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Payroll Today

Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 30 years. She’s written and edited several leading payroll publications, including Business Management Daily’s Payroll Legal Alert, the Research Institute of America’s Payroll Guide, Prentice Hall’s American Payroll Association’s Basic Guide to Payroll and the Payroll Manager’s Letter. She’s also the editor of Business Management Daily’s Payroll Compliance Handbook and The Complete FLSA Compliance Kit.

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Have you digested the IRS’ new website yet? Well, there’s more. If everything goes according to plan, in late October, the IRS will roll out a new two-factor authentication process to access e-Services. Even if you’re currently registered to use e-Services, you’ll have to register again …

The Social Security Administration has announced that the taxable wage base for the Social Security portion of FICA will increase to $128,700 in 2018. That’s a 1.179% hike over the 2017 wage base of $127,200.

The Disaster Tax Relief and Airport and Airway Extension Act of 2017 (P.L. 115-63), which became effective Sept. 29, 2017, extends relief to victims of the various hurricanes that have battered the U.S. since late August.

The IRS has released some key information regarding the Affordable Care Act for the coming plan year. If you operate on a calendar year basis, that’s now fewer than three months away.

Tax reform kicks off

by on September 28, 2017 2:44pm
in Payroll Today

On Sept. 27, Congress and President Trump released a framework that provides some top-level detail about the coming tax reform debate. What follows is a look at what we know now—although it is safe to say that the details will change many times before legislation is enacted.

Scams to steal employees’ W-2 data are common and you can assume that new ones will bubble up this coming W-2 filing season. Worse: The IRS now reports that there’s been a sharp increase in the number of fraudulently filed Forms 1120 and 1120S, as well as Schedule K-1s. If you’ve experienced any the following, your business identity has probably been stolen …

Proposed regulations to be published in the Sept. 20, 2017, issue of the Federal Register would make good on 2015 legislation that allows you to truncate employees’ Social Security numbers (SSNs) on their copies of W-2s. Truncated SSNs will be called TTINs. It’s not as easy as it seems …

Every time the IRS redesigns its website, it gets just that much more boring. Its original website had cool cartoons, which injected a little bit of humor—and goodness knows, humor and taxes don’t normally run together. Leaving aside the stock photos of smiling taxpayers (something else that doesn’t normally run together), the second iteration’s home page was busy, but merely boring. And now we have the third iteration, which, the IRS says, is more suited to mobile platforms …

This week is National Payroll Week—the week everyone, from the IRS to the C-suite to every child in need of child support, should give Payroll one big "Thank You!" In honor of National Payroll Week, we’ve gathered some graphics that demonstrate Payroll is the key player in funding the government and other areas, too.

On Aug. 30, the IRS announced that it is relaxing many procedural rules that apply to employees affected by Hurricane Harvey who need to take hardship distributions or loans from their 401(k) plans.

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