IRS Issues March Update on Lock-In Letters

Issue Number: 2020-03 Redesigned Withholding Compliance Lock-In Letters 2800C and 2808C coming soon The Tax Cuts and Job Act of 2017 (TCJA) changed withholding calculations by eliminating allowances, and in response, the IRS redesigned Form W-4, Employee’s Withholding Certificate. The Service is also redesigning the Withholding Compliance Lock-in Letters to reflect these changes. Effective January

Treasury Inspector General for Tax Administration – Press Release

January 20, 2016 TIGTA – 2016-01 Contact: Karen Kraushaar, Director of Communications (202) 622-6500 J. Russell George Urges Taxpayers to Remain on “High Alert” Expanded Outreach Effort Announced to Prevent More Losses to IRS Impersonators WASHINGTON — The Treasury Inspector General for Tax Administration (TIGTA) urged taxpayers to remain on “High Alert” and announced

Update from Domingo Castillo @ U.S Department of Labor Wage & Hour Division

I want to share the following updates under the FLSA.   The New Overtime Rule went into effect on January 1, 2020, additional information can be found here   The Regular Rate Final Rule went into effect on January 15, 2020.  To gain guidance in determining the regular rate click here   And

IRS Issues 2020 Version of IRS Publication 15-B (Employer’s Tax Guide to Fringe Benefits)

The IRS has issued the 2020 version of Publication 15-B (Employer’s Tax Guide to Fringe Benefits). The “What’s New” section of the publication includes information on the 2020 business mileage rate under the “cents-per-mile rule” (see Business Mileage Rate Decreasing in 2020, 1/02/2020), the monthly exclusion for qualified parking and commuter transportation benefits (see Payroll Guide ¶

IRS Issues 2020 Withholding Tables

IRS Publication 15-T (Federal Income Tax Withholding Methods) has been finalized. The publication includes 2020 percentage method and wage bracket withholding tables, withholding adjustments for nonresident alien computations, alternative methods for figuring withholding, and the tables for withholding on distributions of Indian gaming profits to tribal members. Withholding calculations are quite different than in previous years due