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Today's Business Tip
Dangerous W-2 Phishing Scam Alert
(Direct From The IRS)

  • Word count for this issue: 312
  • Approximate time to read: 1.2 minutes @ 250 words per minute

A vital alert has been issued by the IRS on an e-mail phishing scheme - a phishing scam that is spreading to many industries, school districts, not-for-profit institutions, and tribal organizations. Please read (and share) the details of the IRS alert below.
 
“The Internal Revenue Service, state tax agencies and the tax industry issued an urgent alert today to all employers that the Form W-2 email phishing scam has evolved beyond the corporate world and is spreading to other sectors, including school districts, tribal organizations and nonprofits.
 
In a related development, the W-2 scammers are coupling their efforts to steal employee W-2 information with an older scheme on wire transfers that is victimizing some organizations twice. " This is one of the most dangerous email phishing scams we've seen in a long time. It can result in the large-scale theft of sensitive data that criminals can use to commit various crimes, including filing fraudulent tax returns. We need everyone's help to turn the tide against this scheme ,'' said IRS Commissioner John Koskinen.
 
When employers report W-2 thefts immediately to the IRS, the agency can take steps to help protect employees from tax-related identity theft. The IRS, state tax agencies and the tax industry, working together as the Security Summit, have enacted numerous safeguards in 2016 and 2017 to identify fraudulent returns filed through scams like this. As the Summit partners make progress, cybercriminals need more data to mimic real tax returns.
 
Here's How The Scam Works:
 
Cybercriminals use various spoofing techniques to disguise an email to make it appear as if it is from an organization executive. The email is sent to an employee in the payroll or human resources departments, requesting a list of all employees and their Forms W-2. This scam is sometimes referred to as business email compromise (BEC) or business email spoofing (BES)." 

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  • No contracts to sign.
  • Exceptional customer service.
  • An easy-to-use payroll and timekeeping platform.
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Other Tips For You
How To Bring Your 2019 Handbook Up-To-Date

If you haven’t updated your employee handbook for 2019, it’s probably a good idea to revisit it.

Here are some essential items you should be adding to your 2019 employee handbook.

  • Background checks after employment.
  • e-Cigarette use.
  • How to report a sexual harassment issue.
  • Newly changed federal and state laws.
  • Parental leave.
  • Social media use and monitoring.
  • Telecommuting rules.
  • Wages and payroll tracking.
5-Step Employee Conflict Resolution Process
 
No workplace is entirely free from conflict. Effective managers know all workplace conflicts can be resolved. Below are steps to help you get things back on track.

  1. Establish Rules And Expectations From The Start- Participants must treat each other with respect.
  2. Describe The Conflict – Focus on specific behaviors and problems rather than people.
  3. Identify The Problem(s) - Summarize the stated concerns and take a moment to contemplate the issue at hand.
  4. Brainstorm Solutions - Generate as many possible options and rule out any that participants agree are not practical. Make sure both parties agree on how to proceed
  5. Carry Out Solution(s) And Follow Up - Immediately implement the determined solution. Check back to make sure the issue has indeed been resolved.
3 Cash Flow Problems
 (And How To Fix Them )

With so many responsibilities, some business owners and managers lose sight of a rather important aspect of business: Cash flow.

  • Amount Owed Is Too High – Keep track of your receivables and set a limit.
  • Over-Stocking Of Inventory – Carefully manage your inventory and examine it at least once per quarter. Keep careful track of what sells and what does not.
  • Overhead And Labor Costs Are Too High –If your profit margin is low, that is indicative of high costs to produce a service or product that does not sell for enough.

If you want to improve your cash flow, have your employees make it a priority to improve it. The adage of “Inspect What You Expect” could not be any more accurate than this one. 
More About Quickpay Payroll
Quickpay Payroll offers a full suite of best-in-class payroll processing and administrative services that provides a single-source, comprehensive solution designed to assist all types and sizes of businesses. With decades of experience, our team streamlines the payroll process and complements it with leading-edge tools and resources that make us the trusted partner to clients in the banking, construction, restaurant and retail industries among others.

And the industry, our community and clients are taking notice. We are proud to make investments in our company that help protect yours and are honored to be recognized for our unmatched client service and innovative products and services.
Quickpay Payroll, LLC
4902 SW 72nd Ave
Miami, FL 33155
Office: (305) 661-3462
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Copyright © Drip Marketing, Inc. All rights reserved. Any information in this publication is solely meant to provide general information for the reader and is not intended to constitute HR, financial, insurance or legal advice.