IRS Updates Substitute Form 941, Schedules, and 8974 Specifications
The IRS has released updated guidance for specifications for substitute Form 941 (Employer’s Quarterly Federal Tax Return), Schedule B (Form …
Shift Workers May Be Affected by March 10 Daylight Savings Time Change
Daylight savings time begins at 2:00 a.m. on March 10, when clocks are set ahead by one hour across most …
Leap Year May Cause Extra Paydays
A leap year is a calendar year that contains an additional day compared to a common year. The 366th day …
Payroll on Point: Employee Inquiries on Withholding During Tax Filing Season
By Debbie Tam Checkpoint’s Payroll on Point series explores common payroll scenarios and offers practical guidance. Question: Now that the 2023 …
PayrollOrg Encourages United Nations to Develop AI Guidelines in Payroll to Identify Potential Biases
In a letter to the United Nations (UN) Office of the Secretary-General’s Envoy on Technology, PayrollOrg (PAYO) encouraged the global organization to develop …
Fact Sheet Contains Revised Form 1099-K FAQs
The IRS has issued Fact Sheet 2024-3, which contains revised frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third-Party Network …
Draft 2024 Form W-2 Instructions Note E-Filing Threshold Change and New Box 12 Code
The draft 2024 IRS Form W-2, Wage and Tax Statement, instructions note the threshold change for the electronic filing of several information …
Governors Ask IRS for Guidance on Taxability of State Paid Family Leave
Nine governors signed a letter to the IRS urging clarification and guidance on the federal tax treatment of state paid family and …
Instructions for EIN Application Updated
The IRS updated the instructions for Form SS-4, Application for Employer Identification Number, with a revised date of December 2023. Form SS-4. …
National Taxpayer Advocate “Very Concerned” About ERC Claims Delay in 2024
In its annual report to Congress, the National Taxpayer Advocate (NTA) said it was “very concerned” about delays in processing employee retention …