LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's Payroll Tax Deskbook. Twenty second Edition (December 2015)
|
|
- Beryl Lewis
- 5 years ago
- Views:
Transcription
1 Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's Payroll Tax Deskbook Twenty second Edition (December 2015) Highlights of This Edition The following are some of the important update features of the 2015 Edition of PPC's Payroll Tax Deskbook. Information Reporting Forms for Health Care Coverage. This edition has been updated for the latest guidance on the health care information reporting requirements. The Deskbook includes detailed information on the applicable large employer reporting requirements under IRC Sec and line by line guidance for completing Form 1095 C and Form 1094 C. Also included is guidance on minimum essential coverage reporting under IRC Sec and line by line guidance for completing Form 1095 B and Form 1094 B. Certified Professional Employer Organizations (PEO). A new IRS program allows qualifying PEOs to become certified PEOs that are solely liable for their customers employment taxes. A certified PEO is also treated as the sole employer of some of its customers employees. This edition includes a new discussion about the necessary requirements for a PEO to become certified. Increased Penalties. For returns due after 2014, certain penalties are adjusted for inflation annually. Additionally, several information reporting penalties were increased with 2015 legislation. The Deskbook s chapter on penalties has been updated for the increased amounts and inflation adjustments. Worker Classification. Worker classification continues to be an area of IRS focus. This edition has been updated for the latest guidance from the IRS and includes a discussion on recent Department of Labor guidance on the economic realities test used to determine whether a worker is an employee or an independent contractor for purposes of the Fair Labor Standards Act. Benefits for Same sex Spouses. This edition includes an updated discussion on benefits provided to same sex spouses in light of the recent Supreme Court decision in Obergefell v. Hodges. myras. A new discussion has been added discussing the recently created individual retirement accounts known as myras. Coverage includes the requirements and tax treatment of myras. CHAPTER 2 Basic Principles of Employer Liability 1. This edition provides an update on how to access new employer tools available when using the E Verify program, including a guide for employers and a free webcast. Key Issue 2A 2. Information has been added about the new Form I 9 desktop widget the USCIS has made available through its website. 3. A new multistate employer notification form has been released for use in new hire reporting for multistate employers. Information on the new form and updated requirements for submission has been included. Key Issue 2A Key Issue 2A prlp15sub 1
2 CHAPTER 4 Employee Leasing and Third party Service Providers CHAPTER 5 Principles of Worker Classification CHAPTER 6 Common Law Control Rules CHAPTER 9 Special Classes of Exempt Employment CHAPTER 10 Basic Principles of Compensation and Fringe Benefits CHAPTER 11 Cafeteria Plans, and Dependent Care, Educational, and Adoption Assistance 1. Clarification has been added on how a reporting agent can revoke an existing authorization granted by the prior filing of a Form 8655 with the IRS. 2. A key issue has been added to this chapter that includes detailed information on the new IRS program for certified professional employer organization status and its requirements. 1. This update includes a discussion of recent DOL guidance on the economic realities test employers should use to determine whether a worker is an employee or independent contractor for DOL purposes, including FLSA provisions. 2. Further developments have been provided on the Tax Court decision in SECC Corp. and its impact on worker classification. A Chief Counsel Notice expresses the IRS s opinion on the court s ruling and provides instructions for IRS attorneys going forward. 1. The discussion of Form 8919 is expanded in this edition to include information about the determination letter process after a Form 8919 has been filed by a worker. 1. This chapter has been updated to include discussions of two recent decisions concerning whether charter school employees and medical residents are exempt from FICA taxes. 1. Employers generally can gross up wages to absorb employee payroll taxes. This edition includes a caution to employers for a Chief Council Advice that determined the employer was not entitled to a refund for employment taxes overpaid on grossed up wages. 2. An example has been added to illustrate the calculation to use when grossing up an employee s bonus if the OASDI wage base has been exceeded. 3. After the Quality Stores decision, the IRS announced that it will reject all claims for refund of payroll taxes related to severance payments unless they qualify for the narrow exception provided. This update contains a discussion of the announcement. 4. A recent IRS memorandum provides guidance on the employment tax treatment of late payment penalties imposed for the failure to pay final wages on a timely basis. This edition includes a practice tip to help employers apply this guidance. 5. This edition has been updated for proposed regulations that would change the requirement to file a copy of a Section 83(b) election with the employee s tax return. 1. This key issue has been updated to clarify whether expenses indirectly related to dependent care can be reimbursed through a dependent care assistance program. Key Issue 4C Key Issue 4D Key Issue 5A Key Issue 5M Key Issue 6F Key Issues 9E and 9G Key Issue 10C Key Issue 10C Key Issue 10E Key Issue 10E Key Issue 10H Key Issue 11D 2
