Payroll Today

It’s no secret that the Trump administration and the Republican-controlled Congress want to consign the Affordable Care Act to the scrap heap. There’s been an awful lot of talk about which approach they favor: (1) repeal, (2) repeal and replace, (3) repeal and repair or (4) just repair. Now we know—at least in first draft form. Thanks to Politico, which snagged a copy of a “discussion draft” we can begin to see where health care reform may be headed …

An article appeared in the business section of my weekly newspaper this past Sunday, which discussed the possibility of tax reform and how it might impact employees. There were some giant inaccuracies that were like finger nails on a blackboard. So let’s dissect them …

With their W-2s in hand, really conscientious employees have already made a dent in their 2016 taxes. Others will start soon. Employees may naturally turn to you with tax refund questions (after all, you don’t charge for answers, like their accountants do). These early filers may be anxious to get details about their tax refunds. Misunderstandings and speculation about refunds proliferate on social media and the web. Let’s do some tax refund myth busting …

Last week, President Trump nominated federal Judge Neil Gorsuch to fill the seat of the late Justice Antonin Scalia on the U.S. Supreme Court. Gorsuch currently sits on the 10th Circuit Court of Appeals, which encompasses Colorado, Kansas, New Mexico, Oklahoma, Utah and Wyoming. It doesn’t appear that Gorsuch has ruled on any recent payroll tax cases. Too bad for us. But he has tackled some other interesting tax issues. Let’s take a look …

The IRS, state tax agencies and the tax prep industry have renewed warnings about an email scam that began last tax season. The scam uses a real corporate officer’s name to request employees’ W-2s from a company’s Payroll or HR department.

We know you’re struggling with your W-2s, which are due to employees and the Social Security Administration in a scant week. So, today we’re offering a little distraction—payroll and tax humor.

In the hustle and bustle of preparing your paper and electronic W-2s for the Social Security Administration and for delivery to employees, it’s easy to let state filing deadlines slip through the cracks. Here’s the most recent news on state W-2 filing deadlines …

Nope, we’re not referring to the looming consolidated, accelerated W-2/1099-MISC filing deadline of Jan. 31, 2017, although that’s bad enough. While you were making merry last month, the Congressional Budget Office was busy pinpointing areas of the Internal Revenue Code that could be squeezed to close the budget gap.

Some, but not all of your Forms 1099-MISC, must be provided to payees and filed with the IRS by Jan. 31, 2017—28 days from now. Your goal: to file all of your 1099-MISC forms accurately the first time. Here are some last minute tips you might find useful.

Congress has passed and President Obama is expected to sign the 21st Century Cures Act, which exempts health reimbursement accounts (HRAs) set up by small employers—those with fewer than 50 full-time employees—from the Affordable Care Act’s market reform provisions.