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An update to the IRS’s fiscal 2018 priority plan included payroll topics that need additional guidance under the tax code overhaul, but many of the projects would likely be pushed into the fiscal 2019 list of projects, the Treasury Department said.
The third-quarter update, released May 9, included issues such as the tax credit for employers offering family and medical leave, employer-provided meals, and an extension of filing dates under the Affordable Care Act. Additional guidance was expected for the 2019 Form W-4, Employee Withholding Allowance Certificate, a draft of which was released June 6. A draft of instructions was released June 7.
The quarterly update to the fiscal 2018 plan “reflects 13 additional projects as well as guidance we published (or released) during the period from October 13, 2017, through March 31, 2018,” the Treasury said in an introduction to the update.
Recent efforts have prioritized projects implementing the tax code overhaul, the Treasury said in its request for recommendations for the fiscal 2019 priority guidance plan ( Notice 2018-43). The focus on the new tax law (Pub. L. 115-97) meant that many of the projects on the fiscal 2018 plan, which covers the period from July 1, 2017, to June 30, 2018, would not be completed by the end of the 12-month period and likely would be carried over to the fiscal 2019 plan.
The American Payroll Association, in a June 15 letter responding to the request for recommendations, said expanding electronic filing and payment systems should be on the agency’s list of projects to undertake in fiscal 2019, which covers the period from July 1, 2018, to June 30, 2019.
Recommendations from the association of payroll professionals included:
Although recommendations for the fiscal 2019 plan were due June 15, 2018, comments may be submitted at any time during the year to be considered for updates to the plan, the Treasury said.
Copyright © 2018 The Bureau of National Affairs, Inc. All Rights Reserved.
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