The IRS updated the forms to reflect the expiration of COVID-19-related relief provisions at the end of 2021. Form 941 retains lines to claim tax credits for qualified leave wages paid in 2022 for leave taken in 2021. Similarly, some employers may be eligible to claim the COBRA premium assistance credit for the first quarter of 2022.
While We Don’t Know All The Changes That We’ll See To Payroll in 2022 - Here Is What We Know So Far! Changes already released this year include: State Unemployment Wage Bases; Social Security Wage Base; Medicare Tax; Dependent Care Limits; Limits To Health Savings Accounts & Health Flexible Spending Accounts; IRA and 401K Contribution Limits; Updated Federal Standard Mileage Rate.
Employers interested in offering wage payments in cryptocurrency should be aware of and comply with applicable withholding, wage and hour, and wage payment requirements at the Federal and State levels. Although employers can not currently pay employee’s base salaries, hourly pay, and overtime pay in the U.S. they may offer bonuses or incentive payments in cryptocurrency. Additionally, employers can use a third-party cryptocurrency payment processing company (e.g., Bitpay) or conversion service r…
With year-end filing wrapping up, many businesses will face corrections to W-2s, 1099s, and 1095s already filed. The Aatrix knowledgebase provides the opportunity to search our articles for some of the most common questions, answers, and troubleshooting methods. Here are step-by-step instructions on filing your corrections.