3 CHAPTER 12 Health Insurance, Life Insurance, and Retirement Plans CHAPTER 17 Tax Deposit Rules FITW and FICA CHAPTER 18 The Earned Income and Work Credits CHAPTER 20 Form 941 (Employer s Quarterly Federal Tax Return) 1. This chapter includes an updated discussion on benefits provided to same sex spouses in light of the recent Supreme Court decision in Obergefell v. Hodges. 2. Updated guidance on employer payment plans and the potential for penalty assessment have been included in this key issue. 3. A discussion and an example have been added on how an employer should correct a mistake in the treatment of Roth 401(k) contributions. 4. The chapter has a new discussion covering the recently created retirement accounts known as myras. 1. A discussion has been added to this key issue on a new IRS initiative called the Early Interaction Initiative, under which the IRS contacts employers that make substantially reduced payroll tax deposits. 2. The IRS has created an online calendar that can assist employers in tracking their payroll tax deadlines. This key issue has been updated with information about the calendar and where it is located. 3. Recent IRS guidance provides relief from penalties for not making tax deposits electronically for certain taxpayers that cannot obtain a bank account. A discussion on this guidance has been added in this edition. 1. Without new legislation, the work opportunity tax credit does not apply to wages paid to employees hired after This key issue has been updated to remind employers of the expiration of this tax benefit. 2. An alert has been added to this key issue regarding the transition relief provided to employers submitting Form 8850 to the state workforce agency (SWA) for individuals who were employed after December 31, 2013, and before January 1, Information has been added to this key issue regarding the deemed extension of empowerment zone designations for designations that were in effect as of December 31, Unless extended by Congress, the differential wage payment credit is no longer available for payments made after 2014 to qualifying employees performing military duties. This key issue has been updated to remind employers of the expiration of this tax benefit. 1. This key issue includes IRS Field Attorney guidance on applying the statute of limitations when the wrong employment tax return has been filed. 2. To request a refund of overpaid payroll taxes on an employee s behalf, an employer must have the signed consent of the employee. Information is provided on the proposed rules that allow employers to electronically obtain employee consent. Key Issue 12A Key Issue 12B Key Issue 12J Key Issue 12J Key Issue 17A Key Issue 17B Key Issue 17F Key Issue 18B Key Issue 18B Key Issue 18B Key Issue 18C Key Issue 20G Key Issue 20G 3
4 CHAPTER 21 Form 944 (Employer s Annual Federal Tax Return) CHAPTER 24 Form 940 [Employer s Annual Federal Unemployment (FUTA) Tax Return] CHAPTER 25 Form W 2 (Annual Wage and Tax Statement) CHAPTER 26 Form 1099 Annual Information Returns CHAPTER 27 Forms 1099 MISC, 1099 R, 1099 DIV, and 1099 INT 3. A new key issue has been added to provide guidance on filing a protective claim on Form 941 X. 4. The discussion about benefits provided to same sex spouses has been updated regarding changes due to the decision in Obergefell v. Hodges. 1. Information is provided about proposed rules that allow employers to electronically obtain employee consents to claim FICA refunds. 1. As in previous years, for 2015 some states will be credit reduction states for FUTA tax purposes. Therefore, employers in those states will be subject to higher FUTA tax rates. This key issue includes information on the 2015 credit reduction states. 2. A discussion has been added in this key issue as to whether underpayment interest accrues on FUTA taxes that were not deposited throughout the year. 1. Discussions throughout this chapter have been updated to reflect changes in the 2015 forms. 2. An alert has been added to this key issue regarding a change related to extensions of time to file Form W 2 with the SSA. Effective January 1, 2017, extensions of time to file Form W 2 with the SSA will no longer be automatic. 3. A discussion of the tax treatment and Form W 2 reporting of severance payments, or dismissal payments, made to an employee upon termination of employment has been added in this edition. 4. An alert has been added in this key issue regarding certain coverage provided under an expatriate health insurance plan not being subject to the Form W 2 reporting requirements. 5. This chapter includes an updated discussion on Form W 2 corrections attributable to providing benefits to same sex spouses in light of the recent Supreme Court decision in Obergefell v. Hodges. 1. Form 4419 was recently revised by the IRS. The changes to the revised IRS form are discussed in this edition. 1. Discussions throughout the chapter have been revised to include the latest guidance on FATCA compliance for Form 1099 reporting. 2. Clarification has been added to this key issue on the tax treatment and Form W 2 reporting of jury duty payments an employee receives from his or her employer. 3. An alert has been added to this key issue regarding the expiration of the exclusion for qualified charitable distributions from an IRA. Key Issue 20J Key Issue 20K Key Issue 21C Key Issue 24B Key Issue 24C Throughout chapter Key Issue 25A Key Issue 25B Key Issue 25I Key Issue 25J Key Issue 26C Throughout chapter Key Issue 27A Key Issue 27C 4
