The more things change, the more they stay the same. After months of speculation, the 2019 Form W-4 has arrived—and it isn’t nearly as worrisome as payroll professionals thought it would be.
On December 11, the IRS quietly added the 2019 Form W-4 to its website, unaccompanied by the usual press release. With the exception of a few minor wording changes, the form is virtually identical to the 2018 edition.
Everyone’s heard the saying, “you scratch my back, I’ll scratch yours.” In payroll, when these agreements happen between states, we call them reciprocal agreements. In other words, “you take my tax, I’ll take yours.”
The holiday season is known for a lot of pleasant things—eggnog, scented candles, and family time all come to mind. But if you’ve been in the payroll profession long enough, there’s a good chance you associate it with something else: federal and state tax notices. And when those come in, it’s time to pick up the phone. Gulp.
Call it an annual holiday tradition. Every year, the IRS publishes a new set of contribution limits for a variety of popular benefits, including flexible savings accounts and commuter plans. With a series of announcements spaced over the last several weeks, the agency has finally settled on all major limits for 2019.
Contractor or employee? With 57 million workers, or 36 percent of the U.S. workforce, participating in the gig economy, the line between contractors and employees has never been blurrier. The tax filing implications are even more complicated.
New year, new limits. Earlier this month, the IRS published its long-awaited updates to 401(k) and IRA contribution limits for 2019.
Because retirement plans can be funded on a pretax basis (meaning deductions are taken from employee paychecks before taxes like social security), the IRS limits how much employees can contribute to them annually. These limits are subject to a periodic review to account for changes in the cost of living, inflation, and other factors.
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For HR and payroll professionals, the holiday season means a whole lot more than gingerbread and mistletoe. The transition between years brings tax deadlines, ACA reporting requirements, bank holidays, and more.
The decade's most hotly anticipated change to employment law has been delayed yet again.
Last week, the Department of Labor (DOL) announced that it was postponing the release of its overtime rule changes until March 2019. Earlier this year, the agency said it hoped to unveil them by January. The announcement marks just the latest turning point in a regulatory soap opera that dates back to 2015.
We’ve all heard the old saying about death and taxes. But going further, what are the tax implications of death?
There’s no denying the emotional toll when we lose a loved one or colleague. But even in death, payroll still needs to be processed. We'll break down the common scenarios that might occur when an employee passes.
Payroll isn’t for the faint of heart. Of those who are brave enough to tackle the intricacies of multistate taxation, FUTA credit reductions, and wage garnishment, only a select few earn the full endorsement of the American Payroll Association (APA).