Federal Alerts

IRS Information Reporting Penalty Amounts Indexed for Tax Year 2019

Thursday, January 3, 2019
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Compliance Corner
The Internal Revenue Service (IRS) has announced via Revenue Procedure 2018-57 the penalties under the Internal Revenue Code (IRC) for failure to file correct Information Returns, such as Forms W-2, 1099 and 1095-C, by the due date, and failure to furnish correct Information Returns to employees and other recipients by the required due date for tax year 2019.

Due Date for Furnishing IRS 2018 Forms 1095-C Extended

Thursday, January 3, 2019
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Compliance Corner
In furtherance of a practice reinstituted earlier this year, the DOL’s Wage Hour Division (WHD) issued Opinion Letter FLSA 2018-25 which provides guidance to employers paying exempt employees on an hourly, daily, or shift basis by addressing the requirement in 29 C.F.R. Section 541.604(b) that a “reasonable relationship” exist between an exempt employee’s guaranteed amount and the amount actually earned.

DOL Issues FLSA Opinion Letter Addressing Reasonable Relationship Test

Thursday, January 3, 2019
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Compliance Corner

In furtherance of a practice reinstituted earlier this year, the DOL’s Wage Hour Division (WHD) issued Opinion Letter FLSA 2018-25 which provides guidance to employers paying exempt employees on an hourly, daily, or shift basis by addressing the requirement in 29 C.F.R. Section 541.604(b) that a “reasonable relationship” exist between an exempt employee’s guaranteed amount and the amount actually earned.

2019 Percentage Method Withholding Tables Released by IRS

Thursday, January 3, 2019
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Compliance Corner
The Internal Revenue Service has released the “Early Release Copies of the 2019 Percentage Method Tables for Income Tax Withholding” that employers may use to determine the amount of federal incomes taxes that it must withhold form its employees’ pay each pay period.
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