5 CHAPTER 28 Forms 1095 B (Health Coverage) and 1095 C (Employer Provided Health Insurance Offer and Coverage) 29 Form 8027 (Employer s Annual Information Return of Tip Income and Allocated Tips) 30 The Trust Fund Recovery Penalty 1. This key issue has been updated with the latest information reporting requirements for Forms 1095 B and 1094 B. 2. A discussion on how supplemental coverage under an HRA is reported by small employers has been added in this edition. 3. This key issue includes a discussion on IRS Notice , which provides interim guidance on when an individual s date of birth can be used on Form 1095 B instead of his or her social security number. 4. A comprehensive example on completing Form 1095 B has been added in this update. 5. A discussion on correcting Form 1095 B has been included in this key issue. 6. This key issue has been updated with the latest information reporting requirements for Forms 1095 C and 1094 C. 7. Discussion on what qualifies as an offer of coverage to an employee, an employee s spouse, and dependents has been included. 8. Two comprehensive examples on completing Form 1095 C have been added in this update. 9. Guidance on the alternative reporting methods available for completing Forms 1095 C and 1094 C has been included. 10. Information on the affordability safe harbors that employers may use to report on the affordability of the health insurance coverage offered to employees has been included. 11. A key issue on correcting Forms 1095 C and 1094 C has been added in this edition. 1. An example and completed illustration have been added to show the allocation of tip income to employees using the hours worked method. 1. An alert has been added to inform practitioners of the Criminal Investigation Division s increased focus on employment tax cases. 2. The discussion on willfulness has been updated for a recent case where a responsible person s reliance on a co owner s past history of making delinquent tax payments was not an excuse for his failure to pay the taxes. 3. Letter 1153 notifies a responsible person of a proposed trust fund recovery penalty assessment. Information on several cases that deal with the proper execution of Letter 1153 has been added to this key issue. Key Issue 28A Key Issue 28A Key Issue 28A Key Issue 28B Key Issue 28B Key Issue 28C Key Issue 28C Key Issue 28D Key Issue 28F Key Issue 28F Key Issue 28G Key Issue 29E Key Issue 30A Key Issue 30B Key Issue 30D 5
6 31 Penalties 32 Garnishments, Levies, and Other Wage Attachments 33 International QRB IRS Rates and Allowances QRB Tax Law Tables and Summaries QRB Worksheets QRB Payroll and Information Forms 1. For returns due after 2014, certain tax penalties are adjusted annually for inflation. The penalty amounts in this chapter have been updated for the inflation adjustments. 2. This key issue has been updated for the revised list of private delivery services approved by the IRS and for guidance on determining the postmark date when these services are used. 3. Due to 2015 legislation, several information reporting penalties have increased. This edition has been updated for the increased amounts. 4. A discussion about a recent court case regarding an employer that failed to file Forms W 2 for two nonconsecutive years not being subject to an intentional disregard penalty has been added to this key issue. 5. A discussion about a Chief Counsel Advice that addresses the assessment of the preparer penalty for amended returns that are signed but not filed, or filed but not signed, has been added in this edition. 6. The Treasury Department has issued a final rule that exempts the preparer tax identification number (PTIN) records from certain provisions of the Privacy Act. Information about this rule has been included in this edition. 1. Additional information has been provided to explain how employers should handle multiple child support withholding orders. 1. Discussion of a court case addressing the source of earned income has been added to the section on foreign earned income. 2. This key issue includes clarification on payroll tax and withholding applicable to foreign students, scholars, teachers, and related individuals. Key Issues 31A, 31B, and 31G Key Issue 31A Key Issues 31B and 31C Key Issue 31B Key Issue 31G Key Issue 31G Key Issue 32D Key Issue 33B Key Issue 33E 1. All tables are updated to reflect the current amounts. Throughout QRB 1. All tables are updated for the latest IRS guidance. Throughout QRB 1. A new worksheet has been added to assist restaurant Worksheet 205 employers with the tip reporting and recordkeeping requirements. 1. All forms are updated to reflect the most recent version available when this Deskbook was published. Throughout QRB 6
LIST OF SUBSTANTIVE CHANGES AND ADDITIONS. 16th Edition (March 2015)
Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's Guide to Compensation and Benefits 16th Edition (March 2015) Highlights of this Edition The following are some of
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's 1040 Deskbook. Twenty ninth Edition (October 2016)
Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's 1040 Deskbook Twenty ninth Edition (October 2016) Highlights of this Edition The following are some of the important
More informationYEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS
YEAR-END UPDATE FOR PAYROLL AND RELATED TAXES WITH ADDITIONAL INFORMATION FOR INDIVIDUALS JANUARY 2011 This memo provides information that is useful in the annual preparation of employment related forms
More informationTECH FLEX. In the announcement increasing the mileage rates, IRS Commissioner Doug Shulman stated the following:
JULY 2008 TECH FLEX ISSUE VII The topics covered in this issue are: Benefits: IRS Increases Mileage Reimbursement Rates Further HSA Guidance Released by IRS CMS Releases Updated Medicare Part D Notices
More informationPAYROLL SOURCE TABLE OF CONTENTS
PAYROLL SOURCE TABLE OF CONTENTS SECTION 1: THE EMPLOYER-EMPLOYEE RELATIONSHIP 1.1 Importance of the Determination... 1-2 1.2 Employee vs. Independent Contractor... 1-2 1.2-1 Common Law Test... 1-3 1.2-2
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC s Guide to Dealing with the IRS. Twenty-fourth Edition (June 2016)
LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s Guide to Dealing with the IRS Twenty-fourth Edition (June 2016) The following are some of the features of this year s update of PPC s Guide to dealing with
More informationIRS RETURN PREPARER TEST SPECIFICATIONS
IRS RETURN PREPARER TEST SPECIFICATIONS GLEIM Comment: Please do not spend time reading, studying, etc. these specifications. We have analyzed them line by line to assure a complete and all-inclusive study
More information2017 Year-End Tax Planning for Businesses
2017 Year-End Tax Planning for Businesses As 2017 draws to a close, there is still time to reduce your 2017 tax bill and plan ahead for 2018. This letter highlights several potential tax-saving opportunities
More informationDevelopment of year-end work plan Create the year-end team (e.g., Payroll, HR, IT, and Accounting) and focus on the following tasks:
Presentation topics > Development of year-end work plan > Management and completion of year-end tasks > Form W-4 compliance > Social Security number (SSN) verification > Form W-2 reporting > IRS Publication
More informationGleim EA Review Updates to Part Edition, 1st Printing April 2016
Page 1 of 6 Gleim EA Review Updates to Part 3 2016 Edition, 1st Printing April 2016 NOTE: Text that should be deleted is displayed with a line through it. New text is shown with a blue background. This
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC s 1120 Deskbook. Twenty-seventh Edition (October 2017)
Route To: j Partners j Managers j Staff j File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s 1120 Deskbook Twenty-seventh Edition (October 2017) Highlights of this Edition Thefollowingaresomeoftheimportantupdatefeaturesofthe2017editionofPPC
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC s 1120 Deskbook. 28th Edition (October 2018)
T20 10/18 Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s 1120 Deskbook 28th Edition (October 2018) Highlights of this Edition Important new feature of the 2018 Edition
More informationIRS RETURN PREPARER TEST SPECIFICATIONS
IRS RETURN PREPARER TEST SPECIFICATIONS August 31, 2011 Preface It is the goal of the IRS to administer a test that is founded on basic preparer competency. As such, the Registered Tax Return Preparer
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC s Guide to Dealing with the IRS. Twenty-third Edition (June 2015)
Route To: j Partners j Managers j Staff j File P.O. Box 115008 Carrollton, TX 75011-5008 Tel (972) 250-7750 (800) 431-9025 Fax (888) 216-1929 tax.thomsonreuters.com LIST OF SUBSTANTIVE CHANGES AND ADDITIONS
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's 1065 Deskbook. Twenty fifth Edition (October 2014)
Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's 1065 Deskbook Twenty fifth Edition (October 2014) Highlights of this Edition The following are some of the important
More information2017 Year-End Tax Memo
2017 Year-End Tax Memo An Annual Publication of Large & Gilbert, Inc. January 2018 Large & Gilbert, Inc., is a full service CPA firm specializing in Accounting, Tax, Consulting, Business Advisory, Wealth
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS Route To: Partners PPC's Guide to Dealing with the IRS Managers. Twenty second Edition (June 2014)
LIST OF SUBSTANTIVE CHANGES AND ADDITIONS Route To: Partners PPC's Guide to Dealing with the IRS Managers Staff File Twenty second Edition (June 2014) The following are some of the features of this year
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC's Guide to Write Up Services. Twenty third Edition (November 2015)
Route To: Partners Managers Staff File General Update Features LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's Guide to Write Up Services Twenty third Edition (November 2015) The following are some of
More informationAchieving the Goal of Compliance with the Government Tax Laws
Achieving the Goal of Compliance with the Government Tax Laws How to Achieve the Goal Athlete Program: Schedule Practice Diet / Sleep Finance Officer Identify and Prioritize Issues Plan: Win Local Establish
More informationEmployee vs. Independent Contractor. James Driver Federal, State, and Local Government Specialist
Employee vs. Independent Contractor James Driver Federal, State, and Local Government Specialist Types of Employees Common law or specific tax statute Identified as an employee under a Section 218 Agreement
More information2015 Year End Payroll Processing
2015 Year End Payroll Processing The end of another calendar year is upon us, we would like to take this opportunity to THANK YOU for your continued business. The fourth quarter of the year is a busy time
More informationThe HR Manager s Guide to Proper Worker Classification
The HR Manager s Guide to Proper Worker Classification Classifying Workers One of your main responsibilities as an employer is to make sure all workers are properly classified as employees or independent
More information2016 NEW DEVELOPMENTS LETTER
2016 NEW DEVELOPMENTS LETTER INTRODUCTION It seems that keeping up with the rapid pace of tax changes and developments becomes more difficult each year. On December 18, 2015, the President signed the Protecting
More informationINCOME TAX CONSIDERATIONS FOR 2014 INCOME TAX RETURNS
INCOME TAX CONSIDERATIONS FOR 2014 INCOME TAX RETURNS Following are income tax items that could affect your return for 2014. Please review and make sure you have alerted your tax consultant for all of
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. PPC s Guide to Real Estate Taxation. Twenty-fourth Edition (June 2018)
Route To: j Partners j Managers j Staff j File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s Guide to Real Estate Taxation Twenty-fourth Edition (June 2018) Highlights of this Edition The following are
More informationFederal Adjustments require an amended return for WI within 90 days. If not filed, there may be a 25% negligence penalty.
