IRS Warns of Phishing Scheme Targeting Payroll Professionals
The IRS has renewed its alert about a phishing scheme targeting payroll professionals that involves fraudulent email messages that appear to be from a company executive requesting personal information on employees. Additional data protection strategies may be found on an IRS webpage.
President Signs Executive Order on the ACA
On January 20, President Trump issued an executive order to "minimize the unwarranted and regulatory burdens of the" Affordable Care Act (ACA). The order directs federal agencies to use their discretion to waive or defer aspects of the ACA that would impose a financial burden on individuals and insurers. The order does not alter employers' reporting requirements.
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IRS Provides Guidance on De Minimis Error Safe Harbor
On January 4, the IRS issued Notice 2017-09, which provides guidance on the de minimis error safe harbor from IRC Secs. 6721 and 6722 penalties. Inadvertent errors on information returns or payee statements do not need to be corrected if the errors are no more than $100 ($25 for withholding errors). However, employees may request that the forms be corrected. If the return or statement is not corrected within 30 days of the request, the safe harbor will not apply.
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Maine Explains Withholding Tax Calculation
Maine Revenue Services (MRS) has received questions from employers regarding the calculation of 2017 Maine income tax withholding. Confusion relating to the calculation has resulted in unnecessary increases in Maine income tax withholding for some employees. MRS explains how to correctly calculate withholding.
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Nebraska Is First State to Introduce Uniform Wage Garnishment Act Legislation
Nebraska is the first state to introduce legislation (L.B. 37) that would adopt the Uniform Wage Garnishment Act. The Act is intended to provide a modern and efficient garnishment process, and APA was involved throughout the drafting process.
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President Franklin Roosevelt signed the Social Security Act into law on August 14, 1935.
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Source: The History of Payroll in the U.S.
