In an effort to help our clients comply with new legislation regarding overtime in 2025, we want to make you aware of an informational item that will appear on 2025 Forms W-2. For employees who earned overtime in 2025, Box 14 of the W-2 will include an estimated...
WASHINGTON — The Department of the Treasury and the Internal Revenue Service issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and qualified overtime compensation...
WASHINGTON — The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025. The IRS today also issued technical guidance regarding all cost‑of‑living adjustments...