SOME IMPORTANT ITEMS TO CONSIDER ON YOUR 2018 RETURNS ABLE accounts are not available in WI. There is a subtraction from federal AGI for contributions to ABLE accounts in other states. The annual contribution
More informationCarol's Tax Return-2016 Tax Year. Part 2. Compute income tax
Turner School of Accountancy Chapter 1 and Chapter 2 Materials Page 1 Part 1. Complete Columns F,G,H. Part 2. Compute amount of tax due or refund Complete Form 1040, page 1 & 2, and Form 1040 Schedules
More informationGeneral Information for 401k Plan Participant
General Information for 401k Plan Participant Welcome to our 401(k) Guide for the Plan Participant! The information contained on this site was designed and developed by various governmental agencies, and
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s 1065 Deskbook. Twenty-seventh Edition (October 2016)
Route To: j Partners j Managers j Staff j File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC s 1065 Deskbook Twenty-seventh Edition (October 2016) Highlights of this Edition The following are some of the
More informationVITA/TCE Training. Preparing a Return in Practice Lab
The National Tax Training Committee has modified this manual to more accurately reflect Tax-Aide policies and scope and to clarify instructions that relate to Practice Lab versus the desktop version of
More informationSimplifying the complexities of payroll taxes and year-end planning November 7, 2013
Simplifying the complexities of payroll taxes and year-end planning November 7, 2013 Baker Tilly refers to Baker Tilly Virchow Krause, LLP, an independently owned and managed member of Baker Tilly International.
More informationExamination Issues. Resources. Public Employers Toolkit
Tax Exempt Government Entities IRS Examination Issues Examination Issues Public Employers Toolkit Resources Publication 963 Federal State Reference Guide Publication 5137 Fringe Benefit Guide Publication
More informationIntroduction to Payroll in the United States Documents Employers Request Social Security Numbers
Module 1: Payroll Concepts Introduction to Payroll in the United States... 1-2 Documents Employers Request... 1-2 Social Security Numbers... 1-2 Methods of Paying Employees... 1-3 Withholding Taxes...
More informationICI SERVICES RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION
ICI SERVICES RETIREMENT SAVINGS PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?... 1 ARTICLE I PARTICIPATION
More informationLegislative update. January 2013
January 2013 Legislative update In this issue HHS issues final HIPAA privacy and security regulations The American Taxpayer Relief Act of 2012 Disclosure to CMS regarding Medicare Part D coverage Notice
More informationEMPLOYMENT TAXES UNDERSTANDING AND PAYING PAYROLL TAXES
EMPLOYMENT TAXES UNDERSTANDING AND PAYING PAYROLL TAXES 2 STARTING A BUSINES RETIREMENT STRATEGIE OPERATING A BUSINES MARRIAG INVESTING TAX SMAR ESTATE PLANNIN 3 Understanding and Paying Payroll Taxes
More informationJANUARY 2014 UPDATE ON PAYROLL, EMPLOYMENT TAXES AND INFORMATION RETURNS
JANUARY 2014 UPDATE ON PAYROLL, EMPLOYMENT TAXES AND INFORMATION RETURNS This letter sets forth employee payroll tax withholding rates, employer payroll tax rates in effect for 2014 and some pertinent
More information2018 Paychex Reference Guide for Accountants
2018 Paychex Reference Guide for Accountants Paychex Promise There are too many what if moments that can disrupt your clients business. The Paychex Promise helps assure that covering payroll will never
More informationEMPLOYER INFORMATION SHEET
General EMPLOYER INFORMATION SHEET Business Name: Business Address: City, State, Zip: Filing Name (if different): Filing Address (if different): City, State, Zip: Contact Name: Phone: Fax: Email: Company
More informationA PATH To Understanding Federal Tax: A 2016 Update of Federal Tax Laws
A PATH To Understanding Federal Tax: A 2016 Update of Federal Tax Laws berrydunn.com PATH Act Permanent Extensions for Individuals State & Local Sales Tax Deduction Charitable Distributions from IRA s
More informationRobert A Cowen Certified Public Accountant year end Tax planning for individuals
Robert A Cowen Certified Public Accountant 2017 year end Tax planning for individuals The end of the year is just a month away. It is good time to start to think about year-end planning. If you have been
More informationPAYROLL Bingo Instructions
Bingo Instructions Host Instructions: Decide when to start and select your goal(s) Designate a judge to announce events Cross off events from the list below when announced Goals: First to get any line
More informationDecember In addition, we have enclosed some additional materials for your guidance including:
Dear Client December 2011 It is time again to prepare for year-end payroll processing specifically the preparation of Forms W-2 and 1099. To assist you in the preparation of these forms, we offer the following
More informationWashington Council. Legislative Alert. Treasury, IRS Release Notice of Proposed Rulemaking on Health Care Law s Employer Requirements !
Washington Council Legislative Alert Treasury, IRS Release Notice of Proposed Rulemaking on Health Care Law s Employer Requirements!@# The Department of the Treasury and the IRS on Friday, December 28,
More informationPayroll Concepts. Lessons. Module 1:
Module 1: Payroll Concepts Introduction to Payroll in the United States... 1-2 Documents Employers Request... 1-2 Social Security Numbers... 1-2 Methods of Paying Employees... 1-3 Withholding Taxes...
