common Types of Payroll Fraud**:
   - Payroll diversion through phishing tactics.
   - Ghost employees, where non-existent employees receive wages accessed by fraudsters.
   - Overpayment schemes, such as inflating overtime payments.
   - Embezzling withholding, involving pocketing legitimate withholdings from wages.
   - Expense reimbursement fraud, including padding expenses or submitting fictitious expenses.
 
4. **Prevention Strategies**:
   - Educating employees about phishing threats.
   - Implementing two-factor authentication.
   - Segregation of duties in employee onboarding and termination.
   - Running exception reports to detect unusual patterns.
   - Requiring original receipts for expense reimbursement.
 
5. **Future of Technology Solutions**:
   - The use of AI and machine learning for fraud detection is expected to nearly triple over the next two years.
   - Despite technological advancements, vigilance remains crucial as technology can both enable and prevent fraud.
 
6. **Ongoing Vigilance**: Employers and accounting professionals should remain vigilant even with