4 out of 5 Industries Saw Wage Decline in Q2 of 2018
The HR Daily Advisor recently sat down with PayScale’s Chief Economist, Katie Bardaro to discuss their recent findings that Q2 of 2018 saw wage decline.
Tag: tax
Affected Parties Suggest Reasons, Methods for Expanding IRS Determination Letter Program
Retirement plan trade organizations and advocates, law firms, and other affected parties proposed to the Internal Revenue Service (IRS) an expanded range of circumstances they believe merit review and determination letter judgment by the tax agency.
4 Challenging Payroll Quirks and Questions for Employers
Usually payroll moves along smoothly. You record time worked and pay the hourly wage or overtime. Still, every once in a while, a situation crops up that makes you shake your head and start frantically thumbing through your policy manual for an answer. Here are a few common issues.
IRS Reduces Fee to Seek Determination Letters for Plan Termination
The Internal Revenue Service (IRS) is lowering back to 2017’s level the fee it charges for applications seeking determination letters for terminating retirement plans, the agency announced on March 14.
IRS Adjusts HSA Contribution Limit, Other Thresholds for 2018
The family contribution limit for a health savings account (HSA) for 2018 was reduced from $6,900 to $6,850 by the Internal Revenue Service (IRS), along with adjustments made to other IRS thresholds to reflect the recent tax legislation.
Fringe Benefits Affected by the TCJA: Meals, Achievement Awards, and Other Expenses
The enactment of the Tax Cuts and Jobs Act (TCJA) on December 22, 2017, brought the most sweeping overhaul of the Internal Revenue Code (IRC) since 1986. Most of the changes took effect January 1, 2018. In part one of this article, we discussed the TCJA’s impact on employer provided fringe benefits, in regard to […]
Fringe Benefits Affected by the TCJA: Moving and Transportation Expenses
The enactment of the Tax Cuts and Jobs Act (TCJA) on December 22, 2017, brought the most sweeping overhaul of the Internal Revenue Code (IRC) since 1986. Most of the changes took effect January 1, 2018. This article discusses the TCJA’s impact on employer provided fringe benefits and our insights, based on conversations with employers […]
Tax-Reform Changes Lead Some Employers to Raise 401(K) Matches
A handful of large U.S. corporations announced they are raising the employer match for their 401(k) retirement plans or are making other changes in their benefit plans in the first month after a tax reform law was signed by President Trump. And nearly half of companies surveyed said they are considering taking such an action […]
Tax Law Fueling Changes to Employer Benefits and Compensation Programs
The new tax reform law is fueling changes to corporate America’s employee benefits, compensation, total rewards, and executive pay programs, according to a survey by Willis Towers Watson, a global advisory, broking, and solutions company. The survey of 333 large and midsize employers reveals nearly half (49%) of the respondents are considering making a change […]
2018 Withholding Tax Table Is Now Available
The Internal Revenue Service (IRS) has released Notice 1036, updating the income-tax withholding tables for 2018. The new tables reflect changes made by the tax reform legislation enacted last month. The updated withholding information shows the new rates for employers to use during 2018.