TIGTA Report Reveals Businesses Fail to Receive COVID-19 Tax Relief Due to Continued Delayed IRS Processing
The Treasury Inspector General for Tax Administration (TIGTA) released a report regarding its continued review of the IRS’s efforts to …
IRS Releases Draft of Schedule R of Annual Return for Agricultural Employees
The IRS has released the 2022 draft of Schedule R for Form 943 (Employer’s Annual Federal Tax Return for Agricultural Employees). Schedule …
IRS Backlog for Processing Forms 941 Increasing
The IRS backlog for processing Forms 941 (Employer’s Quarterly Federal Tax Return) is increasing, according to the Service’s webpage on mission-critical functions. Mission-critical. …
10-Year Statute of Limitations Established for Paycheck Protection Program Loan Fraud
On August 5, 2022, President Biden signed the PPP and Bank Fraud Enforcement Harmonization Act of 2022 (HR7352) that establishes a 10-year …
Hot on the Hill: Proposed Legislation as of August 4, 2022
Several pieces of proposed legislation introduced in the 117th Congress’ first session could significantly alter the American payroll landscape. Bills in …
Client Update: Nonemployee Compensation, Backup Withholding
Most business owners should know they need to withhold employment taxes (social security, Medicare, and income taxes) from their employees’ …
Think Tank Analysis Finds Current Federal Minimum Wage Rate at Lowest Value in 66 Years
On July 14, 2022, a nonpartisan, nonprofit think tank provided recent analysis of the Consumer Price Index (CPI) that shows the federal …
U.S. Ending Tax Treaty With Hungary
The Treasury Department has begun dismantling the United States’ tax treaty with Hungary, (see Payroll Guide ¶21,475) whose government recently blocked …
Independent Contractor and H-2A Visa Rules Received by White House Subcommittee
The White House’s Office of Management and Budget (OMB) subcommittee, the Office of Information and Regulatory Affairs (OIRA), has received rules from …
IRS Tightens Compliance Standard for Employer OICs
The IRS has provided interim guidance on when an employer is “in compliance” with its federal tax deposit requirements for …