E very year the U.S. federal government adjusts tax- and labor-related figures for the following year. These are based mostly on the Labor Department’s year- over-year Consumer Price Index (CPI) released by the Bureau of Labor Statistics. There are several announcements that start in the summer and generally go through the fall
that are actionable, and some were delayed this year due to the government shutting down in October and November. These changes need to be identified for adjusting pay systems. Many of them are incremental, but significant for payroll since they should be accounted for by the first employee payments in January.
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ISSUE 18 GLOBAL PAYROLL MAGAZINE
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