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Last Week in Payroll: Summertime Tax Tips

ThomsonReuters

Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. toward health or other benefits including paid leave starting in 2026. For the latest in tax, accounting, and payroll news, visit tax.tr.com/blog. per hour starting in 2022, $14.25 in 2023, $15.00 in 2024, $16.00

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SECURE Act 2.0 Provisions Coming in 2024 and Beyond – What Plan Sponsors Can Do Now

Anders CPA

Emergency Savings Accounts   Plan sponsors have been granted permission to add an emergency savings account to their retirement plan, which must be designated as an after-tax account. Key Takeaways: Many changes enacted by SECURE Act 2.0 SECURE Act 2.0 SECURE Act 2.0

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Additional IRS Guidance Surrounding 174 R&E Capitalization Requirements

Withum

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.