Changes Under SECURE 2.0 Act to Affect Amounts Report by Businesses on Forms W-2, FS-2024-29
The IRS has reminded businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the […]
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The IRS has reminded employers that educational assistance programs can be used to help employees pay off student loans until December 31, 2025. This option, available since March 27, 2020, allows funds from these programs to cover both the principal and interest on qualified student loans. Traditionally used for expenses like tuition and books, these programs now offer tax-free benefits up to $5,250 per employee annually, covering federal income, Social Security, Medicare, and federal employment taxes. Amounts above this limit are taxable. Employers without such programs may consider establishing them, as they can attract and retain talent. The programs must be in writing and nondiscriminatory. For more details, employers can refer to IRS publications, including Publication 15-B and Chapter 10 of Publication 970.
The IRS has reminded businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the […]
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The IRS and the Security Summit concluded their eight-week summer awareness campaign by urging tax professionals to implement stronger security […]
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The IRS has reminded employers that educational assistance programs can be used to help employees pay off student loans until […]
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The IRS has updated the applicable percentage table used to calculate an individual’s premium tax credit and required contribution percentage […]
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The IRS has urged taxpayers to conduct an end-of-summer tax checkup to avoid unexpected tax bills in the upcoming year. […]
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Hillsborough County residents and non-residents who can verify taxable expenditures with receipts or other documentation will receive compensation equal to […]
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The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
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