Tag: IRS

1651
Posted in COVID-19 (Coronavirus) Time Off

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…

723
Posted in COBRA COVID-19 (Coronavirus) Posters and Notices

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….

1320
Posted in COBRA COVID-19 (Coronavirus) Posters and Notices

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…

7903
Posted in Compensation

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…

2250
Posted in Benefits

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…

Employers have the discretion to allow employees to make certain mid-year changes.
1834
Posted in Benefits COVID-19 (Coronavirus)

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…

Employers need to maintain proper documentation to claim the new tax credits from the IRS.
2582
Posted in COVID-19 (Coronavirus) Time Off

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…

IRS Tax Withholding Form W-4
2821
Posted in Compensation

New Form W-4, Tax Withholding Method

In December 2019, the IRS released its new Form W-4, Employee’s Withholding Certificate for 2020. Prompted by the 2017 Tax Cuts and Jobs Act, the…

1457
Posted in Benefits

IRS Announces 2020 Health Savings Account Limits

The Internal Revenue Service (IRS) announced the annual limits for Health Savings Accounts (HSAs) for 2020. HSAs are pre-tax accounts available to individuals covered under…

2455
Posted in General

Direct Deposit Scam Targets Payroll, HR

Payroll and HR departments are now popular targets for criminals. They could inadvertently give criminals access to an employee’s paycheck without the employee knowing and…