All Items: Payroll

  • IRS Issues 2015 Form W-4

    Date:
    12 December 2014

    The IRS has released the 2015 Form W-4, Employee's Withholding Allowance Certificate, which employers use to determine the amount of federal income taxes to withhold from employees' pay.

  • IRS Issues Form 940 for Tax Year 2014

    Date:
    11 December 2014

    The IRS has issued the 2014 Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return; Schedule A (Form 940), Multi-State Employer and Credit Reduction Information; Schedule R (Form 940), Allocation Schedule for Aggregate Form 940 Filers; and the Instructions for Form 940. The due date for filing Form 940 is February 2, 2015.

  • 2015 Federal Percentage Method Withholding Tables Released by IRS

    Date:
    09 December 2014

    The IRS has released advance copies of the federal percentage method withholding tables effective for wages paid in 2015. The withholding allowance amounts by payroll period have changed from the 2014 amounts.

  • IRS Clarifies Form 941-X Instructions for Correcting Certain AMT Withholding Errors

    Date:
    05 December 2014

    The IRS has posted a document to its website clarifying the instructions for line 11 of Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund. The clarifications explain how an employer should correct various types of errors relating to withholding of Additional Medicare Tax (AMT).

  • IRS Updates Guidance on Taxation of Electronically-Provided Qualified Transportation Fringe Benefits

    Date:
    26 November 2014

    The IRS has issued Revenue Ruling 2014-32 (Rev. Rul.) providing guidance on the tax consequences of employer use of smartcards, debit or credit cards, or other electronic media to provide qualified transportation fringe benefits to employees. The Rev. Rul. also discusses whether mandatory delivery charges employees incur when ordering vanpool vouchers are qualified transportation fringe benefits.

  • Local Lodging Expense Regulations Finalized by IRS

    Date:
    20 November 2014

    The IRS has adopted as final regulations that clarify proposed regulations issued in 2012 allowing employers to reimburse employees who are not away from home overnight for their local lodging expenses as a tax-free working condition fringe benefit (rather than a taxable personal expense) under the Internal Revenue Code.

  • 2014 FUTA Tax Rate Will Be Higher for Employers in Seven States

    Date:
    13 November 2014

    The DOL has identified seven FUTA credit-reduction states for 2014. Employers in those states will pay a greater amount of federal unemployment tax as a result.

  • States Announce 2015 Unemployment Insurance Taxable Wage Bases

    Date:
    06 November 2014

    To help employers prepare their payroll operations for 2015, this chart provides a comparison of the 2015 and 2014 state unemployment insurance taxable wage bases.

  • IRS Announces 2015 Inflation Adjustments to Fringe Benefits, Other Taxable Amounts

    Date:
    31 October 2014

    The IRS has announced the 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 2015 from an employee's taxable income for specific benefits.

  • New York Employers Must File Electronically in 2015

    Date:
    29 October 2014

    Effective with returns due on and after April 30, 2015, all New York employers will be required to file certain withholding tax and unemployment insurance (UI) returns electronically.

About this category

News: HR and legal considerations for employers regarding payroll.