On November 1, 2018, the Internal Revenue Service (IRS) announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for the 2019 tax year.
On October 22, 2018, the Puerto Rico Department of the Treasury issued Publication 18-03, which makes tax reporting and tax deadline changes for certain severance payments.
Those who find their livelihoods threatened by disruptive technologies have long rallied against those new innovations, finding an ally in governments willing to slow adoption.
On September 24, 2018, the IRS issued updated guidance in Notice 2018-71 on Internal Revenue Code section 45S, the business tax credit for employers that provide paid family and medical leave.
The PR Treasury has extended the period allowing Puerto Rico residents impacted by Hurricane Maria to make distributions from qualified retirement plans and IRAs at a preferential tax rate.
Spring has sprung in the United Kingdom – a good time for a reminder of the annual statutory rate changes for employers, along with other changes to the taxation of termination payments.
Acknowledging “numerous unanticipated administrative and financial burdens,” the IRS officially revoked its earlier attempt to lower the 2018 health savings account (HSA) contribution limits.
The IRS has issued FAQs to provide guidance to employers relating to portions of the newly enacted Tax Cuts and Jobs Act of 2017 that created the Paid Family and Medical Leave Tax Credit.
On January 18, 2018, the PR Treasury issued Internal Revenue Informative Bulletin No. 18-03 notifying employers that the sworn statement to report Qualified Payments related to Hurricane Maria must be submitted no later than January 31, 2018.
