During recent testimony before the Internal Revenue Service, the American Benefits Council recommended changes to proposed regulations on supplemental wage withholding requirements.
Employers will no longer be required to send copies of potentially questionable
W-4 withholding forms to the Internal Revenue Service, the IRS announced yesterday.
Undocumented workers in the United States are contributing as much as $7 billion
a year into the Social Security system but are not entitled to benefits, the
New York Times reports.
Payments by employers to employees made in connection with employment contracts
must be treated as wages for purposes of FICA, FUTA, and Federal income tax
withholding, according to two rulings published by the Treasury Department and
the IRS.
Changes in the U.S. Treasury Department?s TreasuryDirect account system mean
that virtually all employers can now allow employees to purchase U.S. Savings
Bonds through payroll deduction.
The Internal Revenue Service is indefinitely extending its Tip Rate Determination
and Education Program, a voluntary compliance tool that the agency says has
helped nearly double the reporting of tip income.
After a review found that some IRS employees may have used improper deductions
to lower their taxes, the IRS says it is taking additional steps to ensure its
employees adhere to tax law
The Internal Revenue Service last week posted to its website new tables for
employers to use in figuring how much federal income tax to withhold from workers'
wages.
