by PC Editorial Staff | Mar 21, 2023 | cybersecurity, Federal Labor Law, Identity Theft, IRA, IRS
On March 20th, 2023, the Internal Revenue Service (IRS) opened its annual list of tax scams with a warning about fake Employee Retention Credit (ERC) schemes. The agency’s annual list, named the “Dirty Dozen,” includes 12 common fraudulent tax schemes taxpayers may...
by PC Editorial Staff | Jan 4, 2023 | Federal Contractors, Gig Economy, Independent contractors, IRA, IRS, Jobs
Recently, the Internal Revenue Service (IRS) issued its 2023 standard mileage rate increases for calculating standard mileage deductions. In brief, the notice provides the optional rates for computing the deductible costs of operating an automobile for business,...
by PC Editorial Staff | Aug 9, 2022 | IRA, IRS, Retirement Plans
The Internal Revenue Service (IRS) recently released guidance that provides an extension to make retirement plan changes based on amendments to the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the Bipartisan Miners Act of 2019 (the...
by PC Editorial Staff | Jun 14, 2022 | Federal Contractors, Independent contractors, IRA, IRS
The Internal Revenue Service (IRS) recently announced it is modifying its previous Notice 2022-3, 2022-2 I.R.B. 308, increasing the IRS mileage rate for 2022. The notice provides the optional standard mileage rates for computing the deductible costs of operating an...
by PC Editorial Staff | Nov 9, 2021 | Employee Benefits Administration, IRA, IRS, Retirement Plans
On November 4th, 2021, the Internal Revenue Service (IRS) announced cost-of-living adjustments (COLA) for 2022 benefit and contribution limits. Specifically, employee contribution limits increase for 401(k), 403(b), and most 457 plans. In addition, the federal...
by Editorial Staff | Aug 9, 2021 | American Rescue Plan Act (ARPA), IRA, paid sick leave
Under the American Rescue Plan Act of 2021 (ARP), sick leave tax credits are available to covered employers. On July 29th, 2021, the Internal Revenue Service (IRS) updated its guidance on those available tax credits. Previously, the IRS released information on...
