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 | Dec 20, 2022 | DOL, IRS, Misclassification, Wage & Hour, WHD
Recently, the U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS) renewed a memorandum of understanding (MOU) combining agency resources and efforts to prevent employee misclassification. In brief, the bi-agency effort adds a streamlined process for...
by PC Editorial Staff | Dec 13, 2022 | DOL, EBSA, Employee benefit plans, IRS, Retirement Plans
On December 8th, 2022, the U.S. Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) released informational copies of the 2022 Form 5500 Series Annual Return/Report. The release includes informational copies of Form 5500-SF short-form...
by PC Editorial Staff | Dec 6, 2022 | cybersecurity, Identity Theft, IRS
During National Tax Security Awareness Week, the Internal Revenue Service (IRS) and the agency’s Security Summit partners offered five ways businesses can protect against cyberattacks during tax season. The IRS warned businesses to be wary of identity theft, phishing...
by Editorial Staff | Oct 26, 2022 | Affordable Care Act, Employee benefit plans, IRS
During the past week, the Internal Revenue Service (IRS) issued information on tax inflation adjustments for tax year 2023. The agency also released updated information on 401(k) and IRA contribution limit amounts for the same tax year. Basically, the dollar amounts...
by PC Editorial Staff | Aug 16, 2022 | ACA, Employee benefit plans, IRS, Obamacare
The Internal Revenue Service (IRS) announced its 2023 indexing adjustments used with the Affordable Care Act (ACA) when calculating ACA affordability for employer shared responsibility purposes. ACA affordability refers to the highest percentage of household income...