More information2016 BUSINESS YEAR-END PLANNING UPDATE
November 2016 AN ALERT FROM SMITH LEONARD PLLC: 2016 BUSINESS YEAR-END PLANNING UPDATE www.smith-leonard.com November 2016 2016 BUSINESS YEAR-END PLANNING UPDATE Year-end planning for businesses is particularly
More informationTHE NONQUALIFIED DEFERRED COMPENSATION ADVISOR 2007 SUPPLEMENT
THE NONQUALIFIED DEFERRED COMPENSATION ADVISOR 2007 SUPPLEMENT PPA Restricts Trusts for Top Executives The Pension Protection Act added new restrictions to IRC Section 409A to prohibit top executives from
More informationZainer Rinehart Clarke. December Dear Clients and Friends:
ZAINER RINEHART CLARKE CERTIFIED PUBLIC ACCOUNTANTS APC AN INDEPENDENT MEMBER OF DFK INTERNATIONAL Santa Rosa St. Helena Sonoma 3510 UNOCAL PLACE, SUITE 350 SANTA ROSA, CALIFORNIA 95403 707 525.1163 707
More informationSUPPLEMENTAL GUIDELINES FOR PREPARING 2018 FORM W-2
SUPPLEMENTAL GUIDELINES FOR PREPARING 2018 FORM W-2 Suspension of exclusion for qualified moving expense reimbursements: Effective for tax years 2018 through 2025, the exclusion for qualified moving expense
More informationCOMPREHENSIVE TAX COURSE
COMPREHENSIVE TAX COURSE Course Topics by Module - LEARNING OBJECTIVES Module 1 Chapter 1: General Material Determine who should file a return. Identify what filing status the taxpayer should use. Determine
More informationBOLES METZGER BROSIUS & WALBORN PC CERTIFIED PUBLIC ACCOUNTANTS AND CONSULTANTS
BOLES METZGER BROSIUS & WALBORN PC CERTIFIED PUBLIC ACCOUNTANTS AND CONSULTANTS 3601 N. FRONT STREET HARRISBURG, PA 17110 PHONE: (717) 238-0446 FAX: (717) 238-3960 www.bmbwcpa.com WILLIAM B. BOLES, CPA/ABV,
More informationEmployee versus Independent Contractor
Employee versus Independent Contractor The information in these materials, and that provided by the presenter, is provided for informational purposes only and should not be considered, nor should it substitute
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's 1040 Deskbook. Twenty seventh Edition (October 2014)
Route To: Partners Managers Staff File LIST OF SUBSTANTIVE CHANGES AND ADDITIONS PPC's 1040 Deskbook Twenty seventh Edition (October 2014) Highlights of this Edition The following are some of the important
More informationSection 125 Cafeteria Plans Overview
Provided by Sullivan Benefits Section 125 Cafeteria Plans Overview A Section 125 plan, or a cafeteria plan, allows employees to pay for certain benefits on a pre-tax basis. Specifically, employers use
More informationFocus on Misclassification: Employee Versus Independent Contractor
Focus on Misclassification: Employee Versus Independent Contractor FEBRUARY 17, 2011 2008 Venable LLP 1 agenda Introduction The Government s Focus on Enforcement Employee vs. Independent Contractor The
More informationGeneral Information for 401k Plan Sponsor
General Information for 401k Plan Sponsor Welcome to our 401k Guide for the Plan Sponsor! The information contained on this site was designed and developed by various governmental agencies, and compiled
More informationImportant Approaching Deadlines
Important Approaching Deadlines Please make note of these important approaching deadlines for calendar year plans: September 15, 2016: 8 ½ months after plan year-end: For employers who filed corporate
More informationPaychex 2017 Employer Year-end Guide
Paychex 2017 Employer Year-end Guide Overview Paychex is committed to helping you prepare and plan for year-end. Please use this guide to help make sure you have a successful 2017 year-end. The guide contains
More informationA DEPENDENT OF SOMEONE ELSE,
The IRS has added additional tax preparer penalties, and as a result you are required to complete this organizer to ensure you and our firm are in compliance with state and federal tax laws. If you ARE
More informationChapter 1: Payroll Fundamentals Challenges Concepts
Table of Chapter 1: Payroll Fundamentals.... 1-1 1.1 Challenges... 1-1 1.2 Concepts.... 1-2 1.2.1 Employees vs. Independent Contractors...1-3 1.2.2 Common Law and Reasonable Basis Tests...1-4 1.2.3 Temporary
More informationYear End Tax Reporting
Year End Tax Reporting TO: FROM: All Clients Nathan Wechsler & Company Professional Association DATE: December 1, 2017 Another year is coming to an end. We want to take this opportunity to remind you of
More informationI N T H I S I S S U E
D E C E M B E R 2 0 1 0 N E W S L E T T E R I N S I D E T H I S I S S U E : U N F O R E S E E - A B L E E M E R - G E N C Y D I S T R I - B U T I O N S E X P L A I N E D D E A D L I N E T O M A K E 4 0
More informationJanuary 7, Medicare Rate 1.45% [.0145]* 1.45% [.0145] Maximum wage NO MAXIMUM NO MAXIMUM Maximum withholding NO MAXIMUM NO MAXIMUM
January 7, 2019 Dear Client: We want to take this opportunity to thank you for your continued support of our firm. As we move forward to 2019, we want to update you on relevant changes to payroll and general
More information2018 Payroll Update Reference Guide
2018 Payroll Update Reference Guide Jones & Roth is providing this Payroll Update as a reference guide for you. It is not meant to be all-inclusive. If there is a payroll item that you have questions about,
More informationArchdiocese of Baltimore- Federal, State, & Other Filing Requirements January 13, 2005
Archdiocese of Baltimore- Federal, State, & Other Filing Requirements January 13, 2005 Agenda 1. Federal Payroll Filings a. Payroll Related Forms b. Proper Completion of Federal Forms c. Federal Payroll
More informationANNUAL INFORMATION RETURNS NEWSLETTER
ANNUAL INFORMATION RETURNS NEWSLETTER J A N U A R Y 2 0 1 9 INSIDE THIS ISSUE: F O R M W - 2 Form W-2 1 Foreign Bank Account Reporting Foreign Bank Account Reporting Household Employee (Nanny Tax) Form
More information2017 Take Home Quiz #1
Employee/Independent Contractor 1. To satisfy the Reasonable Basis test and treat a worker as an independent contractor, a company can rely on all of the following methods EXCEPT: A. a private letter ruling
