IRS wage levies are sent to the tax debtor’s employer via Form 668-W, Notice of Levy on Wages, Salary, and Other Income, which contains six parts. Before the Tax Cuts and Jobs Act (TCJA), the employer was required to give the employee the enclosed Statement of Exemptions and Filing Status, which the employee was supposed […]
In todays Failure to comply with ACA reporting requirements can lead to extremely costly penalties: for each late, incomplete, or incorrect form, the IRS can levy a fee of $260. The ACA also mandates employers provide certain forms to employees on top of filing reports with the IRS. There’s a separate fee for failing to provide […]
What health and savings benefits do you offer your employees? Nowadays, it’s common for employers to assist their employees with their medical expenses. If you don’t do it already, FSAs are a great place to start! Flexible spending accounts (FSAs) are an employer sponsored benefit that allows employees to set aside money on a pre-tax basis […]
