A bit more of a change up for the new year. Several of my followers have noted that having one blog for news updates per month would be easier rather than breaking it up by week. To further refine my new blogs I will do one for each month, in this case January, and update daily as my news letters go out. I hope you find this helpful.
January 25, 2022: IRS: The IRS has issued guidance for employers regarding the retroactive termination of the Employee Retention Credit. Notice 2021-65 applies to employers that paid wages after September 30, 2021 and received an advance payment of the Employee Retention Credit for those wages or reduced employment tax deposits in anticipation of the credit for the fourth quarter of 2021 but are now ineligible for the credit due to the change in the law.
January 14, 2022: Virginia: The Department of Taxation has revised the Income Tax Withholding Guide for Employers with a January 2022 revision date. The Guide was last revised November 2021. There are no substantive changes. The tax tables are not changed.
January 6, 2022: On the payroll industry phone call this morning the IRS stated to my question that it has still not issued guidance on the electronic filing threshold for Forms W-2 for 2021 W-s filed by 1-31-22. It could be 100 or more or still 250 or more.
January 4, 2022: Form W-4 has been finalized for 2022. It is available on the IRS website.
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