News & Analysis as of October 12, 2024

Employer Liability Issues

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Weekly IRS Roundup June 10 – June 14, 2024

McDermott Will & Emery on 6/26/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 10, 2024 – June 14, 2024....more

Weekly IRS Roundup October 23 – October 27, 2023

McDermott Will & Emery on 10/31/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 23, 2023 – October 27, 2023...more

The IRS Requirement to Report Settlements With Government Agencies Over $50,000

Steptoe & Johnson PLLC on 2/16/2023

As part of the 2017 Tax Cuts and Jobs Act (TCJA), Congress modified the rules governing the deductibility of certain government settlement-related expenses under the Internal Revenue Code (IRC). Effective January 1, 2022,...more

Weekly IRS Roundup January 17 – January 20, 2023

McDermott Will & Emery on 1/24/2023

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 17, 2023 – January 20, 2023...more

Settled a Lawsuit with a Government Agency Last Year? Form 1098-F Reporting of Fines and Penalties is Coming Due

Littler on 1/23/2023

As part of the 2017 Tax Cuts and Jobs Act (Act), Congress enacted Internal Revenue Code (Code) section 6050X, which requires government agencies (and certain nongovernmental regulatory agencies) to issue information returns...more

Weekly IRS Roundup September 19 – September 23, 2022

McDermott Will & Emery on 9/27/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 19, 2022 – September 23, 2022....more

Guidance on Directive to Defer Payroll Tax Obligations Leaves Unanswered Questions

Farella Braun + Martel LLP on 9/1/2020

On August 8, 2020, the President directed the Secretary of the Treasury to authorize the deferment of certain payroll tax withholding, depositing, and payment obligations otherwise incurred on wages and compensation paid...more

Coronavirus: Recent Tax-Related Developments

Proskauer - Tax Talks on 3/13/2020

Possible Tax Filing and Payment Extension. At a House subcommittee meeting yesterday, March 11, 2020, Treasury Secretary Steven Mnuchin announced that the Treasury Department is considering extending the deadline for certain...more

Federal Employment Taxes: Employee-Independent Contractor Issues (Part 5)

Burr & Forman on 12/20/2017

Section 530 Relief - Employers that have workers which the employer classifies as “independent contractors” (Form 1099) risk having these workers reclassified by the IRS as employees. This is a major audit area for the...more

Best in Law: Tax Ruling Confirms Protocol on Job-Related Judgments

Best Best & Krieger LLP on 10/7/2015

The California Court of Appeal recently confirmed that employment-related settlements or judgments are wages from which employers must withhold payroll taxes. In Cifuentes v. Costco Wholesale Corp., Cifuentes...more

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Income Taxes › Internal Revenue Code (IRC) › Employer Liability Issues

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