More informationSmall Business Tax Saving Strategies for the 2012 Filing Season
Small Business Tax Saving Strategies for the 2012 Filing Season Few business sectors embody today s entrepreneurial spirit, drive for innovation and unwavering perseverance more than the small business
More informationWithholding, Estimated Payments & Payroll Taxes
CHAPTER 9 Withholding, Estimated Payments & Payroll Taxes Compute income tax withholding from employee wages Determine taxpayers quarterly estimated payments Understand FICA, federal deposit system and
More informationList of Substantive Changes and Additions. PPC s Guide to Buying or Selling a Business. Twenty-fourth Edition (May 2018)
Route To: j Partners j Managers j Staff j File P.O. Box 115008 Carrollton, TX 75011-5008 Tel (972) 250-7750 (800) 431-9025 Fax (888) 216-1929 tax.thomsonreuters.com List of Substantive Changes and Additions
More information1099 LETTER REPEAL OF NEW INFORMATION REPORTING REQUIREMENTS INSIDE THIS ISSUE:
DECEMBER 2011 INSIDE THIS ISSUE: Repeal of New Information Reporting Requirements IRS Voluntary Classification Settlement Program California s New Penalties for Misclassifying Employees as Independent
More informationHealth Savings Account (HSA) Amendment-Custodial
Health Savings Account (HSA) Amendment Dear HSA Owner: The purpose of this Amendment is to incorporate changes in law and policy that affect your Health Savings Account (HSA) agreement. This Amendment
More informationSUMMARY PLAN DESCRIPTION. for the. Bud Mahas Construction, Inc. 401(k) Profit Sharing Plan and Trust. Effective September 1, 2012
SUMMARY PLAN DESCRIPTION for the Bud Mahas Construction, Inc. 401(k) Profit Sharing Plan and Trust Effective September 1, 2012 TABLE OF CONTENTS (1) General.... 1 (2) Identification of Plan... 1 (3) Type
More informationTEAMHEALTH 401(K) PLAN SUMMARY PLAN DESCRIPTION
TEAMHEALTH 401(K) PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this Summary provide?... 1 ARTICLE I PARTICIPATION IN THE
More informationT a x D u e D a t e s
T a x D u e D a t e s December 2017 December 10 November, report them to your employer. You can use Form 4070. December 15 Corporations - Deposit the fourth installment of estimated income tax for. A worksheet,
More informationSUMMARY PLAN DESCRIPTION FOR. DAYMON WORLDWIDE INC. 401(k) PROFIT SHARING PLAN AMENDMENT AND RESTATEMENT EFFECTIVE JANUARY 1, 2016
SUMMARY PLAN DESCRIPTION FOR DAYMON WORLDWIDE INC. 401(k) PROFIT SHARING PLAN AMENDMENT AND RESTATEMENT EFFECTIVE JANUARY 1, 2016 Table of Contents Article 1... Introduction Article 2... General Plan Information
More informationTaxpayer Questionnaire
Personal Information Select Filing Status (select ONE) Single Married Filing Joint Married Filing Separately Head of Household Qualifying Widow(er). Year spouse died: Help Me Choose Enter Personal Information
More informationApplication of Retroactive Increase in Transit Benefits
Legislative Brief Application of Retroactive Increase in Transit Benefits The American Taxpayer Relief Act increased the maximum monthly transit benefit for employees from $125 per participating employee
More informationPermanent home address (number and street or rural route) Single or Head of household
Department of Taxation and Finance Employee s Withholding Allowance Certificate New York State New York City Yonkers IT-2104 First name and middle initial Last name Your social security number Permanent
More informationEmployment tax compliance: Year-end hot topics The Dbriefs Global Mobility, Talent, and Rewards series
Employment tax compliance: Year-end hot topics The Dbriefs Global Mobility, Talent, and Rewards series Martin Rule, Senior Manager, Deloitte Tax LLP Nick Broomhead, Senior Manager, Deloitte Tax LLP Kevin
More informationLIST OF SUBSTANTIVE CHANGES AND ADDITIONS. Twenty third Edition (August 2015)
LIST OF SUBSTANTIVE CHANGES AND ADDITIONS Route To: Partners PPC's Guide to Managers Staff File Twenty third Edition (August 2015) Highlights of this Edition The following are some of the important update
More informationImportant Approaching Deadlines Please make note of these important approaching deadlines for calendar year plans:
Important Approaching Deadlines Please make note of these important approaching deadlines for calendar year plans: December 31, 2018 Final deadline for processing corrective actual deferral percentage
More informationTopical Index to Chapter 11 Penalties and Interest
Topical Index to Chapter 11 Penalties and Interest 11.01 Accuracy-related penalty 6662 Penalties grouped Negligence Substantial understatement of income tax Substantial valuation misstatement Substantial
More informationWorker Classification: Federal Tax Considerations
Worker Classification: Federal Tax Considerations June 14, 2011 Presenters: David R. Fuller Claudia L. Hinsch www.morganlewis.com Agenda Who are Independent Contractors? Why is Employee/Independent Contractor
More informationHEALTH and WELFARE PLAN CHECK-UP
HEALTH and WELFARE PLAN CHECK-UP Sarah L. Bhagwandin June 25, 2009 CAPLAW Seminar A Legislative Update American Recovery and Reinvestment Act of 2009 COBRA HIPAA Michelle s Law Cafeteria Plan Proposed
More informationEmployer Considerations When Offering Health Coverage under the SCA or DBA
Employer Considerations When Offering Health Coverage under the SCA or DBA Employers that are subject to the McNamara-O Hara Service Contract Act (SCA), Davis-Bacon Act (DBA), and Davis-Bacon Related Acts
More informationSUMMARY PLAN DESCRIPTION. The BMW Store 401(k) Retirement Plan
SUMMARY PLAN DESCRIPTION The BMW Store 401(k) Retirement Plan The BMW Store 401(k) Retirement Plan SUMMARY PLAN DESCRIPTION OVERVIEW... 1 I. BASIC PLAN INFORMATION... 2 II. PARTICIPATION... 3 III. CONTRIBUTIONS...
