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Is relocation reimbursement taxable? How to assess tax liability for employee relocation

Business Management Daily

Expenses that could previously be deducted on an employee’s tax return may no longer qualify, and relocation benefits that previously could be paid out without counting towards a taxpayer’s income may now result in higher tax liabilities. Previously, individuals could deduct qualified moving expenses from their personal income taxes.

Taxes 98
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2022 mini-budget summary – how will the changes impact payroll professionals?

cipHR

The announcements made in the mini-budget had a significant impact on payroll calculations, in an already unusual year. We have a further mid-year change to national insurance (NI) with impact for employers, employees, payroll suppliers and HR and payroll teams. Income tax changes. IR35 reforms changes.

Payroll 52
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Jayne Flint: What does the continuation of the off payroll working rules mean for businesses?

Employee Benefits

The government announced in the recent mini Budget that it intended to scrap the off payroll working rules from 6 April 2023. The off payroll working rules, often referred to as IR35, were changed for the public sector in 2017, when liability for determining the tax position fell to the entity engaging the consultant.

Payroll 52
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Updates to the Income Tax Withholding Tables and What You Need to Know

Patriot Software

Like past years, the IRS released changes to the income tax withholding tables for 2020. In addition to new wage brackets, there are significant changes to how employers will handle tax withholding. These changes are in response to the Tax Cuts and Jobs Act of 2017. When you have employees, you need to stay on […].

Taxes 95
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Confused about IR35 and off-payroll working? CIPHR’s new guide is here to help

cipHR

Discover why regulations will change in April 2020, how to prepare your processes, and how CIPHR can help you manage off-payroll working. From 6 April 2020, off-payroll working rules that came into force in the public sector in March 2017 will also apply to the private sector. How the changes will impact HR and payroll teams.

Payroll 45
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HR technology trends for 2017: Curing government compliance concerns

Insperity

If you’ve still got someone entering timesheet data by hand, 2017 is the year to automate your HR processes. Once upon a time, businesses with 50-150 employees could manage benefits and payroll through a series of non-automated, disjointed programs. Integration, convenience and mobility are key. Self-service still pays.

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8 tips for completing your first-quarter 941

Business Management Daily

Make sure you check the same quarter box on Schedule B , the Report of Tax Liability for Semiweekly Schedule Depositors. Schedule B hasn’t been reissued since 2017, so the red circle and slash won’t appear. Keep track of any remaining tax credits for paid leave. Check the box for the same quarter on Schedule B.