And by act, we mean Act 32, which consolidates Pennsylvania’s tax collection systems, reassigning Earned Income Tax from each individual school district into a county wide Tax Collection District. This consolidation has resulted in a myriad of changes that employers must follow, beginning with the first payroll in 2012*. Is your business ready? One major [...]
Posts Tagged ‘taxes’
Employers: Do You Have Your Act Together?
Monday, August 29th, 2011End of Year Reporting Update: Group Life Insurance Imputed Income
Wednesday, December 1st, 2010It’s December, which means time is running out for you to report your company’s group life insurance imputed income to Uncle Sam. Many companies don’t realize offering employees an employer-paid group term life insurance policy in excess of $50,000 is considered a fringe benefit by the Internal Revenue Service (IRS). Employers are required to report [...]
