The Internal Revenue Service (IRS) has released new guidance on the federal income and employment tax treatment of contributions and benefits paid under state paid family and medical leave (PFML) statutes. This guidance also...more
2/4/2025
/ Employee Benefits ,
Employment Tax ,
Federal Taxes ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Medical Leave ,
New Guidance ,
Paid Family Leave Law ,
Payroll Deductions ,
Reporting Requirements ,
SALT
Employee retention credits (ERCs) have been a critical financial lifeline for businesses dealing with the effects of COVID-19. Designed to incentivize businesses to retain employees during the economic downturn caused by...more
After lifting the moratorium on processing tax refund claims, the Internal Revenue Service (IRS) has begun processing a large backlog of claims for the employee retention tax credit (ERC), aimed at businesses impacted by...more
8/13/2024
/ Audits ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Fraud ,
Fraud and Abuse ,
IRS ,
Tax Credits ,
Tax Refunds ,
Tax Relief ,
Tax Returns ,
Wages
With tax day quickly approaching on April 15, 2024, employers in Pennsylvania may want to take note of a December 2023 state tax law that might have flown under the radar. The law made employee contributions to...more
4/8/2024
/ Department of Revenue ,
Dependent Care ,
Dependent Care Assistance Program (DCAP) ,
Employee Contributions ,
Flexible Spending Accounts ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Retroactive Application ,
Tax Deductions ,
W-2
On September 28, 2023, the Internal Revenue Service (IRS) issued updated guidance for employers that have adopted or are considering leave-based programs that allow employees to donate sick, vacation, or personal leave to...more
On September 14, 2023, the Internal Revenue Service (IRS) released Employee Retention Credit (ERC) guidance placing a moratorium on processing new ERC claims due to a surge in questionable claim submissions. Claims already...more
9/26/2023
/ American Rescue Plan Act of 2021 ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
Final Rules ,
IRS ,
Moratorium ,
New Guidance ,
Relief Measures ,
Scams ,
Tax Credits
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have finalized rules for the recapture of erroneously claimed Employee Retention Credits (ERC) and other tax credits provided to employers for...more
8/18/2023
/ American Rescue Plan Act of 2021 ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Retention ,
EPSLA ,
Families First Coronavirus Response Act (FFCRA) ,
Final Rules ,
IRS ,
Tax Credits ,
Temporary Regulations ,
U.S. Treasury ,
Underpayment
Many employers have already claimed millions of dollars in tax credits through the Employee Retention Tax Credit (ERTC). Those employers that have not yet claimed (or incorrectly claimed) any ERTC may still do so...more
Research suggests that more than 60 percent of U.S. workers would like to be able to access their earnings before their regularly scheduled paydays. Responding to this desire, many employers and their payroll providers...more
President Biden’s signing of the Infrastructure Investment and Jobs Act (IIJA) on November 15, 2021, retroactively eliminates an employer’s ability to claim employee retention credits (ERC) for eligible wages paid after...more
On April 21, 2021, in a further push to encourage COVID-19 vaccinations for those individuals who have been hesitant, the White House issued a fact sheet titled, “President Biden to Call on All Employers to Provide Paid Time...more
On July 8, 2020, the Internal Revenue Service (IRS) released guidance for employers on reporting qualifying wages paid to employees under the Emergency Paid Sick Leave Act (EPSLA) and Emergency Family and Medical Leave...more
Following the enactment of the Paycheck Protection Program Flexibility Act of 2020, the Internal Revenue Service (IRS) updated its frequently asked questions (FAQs) to state that employers whose Paycheck Protection Program...more
The Internal Revenue Service (IRS) recently posted a set of frequently asked questions (FAQs) on its website to provide additional information on Revenue Procedure 2020-20. The IRS published this revenue procedure on May 11,...more
Because of travel restrictions, such as canceled flights and stay-at-home orders, the COVID-19 pandemic may have significantly limited a nonresident alien’s ability to leave the United States, regardless of whether the...more
On April 29, 2020, the Internal Revenue Service (IRS) provided additional guidance on the employee retention credit (ERC) available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act via new frequently asked...more
On April 30, 2020, the Internal Revenue Service (IRS) released a draft of Form 941, Employer’s QUARTERLY Federal Tax Return, and accompanying instructions. The revised Form 941 includes various additional entries to report...more
On December 5, 2019, the Internal Revenue Service (IRS) issued the final redesigned 2020 Form W-4, Employee’s Withholding Certificate, to incorporate changes pursuant to the Tax Cuts and Jobs Act of 2017. The new form is...more
When the Internal Revenue Service (IRS) determines during an examination that a fringe benefit should have been taxed and the employer accordingly has to pay additional taxes in a later year, how is the subsequent payment...more
The Internal Revenue Service (IRS) recently clarified its position on two fringe benefits provided to employees on global assignments: tax equalization services and tax return preparation services. Memorandum Number 201810007...more