On September 24, 2018, the IRS issued updated guidance in Notice 2018-71 on Internal Revenue Code section 45S, the business tax credit for employers that provide paid family and medical leave.
The PR Treasury has extended the period allowing Puerto Rico residents impacted by Hurricane Maria to make distributions from qualified retirement plans and IRAs at a preferential tax rate.
Spring has sprung in the United Kingdom – a good time for a reminder of the annual statutory rate changes for employers, along with other changes to the taxation of termination payments.
Acknowledging “numerous unanticipated administrative and financial burdens,” the IRS officially revoked its earlier attempt to lower the 2018 health savings account (HSA) contribution limits.
The IRS has issued FAQs to provide guidance to employers relating to portions of the newly enacted Tax Cuts and Jobs Act of 2017 that created the Paid Family and Medical Leave Tax Credit.
On January 18, 2018, the PR Treasury issued Internal Revenue Informative Bulletin No. 18-03 notifying employers that the sworn statement to report Qualified Payments related to Hurricane Maria must be submitted no later than January 31, 2018.
On December 15, 2017, the Puerto Rico Department of the Treasury issued Tax Policy Circular Letter No. 17-02 announcing the 2018 applicable contribution limits for qualified retirement plans.
The first significant piece of legislation to make it to President Trump's desk, the Tax Cuts and Jobs Act (H.R. 1), contains some provisions impacting employers.
