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Tax Withholding & Reporting Blog Blog

Articles: 1-10 of 18

IRS Plans to Resuscitate Long-Dead Form 1099-NEC

USA - August 15 2019 In the category of “everything old is new again,” the IRS announced in late July that it intends to require that nonemployee compensation (“NEC”)…

IRS Releases Revised Draft 2020 Form W-4

USA - August 9 2019 Reminiscent of Kermit’s lament, “it’s not easy to be green,” it has not been easy to be the Form W-4 since personal exemptions were eliminated by tax…

IRS Releases Updated Tax Withholding Estimator

USA - August 6 2019 Today, the IRS unveiled its new Tax Withholding Estimator to help employees complete the Form W-4 and ensure that withholdings are sufficient to…

IRS Rules 23andMe’s Home DNA Kit Eligible for Partial FSA Reimbursement

USA - July 24 2019 In May, the IRS issued a private letter ruling to an individual taxpayer regarding the deductibility of 23andMe’s at-home DNA test kits under section…

IRS Updates Country-by-Country Reporting Instructions

OECD, USA - July 17 2019 On July 10, the IRS updated the Instructions for Form 8975 and Schedule A (Form 8975). Form 8975 (Country-by-Country Report) is used by taxpayers…

IRS Proposes Regulations under Section 1446(f) — Determining the Withholding Amount (Post 2 of 3)

USA - July 15 2019 In our first post on the proposed regulation under section 1446(f), we discussed which party is the withholding agent and outlined the various…

IRS Proposes Regulations under Section 1446(f) — Which Party is Required to Withhold? (Post 1 of 3)

USA - July 15 2019 This post is the first of three installments providing an overview of recent proposed regulations under section 1446(f) that address withholding on…

IRS Proposes Regulations under Section 1446(f) — Reporting Requirements and the “Backstop Withholding” Rules (Post 3 of 3)

USA - July 15 2019 In our first post regarding the proposed section 1446(f) regulations, we addressed the rules regarding which party is the withholding agent for…

New Rule Permits Employers to Include Truncated TINs on Forms W-2 and Forms W-2c

USA - July 3 2019 Yesterday, the IRS released final regulations that aim to prevent identity theft by permitting, but not requiring, employers to truncate the taxpayer…

D.C. Starts Collecting Taxes to Fund New Paid-Leave Program

USA - July 1 2019 In 2017, the District of Columbia passed the Universal Paid Leave Amendment Act of 2016 (the “Act”), which called for the creation of a paid-leave…