The days of waiting two weeks or more for your paycheck to hit your bank account may be numbered. In an increasingly connected world—and one in which workers have higher expectations of their employers—employees are looking for something a little more immediate. Enter instant pay benefits. These programs, which have become more popular in recent years, allow employees to withdraw money directly from their paycheck ahead of their designated payday in exchange for a small fee.
Instant Pay Benefits Booming in Popularity Among Generation Z Workers
SHRM | Aug 2023
Earned Wage Access (aka On-Demand Pay) Checklist for Employers
Fisher Phillips | Jan 2023
Implementing Earned Wage Access is Easier Than You Think
HR Professionals Magazine | Aug 2023
Earned Wage Access: What You Need to Know About This Increasingly Popular Payroll Benefit
Inc. | Jul 2023
Podcast: Earned wage access: Early payday or payday loan?
American Banker | Jul 2023
SHRM MEMBERS' SURVEY: Tell us what you think about the Express Request self-service feature in four quick questions.
Tax Considerations
Treasury's On-Demand Pay Proposal Shows IRS's Concern with Constructive Receipt
Thomson Reuters | May 2023
Treasury Department's Greenbook Discusses Tax Treatment of On-Demand Pay
Littler | Mar 2023
Treasury Reiterates Position on "On-Demand" Pay
Covington | Mar 2023
On-Demand Pay: Employees Love It, But Tax Implications Linger
Ogletree via SHRM | Sep 2022
States Governments Taking Notice
Missouri joins state efforts to regulate earned wage access providers
Ballard | Aug 2023
Maryland Issues Guidance on Earned Wage Access Products
Troutman | Aug 2023
States Enact Laws Regulating Earned Wage Access Services
Latham | Aug 2023
States Set Collision Course Over Pay-on-Demand for Earned Wages
Bloomberg Law | Aug 2023
Missouri Becomes Second State To Enact Law Regulating Earned Wage Access Services
Nevada Enacts First-Of-Its-Kind Licensing Law For Earned Wage Access Services
Goodwin | Jun-Jul 2023
Arizona AG: Earned wage access products are not loans
Buckley | Jan 2023
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