Pay for FFCRA Leave Must Now Be Reported on W-2s

Pay for FFCRA Leave Must Now Be Reported on W-2s

Employers are required to report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act (FFCRA) on Form W-2, according to guidance from the IRS and the U.S. Treasury Department. The guidance was provided...
2020 Standard Mileage Rates Announced by the IRS

2020 Standard Mileage Rates Announced by the IRS

On Dec. 31. 2019, the Internal Revenue Service (IRS) issued the 2020 standard mileage rates, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The mileage, medical, and moving rates all...
Here are the Final Forms for 2019 ACA Reporting

Here are the Final Forms for 2019 ACA Reporting

On Dec. 9, 2019, the Internal Revenue Service (IRS) released instructions and final forms for 2019 ACA reporting under Internal Revenue Code (Code) Sections 6055 and 6056. 2019 Forms 1094-C and 1095-C (and instructions) will be used by applicable large employers...
What to Know About the New Form W-4

What to Know About the New Form W-4

On Dec. 5, 2019, the Internal Revenue Service released an updated version of its new Form W-4, also known as the “Employee’s Withholding Certificate.” Employers use IRS Form W-4 to determine each employee’s federal tax withholdings. The new form is intended to...
What are the Employee Benefit Plan Limits for 2020?

What are the Employee Benefit Plan Limits for 2020?

Many employee benefits are subject to annual dollar limits that are periodically increased for inflation. The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the annual dollar limits for various welfare and retirement plan limits for...

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