All Items: Payroll

  • 2016 Pension Plan Limits, 401(k) Deferral Limit Unchanged

    October 22, 2015

    The Internal Revenue Service (IRS) has announced the tax year 2016 cost-of-living adjustments affecting dollar limitations on benefits and contributions under qualified retirement plans and other inflation-adjusted amounts. The pension plan limitations will not change for 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment

  • IRS Announces 2016 Inflation Adjustments to Fringe Benefits, Increase in Qualified Parking Benefit Amount

    October 22, 2015

    The IRS has announced the 2016 annual cost-of-living adjustments made to several employee benefits and taxable amounts, based on changes to the Consumer Price Index. These are the maximum amounts that may be excluded in 2016 from an employee's taxable income for specific benefits.

  • Social Security Wage Base, FICA Tax Rates Unchanged For 2016

    October 19, 2015

    The Social Security Administration (SSA) has announced that the Social Security taxable wage base will not be adjusted for inflation and will remain $118,500 for 2016. Accordingly, FICA tax rates will also stay the same.

  • IRS Issues Optional 'High-Low' and Special Per Diem Rates for 2015-2016

    September 18, 2015

    The IRS has issued Notice 2015-63 announcing the annual list of "optional high-low" federal per diem rates, effective for travel undertaken on or after October 1, 2015 .

  • SSA Revises SSN Application Rules, Updates SSNVS Handbook for Employers

    September 2, 2015

    The Social Security Administration (SSA) has issued a final rule, effective September 9, 2015, revising its regulations regarding the procedures an individual should follow to apply for a Social Security Number (SSN) card. The rule also revises certain related evidence requirements. The Social Security Number Verification Service (SSNVS) Handbook has also been updated.

  • IRS Launches Early Interaction Initiative

    August 27, 2015

    The IRS has launched an Early Interaction Initiative, aimed at helping employers understand and meet their payroll tax responsibilities. The initiative may help reduce employment tax delinquencies, along with interest and penalties, which may accrue as a result of an employer missing required payments.

  • Federal Standard Per Diem Rates for FY 2016 Released

    August 25, 2015

    The General Services Administration (GSA) has announced the per diem rates that apply to the lower 48 Continental United States (CONUS) for the federal government's fiscal year (FY) 2016, which begins October 1, 2015. Any employer may use these rates to reimburse an employee who travels away from home overnight, in lieu of reimbursing his or her actual expenses.

  • New IRS Rules Eliminate Automatic Form W-2 Filing Extension

    August 19, 2015

    The IRS has issued a set of final, temporary and proposed regulations that remove the automatic extension of time to file information returns on the W-2, Wage and Tax Statement, series of forms (except Form W-2G, Certain Gambling Winnings). The temporary regulations allow only a single 30-day nonautomatic extension of time to file Forms W-2. Comments are requested on the proposed rules.

  • IRS Issues Guidance on Tax Treatment of Identity Theft Protection Services

    August 14, 2015

    To help combat the growing problem of identity theft in the US, the IRS has issued guidance on the taxability of identity protection services provided by an employer at no cost to employees whose personal information may have been compromised in a data breach. The IRS is also requesting comments from employers on other related issues.

  • California Labor Commissioner Issues $2.2 Million in Wage Theft Citations

    August 11, 2015

    California Labor Commissioner Julie A. Su issued more than $2.2 million in citations to the owners of three residential care facilities for what were deemed "egregious" wage theft violations.

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News: HR and legal considerations for employers regarding payroll.