News & Analysis as of

Income Taxes › Withholding Requirements

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Buckingham, Doolittle & Burroughs, LLC

Ohio Municipal Income Tax: Cities permitted to tax wages earned by Ohio employees working outside the municipalities while at home...

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The Ohio Supreme Court upheld the right of Ohio municipalities to tax wages earned by employees working outside the municipality from home during the COVID-19 pandemic. Schaad v. Alder Slip Opinion No. 2024-Ohio-525 (Feb. 14,...more

Holland & Knight LLP

Consejo de Estado de Colombia: sanciones e intereses en déficit de autorretenciones

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El Consejo de Estado de Colombia en Sentencia de 19 de julio de 2023 (radicado 26209) concluyó que cuando se presenten déficit en las autorretenciones mensuales por impuesto sobre la renta frente al total de ingresos...more

McDermott Will & Emery

Reminder: New Tax Forms for Retirement Plan Payment Withholding Effective January 1, 2023

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Retirement plan sponsors need to utilize updated Form W-4P (for periodic pension and annuity payments) and new Form W-4R (for nonperiodic payments and eligible rollover distributions) for income tax withholding elections...more

Holland & Knight LLP

En Colombia Consejo de Estado precisa tratamiento tributario de dividendos para régimen SIMPLE

Holland & Knight LLP on

Proferida dentro del expediente #26084 en sentencia de 10 de noviembre de 2022, al analizar la legalidad del artículo 3 del Decreto 1457 del 12 de noviembre de 2020, que regula el tratamiento de los dividendos y...more

Pillsbury Winthrop Shaw Pittman LLP

Pandemic Work-From-Home Arrangements Have Tax and Employment Law Consequences

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Prolonged work-from-home status for employees who live in a different jurisdiction than their assigned office can generate new tax and employment law compliance obligations for employers. Employers with employees who...more

K&L Gates LLP

COVID-19: State Tax Implications of Remote Working Arrangements

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Prior to the coronavirus (COVID-19) pandemic, many state taxing authorities asserted that a business could become subject to their states’ tax obligations by having a single employee working from within the states, even if...more

Faegre Drinker Biddle & Reath LLP

States Issue Guidance Concerning Effect of Telecommuting on Wage Withholding Requirements

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Nationwide stay-at-home orders issued in response to the COVID-19 pandemic may impact withholding requirements for multistate employers. Employers are generally required to withhold income tax from wages of employees based...more

Skadden, Arps, Slate, Meagher & Flom LLP

State and Local Tax Considerations in Light of COVID-19

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The first order of business for many state tax authorities in response to COVID-19 was deciding whether to extend their respective income tax filing and payment deadlines for the 2019 tax year, either automatically by...more

Burr & Forman

IRS Opens 2020 With New W-4 For Employers

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With the implementation of the Tax Cuts and Jobs Act of 2017, it was only a matter of time before the IRS issued a new W-4 Employee Withholding Certificate form.  Employers use the W-4 to determine how much pay to withhold...more

Foodman CPAs & Advisors

Payers and Payees have Obligations to Comply with Backup Withholding

Foodman CPAs & Advisors on

Backup Withholding requires a payer to “withhold tax” from payments that are not otherwise subject to withholding.  A Taxpayer (payee) may be subject to Backup Withholding if it...more

Seyfarth Shaw LLP

Recent Legislation Changes Illinois Non-Resident Employee Withholding Rules

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Seyfarth Synopisis: Illinois recently enacted legislation that changes the rules for withholding income tax from non-resident employees. The new rules replace the current, somewhat more complicated rules with a more...more

McDermott Will & Emery

Still Tax, Even Without the Distributed Cash

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The IRS recently issued guidance on the tax treatment, withholding and reporting for required distributions from tax-qualified retirement plans. Plan sponsors should contact their retirement vendors and trustees to ensure...more

Holland & Knight LLP

Ministerio de Hacienda reglamenta artículos del Estatuto Tributario en materia laboral

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El pasado 07 de octubre de 2019, el Ministerio de Hacienda y Crédito Público de Colombia expidió el Decreto 1808 de 2019, "por el cual se reglamentan los artículos 55, 126-1, 126-4, 206, 206-1, 235-2, 383, 387 y 388 del...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

IRS offers guidance on uncashed checks, but not really

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

In a recent revenue ruling, the IRS stated that if a participant or a beneficiary doesn’t cash a distribution check in the year it was issued, the individual still must include the amount in gross income for that year....more

McDermott Will & Emery

Illinois Fiscal Year 2020 Income and Franchise Tax Changes

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The Illinois General Assembly enacted a number of new tax measures in a flurry of activity at the end of its legislative session. Some of the changes are taxpayer friendly and others are not. Unlike the no-deal chaos of past...more

Proskauer - Tax Talks

Section 1446(f) Proposed Regulations: Key Guidance on Partnership Interest Transfers by Non-U.S. Persons

Proskauer - Tax Talks on

On May 13, 2019, the U.S. Internal Revenue Service (“IRS”) and Treasury Department published proposed regulations providing guidance on the rules imposing withholding and reporting requirements under the Code on dispositions...more

Littler

Puerto Rico Treasury Department Issues New Quarterly Tax Return for Withholding Payments for Services Rendered

Littler on

Act 257 of December 10, 2018 (Act 257) amended the Puerto Rico Internal Revenue Code to require any person or entity required to withhold income tax on payments for services rendered to submit a reconciliation quarterly tax...more

Steptoe & Johnson PLLC

Traversing the Maze of Local Wage Tax Withholding In Pennsylvania under Act 32 – A Guide for Pennsylvania Employers

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The payment and withholding of earned income taxes (“EIT taxes”) in Pennsylvania at times seems like a complex maze and is challenging for human resource professionals or a company’s payroll tax team. In May, Pennsylvania...more

Burr & Forman

How to Avoid IRS Estimated Tax Penalties

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Changes have been made to the income tax withholding tables and estimated tax rates as a result of the new Tax Cuts and Jobs Act. Taxpayers should pay extra attention now to their tax withholdings and estimated tax payments...more

Troutman Pepper

Pennsylvania Begins New Withholding Requirements: One May Affect Your Lease

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On July 1, Pennsylvania will begin enforcing enhanced personal income tax withholding requirements that were enacted by the legislature as a part of Act 43 of 2017. ...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Keystone State Targets the Gig Economy: Pennsylvania’s New Nonemployee Withholding and Reporting Requirements

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On October 30, 2017, Governor Tom Wolf of Pennsylvania signed into law Act 43 of 2017. This new law provides that beginning July 1, 2018, Pennsylvania businesses that pay at least $5,000 in Pennsylvania-source nonemployee...more

Ballard Spahr LLP

Pennsylvania Department of Revenue Delays Implementation of New Non-Employee Withholding Requirements

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After hearing from taxpayers about the significant burden of complying with new Pennsylvania rules requiring personal income tax (PIT) withholding from non-resident service providers who receive IRS Forms 1099-MISC, the...more

Robinson & Cole LLP

Connecticut Department of Revenue Services Issues Additional Guidance on the New Mandatory Income Tax Withholding Requirements for...

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On December 7, 2017, the Connecticut Department of Revenue Services (DRS) issued additional guidance regarding the new statutory withholding requirements for certain payors of pension and annuity payments set to take effect...more

Robinson & Cole LLP

New Connecticut Mandatory Income Tax Withholding Requirements for Pension and Annuity Payments

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New legislation, effective January 1, 2018, will require certain payors of pensions and annuities to withhold Connecticut state income tax from distributions made from an employer pension, annuity, profit-sharing plan, stock...more

Littler

UK: The Biggest Shake Up of Employment Law in a Generation?

Littler on

On July 11, 2017, the UK government published the Review of Modern Working Practices. The report was issued by Matthew Taylor, chief executive of the Royal Society of Arts and a former policy chief to Tony Blair. Current...more

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