News & Analysis as of

W-2

Employers Take Note: Tax Season Phishing Scams on the Rise

by Fisher Phillips on

It is tax season once again, and with it comes an increased threat of phishing scams targeting human resources and payroll personnel. In 2016, the IRS alerted employers to a then-emerging email phishing scheme in which...more

Tax Cuts and Jobs Act – New Compensation Tax for Non-Profit Organizations on Excess Compensation and Excess Parachute Payments

by Foley & Lardner LLP on

The Tax Cuts and Jobs Act passed late last year and became effective as of January 1, 2018. The Act includes a new provision that subjects certain “excess compensation” paid by exempt organizations (organizations exempt from...more

California Employers Beware: W-2 Phishing Scams Skyrocket During Tax Season

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Employers have been scammed into sending sensitive W-2 information to malicious third parties. This article outlines the key steps California employers must immediately take if subject to this unfortunate...more

IRS Warns Of Increase In Phishing Scams Targeting Employee W-2s

by King & Spalding on

The Internal Revenue Service (“IRS”), along with state tax agencies and the tax industry, recently issued a warning to employers about increasingly prevalent “phishing” email scams targeting the W-2 tax form information of...more

Tax Filing Fraud

by Bryan Cave on

Tax returns and W-2s are information rich documents. Among other things they contain the name and Social Security Number of an employee, as well as information concerning their salary and address, and personal behavior and...more

2018 Tax (Fraud) Season: IRS Warns Tax Professionals, Employers About New and Old Phishing Scams

by McGuireWoods LLP on

Tax season is here, which means tax fraud season is here, too. This year, the Internal Revenue Service (IRS) is warning tax practitioners about a new phishing scam targeted at them and reminding all employers about...more

Privacy Perils: The Least Wonderful Time of the Year

by Bass, Berry & Sims PLC on

January 29 was the first day that tax returns could be filed for tax year 2017. The IRS expects approximately 90% of returns this year to be filed electronically, and overall 70% of taxpayers should receive a tax refund,...more

Diverting Employees’ Payroll Direct Deposits: The Latest Wave of Phishing Scams

Employers beware: Companies are experiencing a wave of phishing scams that target employee paychecks. Here is the scenario: An employee receives from a company email account e-mail that mimics a familiar and trusted company...more

Decoding the Tax Cuts and Jobs Act – Part IV: The IRC § 199A Deduction for Qualified Business Income—the Devil Is in the Details...

by Garvey Schubert Barer on

BACKGROUND - The Tax Cuts and Jobs Act (“TCJA”) adopted a new 20% deduction for non-corporate taxpayers. It only applies to “qualified business income.” The deduction, sometimes called the “pass-through deduction,” is...more

Cybersecurity for This Tax Season

Nearly a year ago, in February 2017, the IRS issued a warning regarding phishing attacks targeting a broad range of companies. The scam involves a hacker impersonating an employee of a company, usually the CEO, and sending an...more

A New Tax Season, but the Same W-2 Spear Phishing Scam (Updated)

by BakerHostetler on

With a new tax season approaching, companies should be vigilant in guarding against criminals attempting to obtain sensitive information through a variety of scams. Last month, the IRS issued an alert warning consumers of an...more

Privacy Tip #123 – Tax Identity Theft Awareness Week

Who knew—but yes, next week is Tax Identity Theft Awareness Week. How sad is it that we have to have a week devoted to education and awareness on this topic? ...more

A New Tax Season, but the Same W-2 Spear Phishing Scam

by BakerHostetler on

According to the IRS, the IRS saw the number of businesses, public schools, universities, tribal governments and nonprofits victimized by W-2 scams increase to 200 in 2017 from 50 in 2016. Those 200 victims translated into...more

Warning: Scammers Say, "Show Me Your Employees' W-2s!"

by Miles & Stockbridge P.C. on

As employers prepare to send employees their W-2s for last year by the end of the month, cybercriminals are preparing phishing emails under the guise of company executives requesting personal information on employees. The IRS...more

UPCOMING DEADLINES: (1) Form W-2 Reporting Of Employer-Provided Health Coverage; And (2) Medicare Part D Notices To CMS

by Fraser Trebilcock on

Unless subject to an exemption, employers must report the aggregate cost of employer-sponsored health coverage provided in 2017 on their employees’ Form W-2 (Code DD in Box 12) issued in January 2018. Please see IRS Notice...more

Upcoming Tax Reporting and Compliance Returns: What’s Due in January 2018

by Moskowitz LLP on

Tax season commences soon – let’s review some upcoming tax reporting and compliance returns that are due in January of 2018....more

New Internal Revenue Code Section 199A: The 20% Deduction for “Pass-Thru” Businesses

by McNair Law Firm, P.A. on

Aside from corporate tax reductions, one of the most important aspects of the new Tax Cuts and Jobs Act beginning this year is the new 20% deduction for “pass-thru” businesses – i.e. businesses that are not corporations. With...more

Now is the Busy Season for Cyber Criminals Posing as Executives to Obtain W-2s

It’s the start of tax season, and many employers are sending W-2 forms to employees so they can get ready to file their tax returns. As was true over the past few years, this is not only the busy season for tax preparers,...more

Data Privacy + Cybersecurity Insider - January 2018

by Robinson & Cole LLP on

Now is the Busy Season for Cyber Criminals Posing as Executives to Obtain W-2s - It’s the start of tax season, and many employers are sending W-2 forms to employees so they can get ready to file their tax returns. As was...more

2018 Tax Reform Series: Tax Law Changes To Employee Fringe Benefits

by Jackson Lewis P.C. on

Below is the second article in our series covering the employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017. As discussed below, the Act makes several...more

Kentucky Federal Court Brushes Aside Pre-emptive Attack on Class Allegations in Phishing Case, Rejects Out-of-the-Box Defense...

by BakerHostetler on

Brushing aside apparent flaws in a proposed class definition, a federal court in Kentucky declined to dismiss class allegations against North Carolina-based pharmacy services provider Pharm-Save Inc. (Pharm-Save) stemming...more

Federal Employment Taxes: Employee-Independent Contractor Issues (Part 5)

by McNair Law Firm, P.A. on

Section 530 Relief - Employers that have workers which the employer classifies as “independent contractors” (Form 1099) risk having these workers reclassified by the IRS as employees. This is a major audit area for the...more

“Royal” additions: handling HR issues that arise due to marriage and childbirth

by FordHarrison on

I admit that, like many Americans, I am fascinated with the lives of the British royal family. That is especially true with respect to Charles and Di’s two young princes. I enjoy hearing news about Prince Williams’ adorable...more

Defending Data-Breach Lawsuits Brought By Employees (Part 1 of 2)

by Ellis & Winters LLP on

As we’ve previously discussed, companies are often sued by their customers and business partners after a data breach. Another increasingly common source of data-breach litigation comes from within: companies’ own employees. ...more

How Employers Can Become Experts at Data Breaches: Tax and W2 Breaches

by Bryan Cave on

A large portion of the data breaches that occur each year involve human resource related information. Bryan Cave has put together a multi-part series to help human resource managers understand, prepare for, and react to, a...more

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