In an effort to help populations that had difficulties accessing and qualifying for federal relief during the COVID-19 pandemic, the city will award payments to up to 7,000 household employees who meet eligibility criteria.
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IRS Delays Implementation of New Tax Reporting Threshold for Mobile Payments
The IRS is delaying the implementation of a new tax reporting threshold for mobile payments that was set to take effect for the upcoming tax filing season. Here’s what it means for babysitters and household employees.
IRS Issues Reminder About New Tax Reporting Rule for Payment Apps
The IRS recently reminded taxpayers about the new tax-reporting threshold when receiving payments through mobile payment apps like Venmo or PayPal. If you receive $600 or more from these third-party payment platforms for work, side jobs, or selling goods, you’ll get a Form 1099-K in January.
4 States with Important 2023 Paid Family and Medical Leave Updates
Here are several important paid family and medical leave updates that impact household employers for 2023.
IRS Provides Tax Inflation Adjustments for Tax Year 2023
The IRS recently announced tax year 2023 annual tax inflation adjustments, including tax rate schedules. These adjustments generally apply to tax returns filed in 2024. Here are some of the other highlights.
Health FSA Contribution Limit Will Increase for 2023
For plan years beginning in 2023, the limit on an employee’s salary reduction contributions to a health FSA increases to $3,050. Here’s how a health FSA can save you and your worker money and help you attract and retain top talent.
Qualified Transportation Fringe Benefit Limits to Increase in 2023
The IRS has released its cost-of-living adjustments for employee-qualified transportation fringe benefits for the 2023 tax year.
Why You Should Plan for Much Higher Minimum Wage Rates in 2023
Minimum wage rates for next year – in many states and cities – are already seeing significant increases especially if they are tied to the Consumer Price Index or inflation. Here’s where it’s happening and what household employers need to know.
What are Pay Transparency Laws?
Pay transparency laws are popping up across the country. Household employers should be attentive to this trend as pay transparency may affect how they post their job openings and how they talk about pay and pay history during the hiring process. Here’s what families with household help need to know.
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