IRS Releases 2018 W-4

Chet Reilly • March 1, 2018 • Compliance

Following passage of the the Tax Cuts and Job Act in December 2017, the IRS has issued a new form W-4 for 2018. The IRS also released an updated tax withholding calculator on that employees can use to help determine their 2018 tax withholding. The IRS is not requiring employees to provide new W-4’s… Read more

IRS Extends Due Date to March 2, 2018 for Employers to Issue 2017 ACA Forms to Individuals

Chet Reilly • December 27, 2017 • Compliance

The IRS announced today that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2018, to provide Forms 1095-B or 1095-C to individuals, which is a 30-day extension from the… Read more

California Employers will owe additional FUTA Tax for 2017

Chet Reilly • November 19, 2017 • Compliance

For the 7th consecutive year, California Employers will be assessed additional federal unemployment taxes (FUTA) because the state failed to repay the outstanding loan balance to the federal government by the November 10th deadline. California Employers subject to FUTA, will pay an additional 2.1% on FUTA taxable wages (first $7000 of taxable wages times… Read more

Employers required to use new I-9 Form for 2017

Chet Reilly • December 22, 2016 • Compliance

The U.S. Citizenship and Immigration Services (USCIS) recently released a new version of Form I-9.  Employers must use only the new version beginning Jan. 22, 2017. The new I-9 form can be downloaded HERE. Among the changes in the new version, Section 1 asks for “other last names used” rather than “other names used,” and… Read more

FUTA Credit Reduction (Additional Tax) States Announced for 2015

Chet Reilly • December 2, 2015 • Compliance

Despite the improved job market and state budgets, a few states did not repay loans from the federal government that they used to pay unemployment claims. States with these federal loans had until November 10th to repay them or employers in these states would be assessed with additional Federal Unemployment Taxes (FUTA). Unfortunately, California was one of… Read more