IRS defers reporting of employer-provided health insurance costs on Form W-2
Employers are eligible for a one-year deferral of mandatory reporting of the costs of employer-provided health insurance on an employee's Form W-2, Wage and Tax Statement. According to the IRS, man...
IRS gives relief to taxpayers plagued by problem drywall
Taxpayers may be able to treat damages from corrosive drywall as a casualty loss, the IRS has announced. The IRS also provided a safe harbor formula to calculate the amount of the loss.
New disclosure rules give 401(k)-type plan participants more information about fees and investments
Individuals with funds in 401(k)-type retirement savings plans will receive more information about plan expenses and investments under new federal rules. The U.S. Department of Labor's Employee Ben...
Simplified “high-low” per diem rates decline for FY 2011
The simplified per diem rates, which employers may use to reimburse employees for lodging, meals and incidental expenses incurred during business travel, have fallen for fiscal year (FY) 2011, the ...
Social Security wage base remains unchanged for 2011
The maximum amount of earnings subject to Social Security will be unchanged in 2011, the Social Security Administration (SSA) has announced. The wage base, above which wages are not subject to Soci...
AZ - Subtractions not applicable to certain uniformed service members
The Arizona personal income tax subtraction from income for compensation received for active service as a member of the Armed Forces of the United States does not apply to Arizona residents who are ac...
CA - Relief extended to those affected by storms and flooding in Imperial County
The California State Board of Equalization (BOE) has announced that, for purposes of the taxes the agency administers, extensions for filing, audits, billing notices, assessments, and relief from subs...
ID - W-2 electronic reporting manual released
The Idaho State Tax Commission has updated its publication outlining the requirements and procedures for electronically filing the personal income tax withholding W-2 forms with the commission.
OR - Severance pay temporary rule adopted
The Oregon Department of Revenue (DOR) has adopted a temporary rule to explain the personal income tax severance pay deduction enacted by 2010 legislation. The legislation provides a subtraction from ...
WA - More businesses now required to file on monthly basis
A Washington Department of Revenue notice explains that more businesses will now be required to file excise tax returns on a monthly basis. Specifically, businesses with an annual excise tax liabil...
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