The bipartisan infrastructure law is changing the way businesses need to operate. Are you ready?
Don't let your business fall behind. Keep up-to-date on the latest changes with today's blog post. Let's take a closer look!
What Is the Davis-Bacon Act?
The Davis-Bacon Act requires that federally funded contractors pay workers prevailing wages. This helps to ensure fair treatment and the appropriate compensation for their work. It also helps make the playing field more level and fair for contractors, ensuring all contractors are paying their workers the same.
The Davis-Bacon Act is a law that sets the wages for workers on federal or D.C. contracts. In addition, the law requires that the Department of Labor determine the locally prevailing wage rates.
These provisions apply to a variety of federally funded construction projects. This act also ensures fair payment for workers working on these critical projects.
What does the bipartisan infrastructure law do? First, it is a law that ensures payment for workers at a rate of at least one and one-half as much as their normal pay for all hours worked over 40 in a workweek. This law applies to prime contracts over $100,000, as well as to subcontractors.
How Does the Bipartisan Infrastructure Law Protect Workers?
Contractors have to put up the Davis-Bacon Employee Rights poster. They must also put up any wage determinations and approved conformance.
Contractors must pay their workers the prevailing wage for the work that they do. This includes the correct labor classification(s). They must pay workers weekly, except for contributions to bona fide fringe benefit plans, which can be made quarterly.
The bipartisan infrastructure law will help ensure that state safety programs are strong. This will include better rail inspection practices, protecting transit workers and riders, and ensuring that everyone has safe access to transportation.
The FTA's Public Transportation Safety Program updates will help states have more robust safety oversight programs. This will lead to better safety training. It will reduce assaults on vehicle operators, and help transit agencies create safety plans.
In addition, there will be measures put in place to reduce accidents involving buses and pedestrians.
Further, this law provides whistleblower protections for employees of transportation agencies. These protections ensure that workers feel safe coming forward about potential safety concerns.
The bipartisan infrastructure act is a comprehensive piece of legislation. It protects workers, ensures fair payment, and improves communication between agencies. In addition, the law will help to make our transportation system safer for everyone.
What Does This Mean for Certified Payroll Reporting?
It is required that publicly funded construction projects report paid wages. Contractors and subcontractors must turn in a certified payroll report to the Department of Labor every week.
The reports are obligated to include the name, address, and social security number of each worker. They must also include the number of hours worked and the total wages paid. The reports help ensure that workers are being paid the prevailing wage rates for their area.
What Are the Requirements to Meet for Certified Payroll Reporting?
You need to meet a few requirements to correctly complete certified payroll reporting. First, you need to have the proper documentation. This includes your employee's name, social security number, dates of work, total hours worked each day, and hourly pay rate.
You will also need to list any deductions made from their paychecks.
Second, you need to ensure that all employees are offered fair payment according to the Davis-Bacon Act. This means they must be paid the prevailing wage for their area and classification.
Finally, you will need to submit your certified payroll reports weekly. By doing this, you can make sure that your certified payroll reporting is compliant.
What Happens if a Contractor or Subcontractor Does Not Comply With the Davis Bacon Act?
If a contractor or subcontractor is found to be in violation of the Davis Bacon Act, they may be subject to civil and criminal penalties. These can include fines, imprisonment, and debarment from future federal contracts. In addition, the Department of Labor may order the contractor to pay back wages to employees who were not paid properly.
How Can Certified Payroll Reporting Software Help Avoid Penalties?
This type of software can help contractors who must submit this type of report to their clients. Certified payroll reports show how much money employees make. And it shows how many hours they worked.
The right software is a big help. Here are just some of the ways it can help you:
- Save time on data entry and reporting
- Reduce the chances of making mistakes
- Easily generate reports for auditing purposes
- Get real-time updates on employee hours and earnings
- Ensure compliance with government regulations
Certified payroll reporting is essential in ensuring that employees are paid fairly, and that the correct amount of taxes are being withheld.
Certified payroll reports can also verify eligibility for government benefits.
Again, this software helps ensure that this information is accurate and up-to-date. This gives contractors peace of mind and helps to protect their business.
Frustrated With Prevailing Wage Reporting?
As a business owner, it's important to stay up-to-date on the latest laws and regulations that could impact your bottom line. The bipartisan infrastructure law protects workers by ensuring they are paid fair wages.
Points North is well prepared to help you overcome the challenges of certified payroll reporting. We offer simple and stress-free software, automating your workflow and reducing the chances of human error.
Contact us today to see how our software can positively impact your business's bottom line!
