Werfel Updates Congressional Committee on IRS’s Ongoing ERC Fraud Actions
By Debbie Tam On May 7, 2024, IRS Commissioner Daniel Werfel, during a hearing before the House Committee on Appropriations, discussed …
Draft of April 2024 Version of Form 941-X and Instructions Released
The IRS released drafts of Form 941-X and its instructions with an April 2024 revision date. Form 941-X. Employers use Form 941-X to correct …
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 …