05/16/2011
The health care reform law requires you to report the value of employees’ health benefits on their W-2 forms. The IRS waived mandatory reporting for 2011, pending future guidance. Now the guidance has been released. It requires employers filing 250 or more W-2s to report beginning with 2012 W-2s that are filed in 2013.
05/13/2011
Here’s something you may not have considered when agreeing to settle a nuisance case for a few thousand dollars. Most of the time, you will need to withhold federal and other taxes. Because of a relatively recent change at the IRS, unless payment is for a physical injury, the proceeds are fully taxable.