Government

IRS News 2017_05

IRS NEWS FOR PAYROLL AND HUMAN RESOURCES May 2017  ►UPCOMING WEBINARS  *Closed captioning offered for afternoon web conferences ONLY.Understanding Form 8300 – 75 minutes (Report of Cash Payments Over $10,000 Received in a Trade or Business) June 15, 2017 – 10 am Central; 9 am Mountain Register & Attend: https://www.webcaster4.com/Webcast/Page/1148/20341 June 15, 2017 – 1 pm Central; 12 pm Mountain; * Register & Attend:  https://www.webcaster4.com/Webcast/Page/1148/20342 Continuing Education: All participants who qualify will receive a Certificate of Completion.  See Webinars for Small Businesses for upcoming National and Local Webinars  Click HERE for videos recently posted to the IRS Video Portal.    ►NEWS Private Collection of Some Overdue Federal Taxes Starts in April; Thos...

[MN UPDATE] Happy National Small Business Week: April 30 – May 6

News release: Minnesota Department of Revenue debuts centralized online Business Center during Small Business Week Minnesota Department of Revenue sent this bulletin at 05/02/2017 12:39 PM CDT Minnesota Department of Revenue debuts centralized online Business Center during Small Business Week ST. PAUL, Minn. – The first week of May is National Small Business Week. To mark the week, the Minnesota Department of Revenue is highlighting the online resources it offers businesses by launching a new online Business Center. Businesses and organizations of all sizes and types can now find business tax information and resources — including fact sheets, industry guides, forms, and training information — in one central location on the department’s website. “We strive to provide taxpayers w...

IRS Tax Security Awareness Week

Tax Security Awareness Week Resources (Please click each heading for more information) IRS, Security Summit Partners Announce “National Tax Security Awareness Week” beginning Dec. 5 As part of the Security Summit effort, the IRS, the states and the tax community will share a variety of information throughout next week to educate taxpayers on steps they should take to protect themselves from identity theft and tax scams, as well as protect their valuable financial data in advance of the upcoming filing season. Taxes. Security. Together. Our “Taxes. Security. Together” awareness campaign is an effort to better inform you about the need to protect your personal, tax and financial data online and at home. Protect Your Clients; Protect Yourself Tax professionals are being targeted b...

Federal Judge Blocks New FLSA Overtime Rule

A federal judge in Texas has blocked the new FLSA rule set to begin on December 1st. U.S. District Judge Amos Mazzant ruled that the Labor Department exceeded its authority in setting the new guidelines. 21 states and many business groups requested the injunction in federal courts. The judge agreed with the request, stating that the Department of Labor exceeded its authority by creating this rule. The new rule would have extended mandatory overtime requirements to about 4 million Americans. By blocking this rule, the mandatory salary threshold for receiving overtime will stay at $455 a week ($23,660 a year). This new rule would have meant that those Americans earning less than $913 a week ($47,476 a year) would have been eligible for mandatory overtime. You can read more about this change ...

New Jersey will Maintain Reciprocal Agreement with Pennsylvania

After stating that he would end the New Jersey/Pennsylvania reciprocity agreement, New Jersey Governor Chris Christie (R) on Tuesday, November 22nd reversed his decision. New legislation that allows for the saving of $200 million in health care costs for New Jersey taxpayers allowed for the agreement to continue. You can read more about this change at the NJ.com website.   SHARE

BREAKING NEWS | IRS extends 2016 Affordable Care Act reporting deadlines

On November 18, 2016, the Internal Revenue Service (IRS) issued Notice 2016-70 which extends the due date for certain 2016 information reporting requirements under the Affordable Care Act (ACA). The Notice provides an automatic extension of the deadline for furnishing applicable ACA forms to individuals. The relief applies to: Applicable Large Employers required to furnish employees with information and file information with the IRS under the Internal Revenue Code (Code) Section 6056 Health insurers Employers that sponsor self-insured health plans Other providers of Minimum Essential Coverage that are required to furnish individuals with information and file information with the IRS under Code Section 6055 Specifically, the Notice extends the deadline for furnishing to individuals the 2016...

Government Update: 2016_11

Changes to Indiana County Income Tax There will soon be a change to county withholding taxes in the state of Indiana. Effective January 1, 2017, county income tax rates will be identical for residents and nonresidents subject to a local income tax. Under the previous withholding rules, a different rate was imposed on residents of the county and those that lived outside of the particular county. There are no changes to the rules regarding the determination of which county tax must be withheld from an individual. All county taxes are determined based upon an individual’s resident or workplace county as of January 1st of the taxing year. County withholding guidelines will remain the same as follows: Residents of an Indiana county on January 1st – Withhold based upon the rate of the county in ...

Special: ITIN Program Changes

Help spread the word about recent changes to the ITIN program This material has been developed by the IRS to support your efforts in encouraging taxpayers to renew their ITIN now if they plan to file a tax return in 2017. You’ll find useful content in several languages, including a fact sheet, a printable flyer and specialized products and links to other helpful resources. Also, Twitter images and messages in English and in Spanish are available to reach out to the community active in the social media platforms – check it out! What Can We Help You Find? ·         Visit the ITIN information page on IRS.gov and take a few minutes to understand the guidelines.   ·         See versions in English and Spanish of the letter sent to over 300,000 affected taxpayers.   ·         Find an o...

Government Update: 2016_10

IRS NEWS FOR PAYROLL AND HUMAN RESOURCES October 2016  ►UPCOMING WEBINARS See Webinars for Small Businesses for upcoming National and Local Webinars Click HERE for videos recently posted to the IRS Video Portal.   ►NEWS IRS Launches New Sharing Economy Resource Center on IRS.gov, Provides Tips for Emerging Business Area The IRS launched a new web page designed to help taxpayers involved in the sharing economy quickly locate the resources they need to help them meet their tax obligations. The sharing economy has changed how people commute, travel, rent vacation places and perform many other activities. Also referred to as the on-demand, gig or access economy, sharing economies allow individuals and groups to utilize technology advancements to arrange transactions to generate revenue fr...

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