The Kentucky Department of Revenue has launched a new online personal income tax withholding return and payment system (WRAPS). Employers can use WRAPS to file returns (annual, quarterly, monthly, and twice-monthly returns), view and amend previously filed online returns, request refunds, and pay withholding tax using the enterprise electronic payment system.
The IRS has released Notice 2015-06 which describes the rules for filing Form 8922, Third-Party Sick Pay Recap. This is an annual form that must be filed with the IRS which replaces the third-party sick pay recaps that were filed with the Social Security Administration. Form 8922 is used to report total amounts of certain sick pay paid to employees by a third party.
The California Department of Industrial Relations has released the information to its website on the new paid sick leave law that takes effect on July 1, 2015. This includes the poster that must be displayed.
The Wisconsin Department of Revenue has posted an article on its website detailing how to handle 2014 transportation fringe benefits.
Officials from the U.S. Department of Labor and the Florida Department of Revenue today signed a memorandum of understanding with the goal of protecting the rights of employees by preventing their misclassification as independent contractors or other nonemployee statuses. Under the agreement, both agencies will share information and coordinate law enforcement. The MOU represents a new effort on the part of the agencies to work together to protect the rights of employees and level the playing field for responsible employers by reducing the practice of misclassification. The Florida Department of Revenue is the latest state agency to partner with the Labor Department.
Memoranda of understanding with state government agencies arose as part of the DOL’s Misclassification Initiative, with the goal of preventing, detecting and remedying employee misclassification. Alabama, California, Colorado, Connecticut, Hawaii, Illinois, Iowa, Louisiana, Maryland, Massachusetts, Minnesota, Missouri, Montana, New York, Utah and Washington state agencies have signed similar agreements.
The New Hampshire’s governor’s office announced on January 6th that a “fund balance reduction” of 1.0% will be in effect for the first quarter of 2015. This results in most positive-balanced and new employers will see another 0.5% reduction in their SUI tax rates beginning in January, 2015. A previous fund balance reduction of 0.5% already went into effect in the fourth quarter of last year. Coupled with this latest reduction employers should pay a SUI rate that is 1.0% less than what was reflected on their fiscal year 2015 tax rate notice they received in September, 2014.
The SUI wage base for Washington state has increased for 2015. It will now be $42,100. This is up from $41,300 in 2014. The SUI rates remain unchanged.
Nebraska has released their 2015 income tax withholding tables and there are no changes despite legislative changes occurring in 2014. A new Circular EN will not be issued for 2015.
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Missouri has released the 2015 withholding tax tables. The annual withholding formula is unchanged from 2014. The supplemental withholding rate remains 6%.