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...
A new procedure on requirements for employee consents used to support claims for refund of employment taxes and stating that an employee consent must identify the basis of the claim for refund was proposed Feb. 13 by the Internal Revenue Service.
The procedure proposed in Notice 2015-15 deals with refunds for overpaid taxes under the Federal Insurance Contributions Act and the Railroad Retirement Tax Act under tax code Section 6402.
The proposed revenue procedure seeks to clarify questions that have arisen concerning what information must be provided in an employee consent and whether an employee consent may be requested, furnished and retained in an electronic format, the notice said.
Employers may not receive refunds of the employer share of overpaid FICA tax without making reasonable efforts to protect their employees' interests, the notice said.
“In addition to providing the relevant name, address and taxpayer identification number, a valid employee consent must identify the basis of the claim for refund and be signed by the employee under penalties of perjury,” the notice said. Guidance is provided in the proposed revenue procedure concerning what constitutes “reasonable efforts” to secure an employee consent when a consent is not obtained.
The request must specifically ask the employee to click on a voting button that says “yes” or send a reply message to the employer, the notice said, adding that a read-receipt message is not sufficient.
The proposed revenue procedure would permit, but would not require, the employee consent to be requested, furnished and retained in an electronic format, the notice said.
Comments on the proposed revenue procedure may be submitted on or before April 31, 2015 to: Internal Revenue Service, CC:PA:LPD:PR (Notice 2015-15), Room 5203, P.O. Box 7604, Ben Franklin Station, Washington, D.C. 20224.
To contact the reporter on this story: Keith M. Hill in Washington at email@example.com
To contact the editor on this story: Michael Trimarchi at firstname.lastname@example.org.
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 email@example.com.
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 firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)