Payroll Sections of Employment Law Manual Updated for 2015

Author: Rena Pirsos, XpertHR Legal Editor

As each year ends and a new one begins, many federal legislative and regulatory changes are made that impact payroll/HR operations and compliance efforts. Some are expected, such as:

  • Annual inflationary adjustments for fringe benefit limits and other taxable amounts, and pension plan and 401(k) limitations;
  • Federal per diem rate changes;
  • FICA taxable wage base changes; and
  • Standard mileage and SIFL rate changes.

Other changes are not as predictable. For example, for 2015, employers must comply with new laws, regulations and guidance regarding:

  • Taxation of local lodging expenses;
  • Taxation of electronically provided qualified transportation fringe benefits;
  • New Form 941-X instructions for correcting AMT withholding errors;
  • Reporting adjustments and corrections due to the retroactive parity for 2014 mass transit and parking benefits; and
  • Third-party sick pay reporting on New Form 8922.

The following sections of the federal Employment Law Manual have been fully updated with all of these changes, and more, for 2015: