News & Analysis as of September 18, 2024

Employer Liability Issues

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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 -

Weekly IRS Roundup June 10 – June 14, 2024

McDermott Will & Emery on 6/26/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 10, 2024 – June 14, 2024....more

OSHA Recommendations on COVID Are Not Enough to Qualify a Business for the Employee Retention Credit

Miller Canfield on 12/11/2023

The IRS recently issued guidance explaining that OSHA communications regarding COVID-19 precautions alone do not allow employers to qualify for the Employee Retention Credit (“ERC”). Other than some start-up businesses,...more

The Brass Tacks: IRS Creates Process for Withdrawing ERC Claims

DarrowEverett LLP on 11/7/2023

The Internal Revenue Service (“IRS”) recently granted employers a means to avoid interest and penalties on inappropriately taken Employee Retention Tax Credit (“ERC”) claims. This surely will come as a relief to taxpayers who...more

Weekly IRS Roundup October 23 – October 27, 2023

McDermott Will & Emery on 10/31/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 23, 2023 – October 27, 2023...more

The IRS Requirement to Report Settlements With Government Agencies Over $50,000

Steptoe & Johnson PLLC on 2/16/2023

As part of the 2017 Tax Cuts and Jobs Act (TCJA), Congress modified the rules governing the deductibility of certain government settlement-related expenses under the Internal Revenue Code (IRC). Effective January 1, 2022,...more

Weekly IRS Roundup January 17 – January 20, 2023

McDermott Will & Emery on 1/24/2023

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 17, 2023 – January 20, 2023...more

Settled a Lawsuit with a Government Agency Last Year? Form 1098-F Reporting of Fines and Penalties is Coming Due

Littler on 1/23/2023

As part of the 2017 Tax Cuts and Jobs Act (Act), Congress enacted Internal Revenue Code (Code) section 6050X, which requires government agencies (and certain nongovernmental regulatory agencies) to issue information returns...more

Weekly IRS Roundup September 19 – September 23, 2022

McDermott Will & Emery on 9/27/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 19, 2022 – September 23, 2022....more

Weekly IRS Roundup September 6 – September 9, 2022

McDermott Will & Emery on 9/12/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 6, 2022 – September 9, 2022...more

Section 530 and IRS Employment Tax Audits: Worker Classification and Relief

Freeman Law on 5/31/2022

Worker Classification and Section 530 Relief - Employers are required to pay employment taxes to the IRS. Generally, these payments consist of two portions: the employee’s portion of FICA and income taxes and the employer’s...more

Don’t Pay Twice: Monitor Payment of Cancelled, Reissued Qualified Plan Distributions

Morgan Lewis on 2/24/2022

Cancelled and reissued qualified plan distribution checks, particularly to decedents, should be monitored for payment in light of the Internal Revenue Service’s repeated refusal to repay withholding to payor plans. If a Form...more

Resolving Erroneous Payroll Tax and Information Return Reporting Penalties with the IRS

Morgan Lewis on 12/16/2021

Some taxpayers are receiving automatically generated IRS notices of underpayments and penalties with respect to Form W-2 income tax and FICA withholdings, unemployment taxes, and backup withholding, as well as other year-end...more

Connecticut Bill Aims to Address the Impact of Telecommuting during the Pandemic

McDermott Will & Emery on 3/9/2021

As we continue to face growing concerns because of the nationwide impact of COVID-19, taxpayers should be mindful of the potential impacts that the continued rise in telecommuting may have on their state personal income tax...more

Guidance on Directive to Defer Payroll Tax Obligations Leaves Unanswered Questions

Farella Braun + Martel LLP on 9/1/2020

On August 8, 2020, the President directed the Secretary of the Treasury to authorize the deferment of certain payroll tax withholding, depositing, and payment obligations otherwise incurred on wages and compensation paid...more

Coronavirus: Recent Tax-Related Developments

Proskauer - Tax Talks on 3/13/2020

Possible Tax Filing and Payment Extension. At a House subcommittee meeting yesterday, March 11, 2020, Treasury Secretary Steven Mnuchin announced that the Treasury Department is considering extending the deadline for certain...more

Restructuring Operations in the Wake of California AB 5? Don’t Overlook the Tax Implications

Littler on 10/30/2019

Businesses with operations in California have begun to identify options and implement strategies for compliance with Assembly Bill (AB) 5, which imposes the ABC test for identifying whether a worker is an independent...more

IRS Misclassifications and Costly Penalties: Independent Contractor or Employee?

Burr & Forman on 7/17/2019

Failing to properly classify an individual as an independent contractor can result in expensive penalties to the employer – imposed by both the United States Department of Labor and the Internal Revenue Service. As it...more

A Primer On Employment Taxes

Carlton Fields on 5/21/2019

We noticed an uptick in employment tax issues, so thought a primer on employment taxation basics would be helpful. While this may be of general interest to in-house counsel and human resources professionals, it is probably...more

Client Alert – Employers Beware: ‘Tis the Season for Data Theft

Bowditch & Dewey on 12/18/2018

Because cybercriminals don’t take holidays, December is an appropriate time for all employers to take steps to protect tax data and identities (both their own and their employees’) in advance of the 2019 tax-filing season....more

Family Employee Tax Policies

Davis Wright Tremaine LLP on 12/10/2018

Hiring and employing family members is common in the realm of family businesses. An important thing to remember is that most family employees are treated in the same manner as any other employee for federal tax purposes,...more

Unpaid Federal Employment Taxes: The Government’s Chief Enforcement Priority

Burr & Forman on 10/29/2018

Businesses that have employees must pay wages and salaries to their employees, and the employer must collect federal employee income taxes and the employee’s share of social security (FICA) from these wages and salaries, add...more

Walking the Line: Common Pitfalls in Civil and Criminal Employment Tax Cases

Blank Rome LLP on 9/7/2018

Department of Justice and the IRS have announced a renewed emphasis on both civil and criminal payroll tax enforcement lawsuits. This article provides a short overview of what an employment tax case is and identifies...more

How Do I Report Non-Qualified Plan or Severance Payments to a Former Employee? Hint: You Should Probably Use a W-2, Not a 1099!

Foley & Lardner LLP on 7/10/2018

Employers commonly make payments to former employees for a number of reasons. Two of the more routine payments are those from a non-qualified deferred compensation plan (such as payments from a supplemental executive...more

IRS Clarifies Authority for Acceptance of Offers in Compromise from Clients of Professional Employer Organizations and Reporting...

Burr & Forman on 6/25/2018

Generally, an employer is required to deduct and withhold Federal Insurance Contribution Act taxes (“FICA”), Federal Unemployment Tax Act taxes (“FUTA”), and income tax withholding from its employee’s wages and is separately...more

IRS Is Sending ACA Penalty Notices to Employers

Holland & Hart LLP on 5/16/2018

If you believe your company was subject to the Affordable Care Act (ACA) coverage requirements in 2015 (generally, all employers with 50 full-time or full-time equivalent employees), please take note that the Internal Revenue...more

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