ThomsonReuters

JANUARY 30, 2023

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. Currently, the state indexes its minimum wage annually for inflation. per hour to $11.39.

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payroll Hawaii West Virginia Oklahoma 105

Withum

OCTOBER 3, 2024

The IRS is also providing penalty relief to businesses that make payroll and excise tax deposits. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team. Are you interested in making qualified disaster relief payments to your employees?

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ThomsonReuters

JANUARY 22, 2024

Flexible Income Lookback : Taxpayers can choose to use either current or prior-year income to calculate the child tax credit in 2024 and 2025, providing flexibility in determining eligibility. Inflation Adjustment : Starting in 2024, the child tax credit will be adjusted for inflation to keep up with the rising cost of living.

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Withum

OCTOBER 11, 2023

Planning and advocating Congressional leaders for IRC §174 immediate expensing should continue to be a top priority for all businesses conducting R&E. Even more of the TCJA provisions expire in 2026, including the elimination of the pass-through (199A) deduction and an increase in the top individual income tax rates to 39.6%.

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ThomsonReuters

JUNE 10, 2021

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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KROST

NOVEMBER 24, 2020

Eligible taxpayers with an average of $50 million or less in gross receipts over the previous three years may claim the federal R&D tax credit against their alternative minimum tax liability. Pass-through entities may want to consider recognizing gains in 2020 that may have otherwise been recognized in early 2021. California.

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