Tag: IRS
2023 IRS Mileage Rates Announced
On December 29, 2022, the Internal Revenue Service issued the 2023 optional standard mileage rates, which are used to calculate the deductible costs of operating…
Mileage Reimbursement Rate Increases on July 1
On June 9, 2022, the Internal Revenue Service (IRS) announced an increase in the standard mileage rate for the second half of 2022. Although this…
2022 IRS Mileage Rates Announced
On December 17, 2021, the Internal Revenue Service (IRS) issued the 2022 optional standard mileage rates, which are used to calculate the deductible costs of operating an…
COVID-19 Paid Sick Leave Expiration Approaches
For nearly the entirety of the pandemic, either the federal or California governments have required most employers to provide paid sick leave to their employees…
American Rescue Plan Act COBRA Subsidies Ending Soon
In March, the federal government passed the American Rescue Plan Act (ARPA), the third federal stimulus package enacted in response to the ongoing COVID-19 pandemic….
IRS Answers Questions About ARPA’s COBRA Subsidy
Several weeks after the American Rescue Plan Act (ARPA) provided temporary Consolidated Omnibus Budget Reconciliation Act (COBRA) subsidies to eligible individuals, the IRS has issued…
2021 IRS Mileage Rates
On December 22, 2020, the Internal Revenue Service (IRS) issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an…
401(k) Contribution Limits Stay the Same in 2021
The Internal Revenue Service (IRS) has released guidance on cost-of-living increases to the income ranges for determining individual retirement account (IRA) and Roth IRA contribution eligibility, and…
Cafeteria Plans, FSAs, Dependent Care Assistance Programs More Flexible Due to COVID-19
The Internal Revenue Service (IRS) released new guidance, Notice 2020-29, providing increased flexibility for individuals participating in section 125 cafeteria plans, health flexible spending arrangements…
Reminder: Properly Document FFCRA Leave to Claim Tax Credits
Employers are becoming familiar with the new Families First Coronavirus Response Act (FFCRA), which provides new COVID-19-related federal emergency paid sick leave and emergency family…
