On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act of 2022 (“SECURE 2.0”, HR 2954). The vote was largely supported by both parties (414-5). The Senate will likely act on the bill later this spring. While we expect several...
IRS
Encourage Your Employees To Review Federal Withholding Each Year
The IRS says, "All taxpayers should review their federal withholding each year to make sure they're not having too little or too much tax withheld." However, employees may not be aware of the IRS' suggestion, which is why employers should tell them about it. Why...
Small businesses can benefit from the work opportunity tax credit
The work opportunity tax credit is a federal tax credit available to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment. This credit is available for wages paid to certain individuals who begin...