The new tax year is swiftly approaching, along with new statutory rates, limits and changes to employment law in England and Wales that HR practitioners should be aware of.
The IRS recently updated its guidance for completing Form 1099-K, used primarily by “gig” companies providing compensation using payment apps or online marketplaces and for individuals selling goods on online marketplaces.
On January 31, 2024, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 24-01 (CL IR 24-01) announcing the applicable 2024 limits for Puerto Rico qualified retirement plans.
On January 1, 2024, Canada entered the last phase of CPP enhancements introduced in 2016 through Bill C-26, An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act.
In Escano v. Innovative Financial Partners, LLC, a magistrate judge held that the defendants’ decision to withhold funds from a payment required under a settlement agreement when the plaintiff refused to provide a Form W-9 did not violate the agreement.
The federal government, states, counties, and cities were active again this year passing workplace legislation intended for the most part to protect employees, creating new compliance obligations for employers.
Three new rules will take effect this year that alter the overtime wages subject to Alabama withholding tax and employers’ requirements in reporting those newly exempt wages.
New Jersey Governor Phil Murphy signed Assembly Bill No. S3128/A4694 into law, which implements an aggressive tax treatment of nonresidents who work for New Jersey employers.
