WHD issues guidance on white collar exemptions
On April 12, the Department of Labor released a fact sheet that discusses the applicability of the “white collar” exemptions of the Fair Labor Standards Act (FLSA) to jobs that are common in higher...
View ArticleKentucky legislature enacts tax law, overriding Governor’s veto
The Kentucky Legislature voted to override Gov. Matt Bevin’s veto of legislation that made extensive changes to Kentucky corporate and personal income tax provisions. The legislation updates the...
View ArticleNE restores personal exemptions, sets standard deductions
Nebraska Governor Pete Ricketts has signed legislation that, among other things, restores the personal exemption credit that was eliminated in the Tax Cuts and Jobs Act (TCJA). It also establishes the...
View ArticleUSCIS says E-Verify program is modernized
On April 23, USCIS announced the E-Verify program modernized its system to improve users’ experience, reduce errors, and increase the speed and accuracy of the employment eligibility verification...
View ArticleIRS issues guidance on tip reporting
Generally, income received in the form of tips is taxable. The IRS has issued some guidance to help employees correctly report the income they receive as a tip: Use the Interactive Tax Assistant. The...
View ArticleIndiana updates substitute forms guidelines
Indiana has updated its substitute form guidance. Technical changes were made in this version of the notice to delete a previous requirement that software developers provide the completed spreadsheet...
View ArticleNorth Carolina updates withholding booklet; no new tables
North Carolina has updated its withholding tables publication. Child tax deduction. During the 2017 legislative session, the state converted North Carolina’s child tax credit to a child deduction. The...
View ArticleOklahoma changes reconciliation due date
The due date for the annual personal income withholding tax reconciliation return is changed from February 28 to January 31. (Ch 66, H.B. 3156, Laws 2018, approved April 23, and effective July 1, 2018....
View ArticleIdaho issues new withholding tables for 2018
Idaho has issued new withholding tables for wages paid on and after January 1, 2018. Employers do not need to go back and readjust. Simply implement them as soon as possible. All of the tables will be...
View ArticleInflation adjusted HSA limit changed back to $6,900
For 2018, taxpayers may treat $6,900 as the annual limitation on the deduction for an individual with family coverage under an HDHP after all. The IRS initially released inflation adjustments for HSAs...
View ArticleMichigan deadline changed, E-Filing requirement enacted
Beginning with the 2018 tax year, the Michigan withholding statement and annual reconciliation return are due on January 31. For tax years before 2018, the deadline was February 28. Employers with more...
View ArticleNebraska has a personal exemption credit, standard deduction
Recently enacted Nebraska legislation creates a personal exemption credit, establishes a Nebraska standard deduction, and adjusts personal income tax brackets based on the Consumer Price Index for All...
View ArticleNew Jersey enacts paid sick leave legislation
New Jersey Governor Phil Murphy on May 2 signed into law expansive paid sick leave legislation. New Jersey now joins a select group of states—nine plus the District of Columbia—that have enacted paid...
View ArticleKentucky issues new withholding tables
In response to recent legislation (see Payroll Management Guide Report Letter 1517/2553, dated April 24, 2018), Kentucky has issued new wage-bracket and formula withholding tables. Kentucky enacted a...
View ArticleIRS issues guidance on amounts exempt from levy
The IRS has issued guidance on figuring the amounts that are exempt from levy. The guidance was issued because the amounts are determined using exemptions rather that dependents due to the Tax Cuts and...
View ArticleHere’s the status of DOL’s upcoming regulatory agenda plans
The Office of Information and Regulatory Affairs has the U.S. Department of Labor’s upcoming unified regulatory agenda on the Internet. The agenda demonstrates the Administration’s ongoing commitment...
View ArticleIRS highlights WOTC for employers
IRS highlights WOTC for employers The IRS is reminding employers to avail of the Work Opportunity Tax Credit (WOTC). The WOTC is generally based on wages paid to eligible workers. Special calculation...
View ArticlePotential implications of expanding private disability insurance
Social Security Disability Insurance (SSDI), which is administered by the SSA, provides financial and other assistance to qualifying individuals who are unable to work due to their disabilities. SSDI...
View ArticleIRS issues 2019 HSA inflation amounts
The IRS has released the 2019 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2019, the annual limitation on deductions under Code Sec. 223(b)(2) for an...
View ArticleIRS requests comments on Forms 1099-R and 1096
The IRS is requesting comments on Forms 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.; and Form 1096, Annual Summary and...
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