Advice

The deductibility of costs incurred for company events, such as a Christmas party, is covered under tax code Sections 274(e)(1) and (e)(4), which the Tax Cuts and Jobs Act didn’t touch.
Verification of employment requests are not difficult to process, but you do need a formal system for responding to them.
Some employers will soon be able to avoid the hefty penalties and double damages that usually result when the government discovers violations of the Fair Labor Standards Act.

The IRS is a prodigious publisher. Here are digests of documents sent between IRS offices.

Before spring fever sets in for real, why not clean up your payroll records? Careful: Be judicious in your culling; the IRS requires you to keep payroll records for at least four years after employees’ 1040s are due.

As if being liable for retaliating against an employee for filing discrimination charges wasn’t bad enough, a federal appeals court has ruled that an employer must also compensate the discriminated-against employee for the extra taxes that are due on a lump-sum back pay award by grossing it up.

The short-term government spending bill, signed Feb. 9, picks up some 401(k) provisions that were stripped from the Tax Cuts and Jobs Act, and provides more disaster relief to the victims of the California wildfires.

DOL issues penalties for 2018

February 20, 2018

The Department of Labor has announced the 2018 inflation adjustments to penalties for violations of the Fair Labor Standards Act, the FMLA and ERISA.

Of course you want the latest business tools for your department—things like new computers or payroll software. But other departments want new things, too, and there’s only so much money to go around. The best way to bolster your chances of getting what you want is by preparing cost projections and knowing the proper lingo as you make your case.

News you can use from SB/SE

February 20, 2018

The IRS’ Small Business/Self Employed Division enforces the withholding rules for all businesses, regardless of size. So the advice flowing to and from SB/SE employees is especially meaningful. Here are digests of some recently released guidance documents.