Effective January 1, 2014, restaurants and other employers with tipped employees must change the way certain tips are reported. Although Rev. Rul. 2012-18 took effect in 2012, examiners in some circumstances could apply it to amounts paid after December 31,...
In Revenue Ruling 2011-29, the Internal Revenue Service (IRS) ruled that a taxpayer can establish the “fact of the liability” under §461 for bonuses payable to a group of employees even though the employer does not know the identity of any particular bonus recipient...
In IR-2011-085, the Internal Revenue Service (IRS) announced that interest rates for the fourth quarter of 2011 would decrease from the third quarter. The rates are as follows: Three (3) percent for overpayments [two (2) percent in the case of a corporation]; Three...
In IR-2011-017, the Internal Revenue Service (IRS) announced that interest rates for the second quarter of 2011 would increase from the first quarter. The rates are as follows: Four (4) percent for overpayments [three (3) percent in the case of a corporation]; Four...
In IR-2010-120, the Internal Revenue Service (IRS) announced that interest rates for the first quarter of 2011 would decrease from the fourth quarter. The rates are as follows: Three (3) percent for overpayments [two (2) percent in the case of a corporation]; Three...
This week’s question comes from Eric, an HR manager. I know there are changes to flexible spending arrangements (FSAs) because of health care reform. How does health care reform affect reimbursements for over-the-counter medicines in FSAs? Answer: The Patient...
In IR-2010-090, the Internal Revenue Service (IRS) announced that interest rates for the fourth quarter of 2010 would remain unchanged from the third quarter. The rates are as follows: Four (4) percent for overpayments [three (3) percent in the case of a corporation];...
In IR-2010-065, the Internal Revenue Service (IRS) announced that interest rates for the third quarter of 2010 would remain unchanged from the second quarter. The rates are as follows: Four (4) percent for overpayments [three (3) percent in the case of a corporation];...
In Rev. Rul. 2010-13, Average Premium for Small Group Market for Determining the Small Employer Health Insurance Credit, the Internal Revenue Service (IRS) and the Department of Health and Human Services (HHS) released the chart containing the small group market in...
In IR-2010-022, the Internal Revenue Service (IRS) announced that interest rates for the second quarter of 2010 would remain unchanged from the first quarter. The rates are as follows: Four (4) percent for overpayments [three (3) percent in the case of a corporation];...
In IR-2009-107, the Internal Revenue Service (IRS) announced that interest rates for the first quarter of 2010 would remain unchanged from the fourth quarter. The rates are as follows: Four (4) percent for overpayments [three (3) percent in the case of a corporation];...
The Internal Revenue Service (IRS) recently released Revenue Ruling 2009-32, Paid Time Off Contributions at Termination of Employment. This Revenue Ruling addressed two issues: Do the amendments described [in the ruling] to an existing qualified profit sharing plan...
The Internal Revenue Service (IRS) recently released Revenue Ruling 2009-31, Annual Paid Time Off Contributions. This Revenue Ruling addressed two issues: Do the amendments described [in the ruling] to an existing qualified profit sharing plan requiring or permitting...
The Internal Revenue Service (IRS) recently released Revenue Ruling 2009-30, Automatic Contribution Increases under Automatic Contribution Arrangements. This Revenue Ruling addressed two issues: Will default contributions to a profit-sharing plan fail to be considered...
The Treasury Department recently released the following statement by Treasury Secretary Tim Geithner: “[Recently], the Administration announced steps we are taking to make it easier for working families to save, particularly for retirement. Working Americans should be...
In IR-2009-73, the Internal Revenue Service (IRS) announced that interest rates for the fourth quarter of 2009 would remain unchanged from the third quarter. The rates are as follows: Four (4) percent for overpayments [three (3) percent in the case of a corporation];...
This week’s question comes from Rocco, a plant manager. We pay employees on active military duty a differential wage that makes up for wages that they would have earned had they not been on active military duty. Which payroll taxes do we need to pay on differential...
Revenue Ruling 2009-11, Differential Wage Payments to Active Duty Members of the Uniformed Services, §3401(h)
In Rev. Rul. 2008-45, the IRS ruled that the transfer of the sponsorship of a retirement plan from an employer to an unrelated entity when not connected “with a transfer of business assets, operation, or employees” is a violation of the exclusive benefit rule of...
In Revenue Ruling 2008-29, the IRS clarified the amount of federal income tax to be withheld on certain supplemental wages. Situations covered include sales commissions, draws, signing bonuses, severance pay, annual leave, vacation and sick pay, and sick pay paid at a...
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