The Treasury Department and the IRS have issued Notice 2021-53, which provides guidance to employers about using Form W-2 to report the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. This is welcome news for many taxpayers, as this guidance covers the Families First Coronavirus Response Act asContinue reading “Sick and Family Leave Reporting Guidance”
Category Archives: Tax Compliance
State and Local Tax Considerations for Remote Employees
Until the pandemic, no one could have envisioned how profoundly remote employment would affect the workplace. The rise of the hybrid office has led to some complex tax questions. Click through for some thoughts on how tax rules apply in a remote or hybrid environment.
Is This Your Situation: Learning The Essentials of Payroll Tax
Is This Your Situation: Learning The Essentials of Payroll Tax 1. Extra compensation must be carefully timed. Incentivizing employees with bonuses is a great way to boost performance, and it’s important that the bonus checks are distributed at the same time that payroll taxes are paid. Otherwise, you could be subject to a penalty. TheContinue reading “Is This Your Situation: Learning The Essentials of Payroll Tax”
Connecticut Compliance Change (CT Public Act 19-25) Updates
On January 1, 2021, the Medical Law takes effect in Connecticut. The State Administered Insurance Program allows eligible employees to receive partial wages when they have medical or any other emergencies as part of Paid Family and Medical Leave[1]. The program endowment will be made from the employee’s contribution, not their employer. As of January 1, 2022, eligible employees with a full working year contribution may request claims for the State wage benefits.