Payroll on Bloomberg Tax is built to get you to the right answer faster and more efficiently. Get all the payroll intelligence you need with Bloomberg Tax expert analysis, perspectives and...
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.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)