518-373-4111
2022 Transportation Fringe Benefit Limits Have Increased
The IRS has released Revenue Procedure 2021-45, which includes cost-of-living adjustments for employee qualified transportation fringe benefit limits for the 2022 taxable year, along with annually adjusted numbers for 2022 for a number of other tax provisions. The...
2022 Retirement Contribution Limits for 401K and IRA Plans
The Internal Revenue Service (IRS) has released Notice 2021-61, containing cost-of-living adjustments for 2022 that affect retirement contribution limits for employee 401(k) plans and individual retirement accounts (IRAs). 2022 401K and IRA Contribution Increases The...
Here is Employer Guidance for Reporting 2021 FFCRA Leave
IRS Notice 2021-53, issued Sept. 7, 2021, provides guidance for employers on reporting sick and family leave wages for employee leave taken in 2021 under the Families First Coronavirus Relief Act (FFCRA), as amended by the COVID-related Tax Relief Act of 2020 and the...
