InterWest Insurance Services

MARCH 7, 2024

If you have staff with health savings accounts, they still have until April 15 to make additional contributions to their accounts if they want to reduce their tax bills for last year. Under IRS rules, for 2023 employers and employees can contribute a combined $3,850 for single employees and $7,750 for families.

401(k) 98

401(k) Health Savings Account Pharmaceutical Deductions 98

BerniePortal

MARCH 5, 2020

*This blog is adapted from the HR Party of One episode, Tips for Employer Taxes, which you can view below. through the Revenue Act of 1862 - which also created the Bureau of Internal Revenue, an IRS predecessor. This form should be filled out on the employee’s first day, and outlines the tax exemptions they are claiming.

Taxes 52

Taxes Employment Deductions Deductible 52

Benefits Notes

JUNE 25, 2020

On Friday, June 19, 2020, the IRS released Notice 2020-50 which provides additional guidance regarding the coronavirus-related distributions (“CRDs”) and coronavirus-related loans and loan repayment delays (“CR Loan Relief”) made available to certain retirement plan participants affected by COVID-19 under the CARES Act.

Retirement Plan 40

Retirement Plan Taxes Employment 40