IRS Highlights New Business Tax Account Features, FS-2024-27
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS stated that, for 2022, general guidelines for electronic substitutes to paper Forms W-4 can be found in the 2022 Publication 15-A, Employer’s Supplemental Tax Guide. Additional information concerning electronic substitutes to paper Forms W-4 can be found in the 2022 Publication 15-T, Federal Income Tax Withholding Methods. Publication 15-A and Publication 15-T specified new guidelines for 2022 concerning what an electronic Form W-4 system must provide to an employee.
Employers are not required to set up a system to electronically receive Form W-4 from an employee. For example, if such a requirement is first published in IRS forms, publications, or other guidance, such as Publication 15-T, on December 1, 2022, a reasonable amount of time to implement the requirement would not normally extend beyond February of 2023. While the 2022 Publications 15-A and 15-T provide guidance concerning electronic substitutes to paper Form W-4, they do not address a substitute paper form. Finally, employers are prohibited from accepting a substitute form developed by an employee. An employee furnishing such form must be treated as failing to furnish a withholding allowance certificate.
The IRS announced that it is continuing to expand the features within Business Tax Account (BTA), an online self-service tool […]
Read MoreThe IRS has issued a series of questions and answers for 401(k) and similar retirement plans that provide, or wish […]
Read MoreThe IRS Whistleblower Office has recognized the contributions of whistleblowers on the occasion of National Whistleblower Appreciation Day, which falls on July […]
Read MoreThe floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
Read MoreThe IRS has updated frequently asked questions (FAQs) to provide guidance related to the critical mineral and battery component requirements […]
Read MoreThe IRS has issued a reminder that summer day camp expenses may be eligible for the Child and Dependent Care tax […]
Read MoreThe IRS has warned taxpayers not to fall for scams centered around the Fuel Tax Credit, the Sick and Family […]
Read MoreThe IRS has issued a cautionary alert to taxpayers about a new scam exploiting clean energy tax credits. This emerging […]
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