Draft Form for Qualified Small Business Payroll Tax Credit Released
The IRS has issued an August 7, 2023 draft version of Form 8974, Qualified Small Business Payroll Tax Credit for Increasing …
Hot on the Hill: Proposed Legislation as of August 3, 2023
Ingrid Chawla Several pieces of proposed legislation introduced in the 118th Congress’ first session could significantly alter the American payroll …
Recent IRS Webinar Highlights ERC Key Compliance Issues and Signs of ERC Fraud
Debbie Tam On July 25, the IRS presented a webinar on the Employee Retention Credit (ERC) to provide information regarding …
Trendspotting: State-Run Retirement Programs
Debbie Tam In 2023, three states (Nevada, Minnesota, and Vermont) passed legislation to implement a state-run retirement program. The tally currently stands …
IRS Anticipates E-Filing for Amended Employment Tax Returns in 2024
Debbie Tam The IRS has provided an anticipated timeline for providing an electronic filing option for amended employment tax returns …
Summer Employment May Come With Tax Credits
This summer, certain employers may benefit from federal tax credits for employing qualified summer youth employees. The Work Opportunity Tax Credit (WOTC) …
ETAAC’s Annual Report to Congress Recommends IRS Prioritize E-Filing Employment Tax Returns and Enhance Duplicate Processing
As the IRS continues to chip away at its notable backlog of unprocessed employment tax returns and amended returns, the …
NLRB Reverses Position on Worker Misclassification Standards
Debbie Tam The National Labor Relations Board (NLRB) has issued a decision that reinstates its prior position requiring a 10-factor approach to determine …
DOL Indicates Final Independent Contractor Rule Coming No Later than October
Deborah Tam The U.S. Court of Appeals for the Fifth Circuit recently granted a 120-day delay on further proceedings related to an …
IRS Issues Draft 940 and 940 Schedule A Forms
The revised drafts of Form 940 (Employer’s Annual Federal Unemployment (FUTA) Tax Return) and Form 940 Schedule A (Multi-State Employer and Credit …