More informationKnox County Schools Procedure Descriptor Term: Descriptor Code: Issued: Fiscal Management. Payroll D-190 6/97 8/01
Fiscal Management Knox County Schools Procedure Descriptor Term: Descriptor Code: Issued: Payroll D-0 / Rescinds: Revised: /0 0 In an average month no less than six payrolls are produced: some months this
More informationBEST PRACTICES FOR EMPLOYEE BENEFIT PLAN COMPLIANCE
BEST PRACTICES FOR EMPLOYEE BENEFIT PLAN COMPLIANCE November 20, 2015 Presented by Wallingford Law, PSC J. Whitney Wallingford, Esq. e-mail: whitney@wallingfordlaw.com Brian A. Ritchie, Esq. e-mail: brian@wallingfordlaw.com
More information2018 Payroll Withholding and Payroll Tax Changes
Below is our annual summary of specific provisions relating to payroll and information reporting. The provisions will be effective January 1, 2018. Please review this information carefully and share it
More informationCHECKLIST OF ITEMS THAT MAY AFFECT YOUR 2017 TAX RETURN
CHECKLIST OF ITEMS THAT MAY AFFECT YOUR 2017 TAX RETURN 2017 Tax Year Key individual return provisions that EXPIRED in 2017: Exclusion of cancelled qualified principal residence mortgage debt Non-Business
More information2013 NEW DEVELOPMENTS LETTER
2013 NEW DEVELOPMENTS LETTER INTRODUCTION We have witnessed more tax changes and developments in 2013 than in any year in recent memory, and these changes impact virtually every individual and business
More informationJANUARY 1, 2012 CEDARVILLE UNIVERSITY MONEY PURCHASE PENSION PLAN SUMMARY PLAN DESCRIPTION
JANUARY 1, 2012 CEDARVILLE UNIVERSITY MONEY PURCHASE PENSION PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?...1 What information does this Summary
More information9 - Federal Tax Reporting/ Social Security
Illinois Municipal Retirement Fund Federal Tax Reporting & Social Security / SECTION 9 9 - Federal Tax Reporting/ Social Security APPENDIX - FEDERAL TAX REPORTING/SOCIAL SECURITY... 291 9.00 INTRODUCTION...
More informationfor public school employers retirement plan solutions 403(b) plan compliance guide
for public school employers retirement plan solutions 403(b) plan compliance guide AXA Equitable Life Insurance Company (NY, NY) Table of Contents About This Guide 1 AXA Equitable Experience, Knowledge,
More informationDeSain Financial Services 2018 Tax Questionnaire
Last Name: Last Name: Taxpayer First Name & Middle Initial: Taxpayer Social Security Number: Taxpayer First Name & Middle Initial: Social Security Number: Address: City, State, Zip: Home Phone: Work Phone:
More informationC4 PLANNING SOLUTIONS, L.L.C. RETIREMENT PLAN SUMMARY PLAN DESCRIPTION
C4 PLANNING SOLUTIONS, L.L.C. RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What kind of Plan is this?...1 What information does this Summary provide?...1 ARTICLE
More information2015 NEW DEVELOPMENTS LETTER
2015 NEW DEVELOPMENTS LETTER INTRODUCTION Over the past several years, we have experienced tax changes and developments at a much faster pace than just a few years ago. Consequently, keeping abreast of
More informationBrangham & Associates, Inc. Certified Public Accountant Accounting Taxes Consulting QuickBooks Training and Consulting
Brangham & Associates, Inc. Certified Public Accountant Accounting Taxes Consulting QuickBooks Training and Consulting 2017 Tax Document Checklist for Individuals We strongly encourage you to review and
More informationThe Small Business Employment Tax Guide
The Small Business Employment Tax Guide Roanoke Regional Small Business Development Center 210 S. Jefferson Street, Roanoke, Virginia 24011 www.roanokesmallbusiness.org Roanoke Small Business Development
More information