As the Wall Street Journal pithily summarizes it, "Higher earners age 50 and up will get two more years to use pretax dollars for all of their retirement savings in 401(k)s and similar plans, after the Internal Revenue Service delayed a new requirement." The IRS has...
Taxes
IRS orders immediate stop to new Employee Retention Credit processing
Amid rising concerns about a flood of improper Employee Retention Credit claims, the Internal Revenue Service announced an immediate moratorium through at least the end of the year on processing new claims for the pandemic-era relief program to protect honest small...
Educational assistance programs can be used to help pay workers’ student loans
With the fall college semester approaching, the Internal Revenue Service reminded employers and employees that under federal law, employers who have educational assistance programs can use them to help pay student loans for their employees. As part of a wider effort...