Payroll Today

Congratulations, you just won! No, you didn’t. It’s the IRS calling. No, it’s not. Your Social Security benefits will stop, unless …. No, they won.

If you took a holiday break last week, payroll was probably the last thing on your mind. We understand. The IRS, however, didn’t take time off last month. Here are a few things you might have missed.

Your tax reform cheat sheet

December 21, 2017

Congress just passed the first major overhaul of the U.S. tax code in more than 30 years. The law, colloquially known as the Tax Cuts and Jobs Act, will have a far-reaching impact on both employers and employees. Here are three things you need to know right now.

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The Senate and the House of Representatives have been in full tax-reform mode since November. You can read about that process here, here and here.

Tax reform is to policy wonks what bright, shiny objects are to toddlers: fun to look at and mesmerizing. But the world doesn’t stop while Congress is debating tax reform. Here are six payroll-related developments you might have missed.

Last week, we dissected the House’s version of H.R. 1—The Tax Cuts and Jobs Act. You can read about that here. The bill has undergone yet more changes and the House is set to vote on it sometime this week.

It’s been a few days since H.R. 1, The Tax Cuts and Jobs Act, made its prime time, House of Representatives debut. You can read our initial impressions here.

The House Committee on Ways and Means has released legislative text for tax reform—H.R. 1, the Tax Cuts and Jobs Act. If enacted, it would substantially change the fringe benefits you offer to employees. The bill retains tax-favored status for employee 401(k) plan contributions, but changes the tax status of other benefits.