IRS issues 2016 inflation adjustments for HSAs
The IRS has provided the 2016 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under Internal Revenue Code Sec. 223. Annual contribution limitation For calendar year...
View ArticleIRS’s private delivery services list changed
The IRS’s list of designated private delivery services (PDSs) has been updated to add four new delivery services to the list of designated delivery services, and five delivery services previously...
View ArticleIRS requests comments on Form 4670
The IRS is soliciting comments concerning Form 4670, Request for Relief of Payment of Certain Withholding Taxes. A payor who fails to withhold certain required taxes from a payee may be entitled to...
View ArticleInterest accrued on FUTA tax if employer failed to pay by January 31
Interest accrued on FUTA tax underpayments when the employer failed to pay the balance due by January 31. FUTA taxes computed for the calendar year, but not yet deposited per Code Sec. 6157 and Reg....
View ArticleMT penalties, withholding provisions amended for pass-through entities
Recently enacted Montana legislation limits the penalty for pass-through entities that fail to file a required report to a maximum of $2,500 per tax period applicable to tax years beginning after...
View ArticleTIGTA issues report on IRS’s ACA compliance readiness
In a new report, the Treasury Inspector General for Tax Administration (TIGTA) assessed the IRS’s preparations for compliance with the Minimum Essential Coverage (MEC) and Shared Responsibility Payment...
View ArticleUSCIS offers on demand I-9 and E-Verify webinar
The U.S. Citizenship and Immigration Services (USCIS) has created two on demand webinars. Form I-9 Webinar On-Demand: This free self-service tool reviews Form I-9 and imparts best practices at the...
View ArticleOCSE reminds employers of mandatory electronic orders
The Federal Office of Child Support Enforcement (OCSE) reminded employers at the American Payroll Association’s (APA) 33rd Annual Congress recently held in Las Vegas, Nevada, that electronic child...
View ArticleSeverance payments to executives in merger not parachute payment
Any severance benefits paid by the taxpayer under agreements in connection with a merger were exempt from the definition of parachute payment, and were not subject to Code Sec. 280G. Severance payments...
View ArticleIndiana adjusts local tax authority; updates Code references
Tipton County is authorized to impose an additional county adjusted gross income tax rate of not more than 0.4% for constructing and equipping a jail and related facilities and renovating the county...
View ArticlePresident signs bill eliminating tax on benefits to fallen officers
The President signed legislation on May 22, the Don’t Tax Our Fallen Public Safety Heroes Act (P.L. 114-14), which clarifies federal law to ensure that both federal and state benefits for public safety...
View ArticleNLRB illuminates franchise’s “joint employer” status
Nutritionality, a franchisee of the restaurant chain Freshii, and the franchisor itself are not joint employers under either the NLRB’s current standard or under the traditional joint employer standard...
View ArticleIndiana local income taxes reorganized
Indiana has adopted legislation repealing the county adjusted gross income tax (CAGIT), the county option income tax (COIT), the county economic development income tax (CEDIT), and the various local...
View ArticleIllinois amends regulation on W-2 electronic filing deadline
The Illinois Department of Revenue has adopted an amendment to a regulation on personal income tax withholding returns and payments that changes the filing deadline for employers that must file W-2...
View ArticleMassachusetts Tips Act not violated by franchisee no-tipping policy
A no-tipping policy implemented by a restaurant franchisee did not violate the Massachusetts Tips Act. However, on questions reported to the state high court in response to a suit by employees who...
View ArticleInterest rates remain the same for the third quarter of 2015
The IRS has announced that interest rates for the calendar quarter beginning July 1, 2015, will remain the same. The interest rates will be 3% for overpayments (2% in the case of a corporation) and...
View ArticleIRS offers seminar on employer shared responsibility
The IRS will be presenting the Affordable Care Act Virtual Presentation: Employer Shared Responsibility and Information Reporting on June 24, 2015: 1:00 PM Eastern Time. To register for this event, use...
View ArticlePenalties paid for failure to timely pay final wages are not wages
An employer’s late payment penalties made under state law to a terminated or quitting employee for failure to pay the employee’s final wages within a required time period were not wages for purposes of...
View ArticleKentucky revises employer withholding guidelines
The Kentucky Department of Revenue has revised its guidelines for employers subject to Kentucky personal income tax withholding from employee wages. The revised guidelines note that the Department has...
View ArticleNY Department of Labor issues proposed rules on paycards
The New York State Department of Labor has published draft regulations to better manage how businesses pay workers with debit cards, in order to help protect workers’ wages. The proposed regulations,...
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