Search Results for "fica"

Resource

Employee Cell Phones Generally Are Now Nontaxable

In September 2011, the Internal Revenue Service (IRS) issued Notice 2011-72, which provides helpful and long-awaited guidance on the taxation of cell phones and similar telecommunications equipment (hereinafter referred to collectively as “cell phones”).  In addition, the IRS issued a related memorandum to its field examination agents that provides additional

Resource

New IRS Settlement Offer for Misclassified Employees

A new program has been initiated by the IRS for taxpayers who have erroneously classified employees as independent contractors. This new Voluntary Classification Settlement Program (“VCSP”) is described in IRS Announcement 2011-64. A taxpayer who voluntarily corrects misclassifications under this program will receive very favorable terms relative to taxpayers who are forced to make the changes as the result of an IRS audit.

Resource

IRA and SSA Release 2012 Inflation Adjustments

Many tax-related limitations and thresholds change on a periodic basis due to cost of living.  Toward the end of each year, the IRS releases lists of the new amounts that will be applicable for the upcoming year.  Two such IRS News Releases were issued a few days ago, and the

Resource

Healthcare Reform and SNF PPS Recalibration – Fast and Furious

Health Care Reform has taken center stage again in Washington D.C. now that the Debt Ceiling talks are momentarily behind us.  Specifically, the Centers for Medicare and Medicaid Services (CMS) has issued a variety of Federal Register notices updating program policy for hospitals, skilled nursing facilities, home health agencies (SNF), hospice providers and physicians.