Government

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...

2016_06 Government Update

Federal System Error Causes Some IRS Deposits to Reflect as Late Some late notices were incorrectly sent to employers regarding the May 31 (next-day depositors) and June 2 (semiweekly depositors) required deposits. Due to a programming error, the IRS’s system did not reflect Memorial Day as a national holiday. Employers are given an extra day to make a required deposit if the deposit’s due date is on a weekend or national holiday. Employers may receive a “Failure-to-Deposit Penalty” or “Notice of Incorrect Deposit, Penalty Waived” notice due to this error. If the employer receives a “Failure-to-Deposit Penalty” notice, a new notice will be sent to employers advising that the account was corrected and no penalty was owed. For employers receivi...

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