Unemployment Flash Report – January 2015

January Flash Report

The January edition of the “Equifax Unemployment Flash Report” – a biweekly newsletter providing regular updates on Unemployment insurance related matters – is ready for download.  Get the latest insights on key UI topics including: State FUTA Credit Reductions New Developments for specific states 2015 Wage Base and UI Minimum and Maximum rates We hope [Read More…]

Unemployment Flash Report – December 2014 (Part 2)

Dcember Flash Report

The December edition of the “Equifax Unemployment Flash Report” – a biweekly newsletter providing regular updates on Unemployment insurance related matters – is ready for download.  Get the latest insights on key UI topics including: New Developments for specific states We hope you enjoy this publication. Please reply to taxalerts@equifax.com with any questions, comments or [Read More…]

Unemployment Flash Report – December 2014 (Part 1)

December Flash Report

The December edition of the “Equifax Unemployment Flash Report” – a biweekly newsletter providing regular updates on Unemployment insurance related matters – is ready for download.  Get the latest insights on key UI topics including: State FUTA Credit Reductions New Developments for specific states 2015 Wage Base and UI Minimum and Maximum rates We hope [Read More…]

WOTC Extension: Form 8850 Filing Deadline Extended

WOTC hiatus: call to action

Noting that the uncertainty around the Work Opportunity Tax Credit and its prolonged hiatus in 2014 affected employers’ hiring and tax planning strategies, the IRS has issued notice 2015-13 that provides “transition relief” for employers to submit WOTC certification requests for any employee hired between January 1, 2014 and December 31, 2014. The deadline for [Read More…]

Tax Intelligence: Out-of-State Wage Credits

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Situation When an employee is permanently transferred or relocated from one state to another within the same legal entity, the state to which wages are reported for state unemployment insurance (“SUI”) tax purposes typically changes.  To avoid a duplication of SUI tax on wages paid to a single employee, most states (other than Louisiana, Minnesota, [Read More…]

IRS Releases Final 1094-C and 1095-C Forms and Instructions

ACA Compliance

On February 9, 2015, the Internal Revenue Service (IRS) released the final Forms 1094-C and 1095-C that are required to comply with section 6055 and 6056 of the Affordable Care Act (ACA). Employers that are subject to the employer shared responsibility provisions under section 4980H, generally Applicable Large Employer (ALE) Members (those with 100 or [Read More…]

Upcoming Webcast: Out-of-State SUI Wage Credits

webcast

Date:  Tuesday, February 24, 2015 Time:  11:00 AM ET, 10:00 AM CT, 9:00 AM MT, 8:00 AM PT Click here to register With today’s mobile workforce, it has become increasingly common for employers to transfer or relocate employees from one taxing jurisdiction to another.  The number of employers allowing employees to telecommute has also increased [Read More…]

Tax Intelligence: Federal Credit Extensions

Federal Tax Extensions

Situation The Tax Increase Prevention Act of 2014 was officially signed by President Obama on December 19, 2014, extending the Work Opportunity Tax Credit (WOTC) through December 31, 2014.  In this same legislation, two other lucrative federal tax credit programs also received the one-year extension.  The Federal Empowerment Zone Employment Credit and the Indian Employment [Read More…]

Tax Intelligence: Understanding SUI Tax Rate Notices

SUI tax rates

Situation As of the issuance of this Tax Intelligence, only five (5) states have yet to issue calendar year 2015 state unemployment insurance (“SUI”) tax rate notices: HI, MA, MS, NY, and PR. With 53 separate jurisdictions issuing SUI tax rate notices, understanding each can be complex. To complicate matters, as organic growth and merger [Read More…]

WOTC: Processing 2014 Certification Requests

Washington Monument

In light of the retroactive renewal of WOTC as part of the Tax Increase Prevention Act of 2014, the Department of Labor has issued internal guidance to the State Workforce Agencies on processing of 2014 certification requests.  The guidance instructs the Workforce Agencies to begin making determinations for all certification requests for hire dates in [Read More…]