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Resolving Erroneous Payroll Tax and Information Return Reporting Penalties with the IRS

USA - December 15 2021 Some taxpayers are receiving automatically generated IRS notices of underpayments and penalties with respect to Form W-2 income tax and FICA…

Mary B. Hevener, Steven P. Johnson, Anna M. Pomykala, Jonathan Zimmerman

Employers: Deadline for Repayment of CARES Act Social Security Tax Deferrals Fast Approaching

USA - November 30 2021 Thousands of US employers took advantage of the program under the CARES Act to defer the deposit and payment of the employer's share of Social…

Mary B. Hevener, Steven P. Johnson, Anna M. Pomykala

New York Joins Growing Number of States Enacting Auto-IRA Laws

USA - November 29 2021 New York Governor Kathy Hochul enacted an auto-IRA law, effective October 21, which requires certain New York employers to either offer their…

Craig A. Bitman, Anna M. Pomykala

IRS FAQs: A Potential Shield for Taxpayers—Not a Sword for the Service

USA - October 20 2021 The IRS recently issued guidance on the utility of and weight to be afforded informal “Frequently Asked Questions” (FAQs) published on its…

Sean D. Callaghan, Mary B. Hevener, Steven P. Johnson, Michelle M. McCarthy, Jonathan Zimmerman

Relaxed IRS Self-Correction Rules a Boon for Plan Sponsors—and an Opportunity to Correct Failures Now

USA - July 28 2021 On July 16, 2021, the Internal Revenue Service (IRS) released Revenue Procedure 2021-30, which made several important changes to the Employee Plans…

Michelle M. McCarthy, Claire P. Rowland