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For all practical and legal purposes, forever. Depending on the State the employer and employee are in the money MUST be turned over to the UNCLAIMED FUNDS department of that state. The time limit to default to themis between 3 and 6 years (depending on the State). The government then tried (theoretically) to find the owner...this is the unclaimed funds info you see published in the paper every so often and consumer news reports about...finding people, some with suprisingly large amounts of money, that never claimed it...from things like bank accounts, pay, Accounts Payable, stock, etc. This "escheat funds" or unclaimed funds requirement is getting an increasingly larger amount of review and such by each government..not paying over the funds not only maintains the employers liability, but exposes them to sustantial penalties.
What else can I help you with?
Can payroll checks be cashed by the employer and then deposited in the employers acct?
No, payroll checks should not be cashed by the employer or deposited into the employer's account. Payroll checks are intended for the employee and represent their earned wages. If an employer cashes or deposits the check, it could be considered a violation of labor laws and could lead to legal repercussions. Employers must ensure that employees receive their wages directly.
What happens to uncashed checks when someone dies?
When someone dies, uncashed checks they received may need to be included as part of their estate and distributed according to their will or state laws.
Am I legally responsible for child support if my child turned 21 and several child support checks were not cashed by the custodial parent?
As for the uncashed checks, you will need to talk to an attorney on that one. As for the age, check links below.
By dividing your monthly payroll check into two checks are you saving payroll taxes?
Employer - NO. Employee - probably not. In fact you are probably setting yourself up to owe income taxes at the end of the year.
What is payroll signature?
A payroll signature is the authorized signature for payroll checks.
What is the expiration period for uncashed checks?
The expiration period for uncashed checks varies by state, but it is typically between 6 months to 3 years. After this period, the check may be considered stale-dated and the funds may be turned over to the state as unclaimed property.
Should health insurance be deducted from paycheck before or after taxes?
Normally it is before...it is a non taxable fringe benefit. (MCCain wants to change that). My employer said it is not. I believe there is a scam that my employer is doing with our payroll checks.
havent receive my checks yeah who can i ask what happen?
If you haven't received the checks from an employer, contact their payroll department. If you haven't received the checks from the bank, first talk to a teller, then the bank manager. If they state checks have been sent and you haven't gotten them in 10 days, ask for a reissue of the checks (new ones).
What to do with old payroll checks?
Shred them.
Does sheets cash payroll checks?
No
How long are payroll checks typically valid for before they expire?
Payroll checks are typically valid for six months before they expire.
Why are the amounts withheld from employees' payroll check a liability of the employer?
Amounts withheld from employees' payroll checks are considered a liability for the employer because these funds are not the employer's property; instead, they are owed to third parties such as tax authorities, retirement plans, and other benefit providers. The employer has a legal obligation to remit these withholdings on behalf of the employees, which creates a financial responsibility. Until these amounts are paid to the respective entities, they represent a liability on the employer's balance sheet.
