So, if the person in charge of payroll plans to take a few days off when payroll is due, make sure that it is submitted early or that you have it covered. Keep in mind that many employees take additional vacation days surrounding these holidays. **For the vast majority of Federal employees, the Monday after a holiday is considered to be a holiday for the purposes of pay and leave. *As noted by the U.S Office of Personnel Management, most Federal employees will treat the Friday before a holiday that falls on a Saturday as a holiday for pay and leave purposes if that Friday falls on a workday. Christmas Day – Monday, December 25, 2023.Thanksgiving Day – Thursday, November 23, 2023.Veterans Day – Friday, November 10, 2023*.Columbus Day – Monday, October 09, 2023.Independence Day – Tuesday, July 04, 2023.Juneteenth National Independence Day – Monday, June 19, 2023.Washington’s Birthday – Monday, February 20, 2023**.New Year’s Day – Monday, January 02, 2023*.Since your employees will not be receiving their direct deposit on holidays, you’ll want to ensure you review your next scheduled check date for accuracy and alter the run date to accommodate the holiday if it needs to be adjusted. The ACH is an electronic network for financial transactions in the United States and is used for business-to-business payments, direct deposit of payroll, consumer bills, Social Security, e-commerce payments, and tax payments. Some employees may still be able to deposit and cash checks at their banks if they are open.Īlthough the direct deposit is electronic, it cannot be processed on holidays due to the Automated Clearing House (ACH) following the same rules as the reserve. This is what prevents the deposits from going through. However, even if a bank is open and the Federal Reserve is closed, there is no actual movement of money. Nowadays, a lot of banks are actually open on holidays. As such, here are some tips to make sure your payroll doesn’t put a damper on everyone’s holiday spirit. Nothing is worse than realizing that your employees will not be paid until after the holiday when you already assured them that you would have it done before. But how do you navigate when payday falls on a holiday? Who doesn’t enjoy being rewarded for their efforts, after all? It’s critical for your business to deliver your employee’s payroll compensation on time. CNN Sans ™ & © 2016 Cable News Network.For many people, payday is a very exciting day. Business Columbus Day 2022: What’s open, what’s closed on Monday UPS, FedEx, banks, mail delivery, stock markets, stores, restaurants Updated: Oct. ALL banks will be closed on Friday, Sunday & Monday, SOME banks may be open on Saturday - though they will tend to be the central branches and may not be open all day. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Government buildings will be closed on Monday because of the federal holiday, including the DMV, libraries and government offices. Make sure to check with local retailers to see if they will be observing the holiday. Major retailers and grocers will be open tomorrow, including Walmart, Target and other major chains. However, all FedEx services will be operating, including Express and Ground shipping. The United States Postal Service will be closed and will not deliver mail or packages. The New York Stock Exchange and Nasdaq will be operating. The nation’s two largest banks, Bank of America and JPMorgan Chase will not be open on Monday. Though many banks will be closed, some – notably TD Bank – will remain open. And as of 2021, more than 130 cities replaced Columbus Day with Indigenous People’s Day. Some states officially celebrate Indigenous People’s Day and others commemorate it through proclamations. President Joe Biden formally recognized Indigenous People’s Day last year by signing a proclamation stating that Federal policies “systematically sought to assimilate and displace Native people and eradicate Native cultures.” The federal holiday is always celebrated the second Monday of October. Columbus Day, and now Indigenous People’s Day, will be observed on Monday, October 10 this year, and while some will have the day off from work or school, others may wonder what errands they can run or what movies to see.
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