ThomsonReuters

FEBRUARY 7, 2022

It is crucial that payroll professionals familiarize themselves with minimum wage rates for garnishment calculations in 2022. . For further information on creditor garnishment, visit the Quick Reference Chart on Checkpoint Edge at Payroll Guide ¶17,080 (Highlights of state rules for creditor garnishment). . per hour; $4.65

Rhode Island 92

Rhode Island South Dakota Connecticut Agriculture 92

ThomsonReuters

JUNE 10, 2021

Summertime Tax Tips. Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. Biden Administration issues tax proposals “Green Book.” Also, 12 U.S. Department of Labor enforcement.

payroll 98

payroll Vermont Tax Connecticut 98

ThomsonReuters

JULY 13, 2021

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Beginning in tax year 2020, the IRS issued a new Form 1099-NEC for business taxpayers who receive nonemployee. Federal News.

payroll 98

payroll income tax Vermont tax return 98

ThomsonReuters

JUNE 21, 2021

Repaying Deferred Social Security Taxes . In addition, a Presidential Memorandum signed on August 8, 2020, allowed employers to defer the employee’s share of Social Security tax from September 1, 2020 through the end of tax year 2020. . credit for employer FICA tax paid with respect to employee cash tips.

payroll 52

payroll Tax Missouri Massachusetts 52

ThomsonReuters

JUNE 28, 2021

Although it is possible to automate payroll systems to account for these minimum wage increases, it is a good idea for payroll professionals to be aware of these changes to avoid the possibility of underpaying employees. Now let’s go over some federal and state payroll stories from the past week. This includes withholding taxes.

payroll 52

payroll income tax California North Dakota 52

ThomsonReuters

JANUARY 24, 2022

Impact on employer’s account: Claims related to refusal of an employer’s vaccine mandate will impact employer contributions to the trust fund and experience ratings when determining yearly tax rates. . The Utah Workforce Services did not respond to our request.

Rhode Island 119

Rhode Island West Virginia South Dakota Maryland 119

ThomsonReuters

APRIL 26, 2022

The Act established an Energy Transition Economic Development Assistance Fund that helps employers to qualify for tax relief for hiring displaced workers. Vermont Climate Council. Initial Vermont Climate Action Plan. Checkpoint Edge will continue to report on the latest payroll developments as legislation progresses. .

payroll 95

payroll Vermont Rhode Island Hawaii 95

ThomsonReuters

MAY 3, 2021

Funding for the American Families Plan, including paid leave, would be offset by tax increases on Americans making over $400,000 per year and the elimination of lower tax rates on capital gains and dividends. . The program also calls for three days of paid bereavement leave per year beginning with the first year of the program. .

Rhode Island 52

Rhode Island Hawaii Oregon Connecticut 52

PYMNTS

NOVEMBER 18, 2020

Taxes: Biden has also proposed rolling back some of the corporate tax cuts that had been a hallmark of the Trump administration, restoring the tax rate to 28 percent from the current 21 percent, and where the rate had been 35 percent before Trump’s own tax cuts in 2017. Banking, Too: Earlier in the year, Biden and U.S.

Vermont 69

Vermont Georgia payroll tax Manufacturing 69