A Deep Dive into ACA IRS Reporting with Intuit and Equifax

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A Deep Dive into ACA IRS Reporting with Intuit and Equifax Form 1095 for the Affordable Care Act is often called the “W-2 of benefits”. However, the stakes are much higher when it comes to reporting under ACA because this information will determine the penalties that you and your employees could face for failing to [Read More…]

ETS Tax Intelligence: Worker Misclassification

worker misclassification

Background The courts and other governmental authorities [including the Internal Revenue Service (“IRS”), the U.S. Department of Labor (“DOL”), and state workforce agencies (“SWAs”)] have addressed the issue of worker misclassification for decades.  These government authorities believe that when a worker is considered an employee, and not an independent contractor (“IC”), workforce compliance and the [Read More…]

TCI Tax Intelligence: WOTC Transition Relief

WOTC transition relief

Situation The Work Opportunity Tax Credit (WOTC) program had been in hiatus since Jan 1, 2014.  On December 19, 2014, legislation was enacted to extend the WOTC program through December 31, 2014. While many employers may have continued to screen applicants and submit 8850s for certification during that time period, some employers either did not [Read More…]

Decoding ACA: IRS Reporting and Subsidy Management

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Decoding ACA: IRS Reporting and Subsidy Management Webinar: Tuesday | April 21 | 2:00 PM EDT IRS reporting forms 1094 and 1095 for the Affordable Care Act (ACA) have been finalized and coding the forms can be especially complex when taking into consideration new concepts such as limited non-assessment periods, affordability safe harbors, and varying [Read More…]

Webcast Summary: Out-Of-State Wage Credits

Webcast replay

Overview Prior to beginning a discussion on out-of-state wage credits, it is necessary to understand the concept of state unemployment insurance (“SUI”) sourcing.  Employers and state workforce agencies are required to use what is known as the “four-factor test” to determine the state to which an employee’s wages are to be reported when employees work [Read More…]

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…]