IRS Releases Updates on Long|Term Part|Time Employees

Know Your Rights: Delayed Refunds | LITC Support Center

These tax returns will be reviewed by an IRS employee; in this case, your tax return could be sitting in a queue for a while. Ultimately, if the wages or ...

Long-term, part-time employee guidance for 403(b) plans released ...

On October 3, 2024, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released Notice 2024-73.

12 Key Elements in the IRS SECURE 2.0 'Grab Bag' Notice - ASPPA

On December 20, the IRS released the long-awaited SECURE 2.0 ... long-term part-time employees. There was, however, a lot of other ...

IRS announces moratorium on processing new claims for employee ...

On September 14, 2023, the IRS announced (IR-2023-169) in a news release (News Release) that it was immediately pausing processing of new claims ...

IRS Employees: 'We are Not Going Back'

Employees represented by NTEU say the reduced backlogs – an achievement due in large part to the funds provided by the IRA – have allowed them ...

Direct Deposit (Electronic Funds Transfer) - Tax Refund

Simply provide your banking information to the IRS at the time you are submitting your taxes. What are the benefits of selecting Direct ...

IRS issues new 401(k) rules for long-term, part-time workers

The Internal Revenue Service has released proposed rules for 401(k) eligibility of long-term, part-time employees under legislation passed ...

IRS shares more warning signs of incorrect claims for the Employee ...

Five newly announced signs of an incorrect ERC claim · more than 100 full-time employees in 2019 and claimed ERC for 2020 tax periods, and/or ...

Justice Department Reminds Employers of Their Employment Tax ...

... Internal Revenue Service (IRS) taxes withheld from their employees ... part of the nation's tax system,” said IRS Commissioner John Koskinen.

ESOPs Encouraged but Do It Right! SECURE 2.0 ESOP Provisions ...

... long-term part-time employee rules. This alert discusses employee ... IRS news release announcing an expanded focus on ESOP compliance.

IRS and Department of Labor Release New Retirement Plan Guidance

Home » News » LEGALcurrents® » IRS and Department of Labor Release ... Special vesting service rules for long-term part-time employees who ...

Long-Term Part-Time Workers: More Questions than Answers for ...

It should be noted that once an LTPT employee enters the plan, the employee continues to be eligible if his or her hours drop below 500 in ...

The Long Wait is Over for Long-Term, Part-Time Employee Guidance

On November 27, 2023, the U.S. Internal Revenue Service (IRS) released long-anticipated proposed regulations regarding eligibility ...

IRS Releases Additional Guidance on the Employee Retention ...

The Notice points out that, beginning with the wages paid in June 2021, the taxes to be offset switch from the employer share of FICA (and the ...

Coming to a Retirement Plan Near You in 2024—Long-Term, Part ...

Beginning January 1, 2024, employers will be required to allow Long-term, part-time (LTPT) employees to make deferral contributions to qualified retirement ...

IRS Notice 2024-2 provides guidance for multiple SECURE 2.0 ...

Updated Guidance: The Notice clarifies that the safe harbor correction method under EPCRS is available for both active and terminated employees ...

IRS's Efforts to Modernize 60-year-old Tax Processing System Is ...

IRS relies extensively on information technology (IT) to process tax returns, collect taxes, distribute tax refunds, and carry out many ...

IRS Issues Guidance on Presidential Directive to Extend ...

The Notice generally states that social security tax or railroad retirement tax withheld by employers from employee wages paid during the period ...

IRS guidance on SECURE 2.0 provisions - WTW

The IRS recently released Notice 2024-2, the long-awaited “grab bag ... IRS proposes long-term, part-time employee rules for 401(k) plans.

US Department of Labor issues guidance on new emergency ...

Participating employees can easily withdraw funds saved in their PLESA without the penalties of drawing from retirement savings. Employers may ...