Payroll

The Treasury Department and the Internal Revenue Service have released on Friday a redesigned Form W-4 for tax year 2020, making a number of changes to earlier draft versions of the form after hearing complaints from tax professionals.

Private sector employment rose by 156,000 jobs in July, according to payroll giant ADP, even as some small businesses lost jobs.

Wage growth and hours worked climbed at small businesses in July, although the rate of job growth dipped slightly, according to Paychex.

Wages grew at an average rate of 4.0 percent over the past year, increasing the average wage level by $1.09 to $28.54 an hour in the second quarter of the year.

The legislation would gradually raise the minimum wage by 2025 from its current level of $7.25 but is unlikely to advance in the Senate.

Accountants can promote their practices and create customized marketing videos, brochures and blog content.

The Internal Revenue Service is allowing employers to truncate taxpayer identification numbers to protect employees from identity theft.

Employment growth slowed down last month, particularly among the smallest companies.

Small business job growth declined 1.09 percent year-over-year in June, but hourly earnings growth rose for the third consecutive month, according to payroll giant Paychex.