Overview: Fringe benefits, such as health benefits, company cars, commuter transportation benefits and educational assistance plans, just to name a few, are the icing on the cake in attracting and retaining high quality employees. In this heavily regulated area, however, employers must stay abreast of frequent payroll tax law changes to prevent an otherwise tax-free fringe benefit from becoming fully taxable. Employers must also look out for changes to the special payroll tax rules that apply to other common types of payments such bonuses, severance pay and back pay.
Author: Rena Pirsos, JD, Legal Editor
Congress has voted to overturn the US Department of Labor rule regarding auto-enrollment IRAs. The joint resolution now heads to the President's desk for signature.
Updated to include the terminal charge and SIFL mileage rates for the first half of 2017.
Updated to include information on Qualified Small Employer HRAs, effective January 1, 2017.
Updated to reflect 2017 inflation-adjusted amounts.
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Payroll tax laws affecting fringe benefits and other common employer payments.