Form 1040 “800-Pound Gorilla” When It Comes to Employment Tax Modernization, Legal Expert Says
A former Associate Tax Legislative Counsel at the Treasury Department said the Form 1040 individual income tax return is the “800-pound …
IRS Issues 2023 Draft Form 941-X With Minor Changes As Backlog Continues to Grow
A few days before the IRS issued an April 2023 draft version of Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return or …
Court Rules Insufficient Penalty Notice May Determine Payment as Deposit Not Subject to Additional Interest
Lisa B. Fagan The U.S. Court of Appeals for the Third Circuit has ruled whether a remittance is a deposit …
Employment Tax Payment Violations Result in Prison Time
A business owner in Miami, Florida will spend two and a half years in prison after willfully failing to remit …
Hot on the Hill: Proposed Legislation as of March 30, 2023
Ingrid Chawla Several pieces of proposed legislation introduced in the last the 118th Congress’ first session could significantly alter the American …
Director at IRS Says “Think Twice” Before Claiming Expired COVID-19 Employee Retention Credit
Christopher Wood During a payroll conference in Washington D.C. on March 20, a director at the IRS warned taxpayers to …
Small Businesses Seek to Provide Input on Paid Leave Discussions
Ingrid Chawla The Small Business Ecosystem Group, an industry group representing businesses including Etsy, Pinterest, Eventbrite, Patreon, and others, penned …
IRS Begins Digitalization Efforts Starting with Forms 940
The IRS has announced that it has started a new Digital Intake initiative with its initial efforts aimed at the digital …
Medical Center’s Automatic Lunch Break Deductions Violated FLSA and Reminds Employers to Properly Account for All Hours Worked
An investigation that determined an employer’s automatic 30-minute meal deductions violated federal overtime and recordkeeping law is a reminder to employers about …
Supreme Court: Overtime Exemption Doesn’t Apply to Highly Compensated Employee Paid Daily Rate
The U.S. Supreme Court has ruled that a highly compensated employee, one who earns over $200,000 annually, paid at a …