The IRS has released its 2023 cost-of-living adjustments (COLAs) to the dollar limitations on benefits and contributions to qualified retirement and deferred contribution plans.
The Social Security Administration (SSA) announced that, for 2023, the maximum earnings subject to the Social Security payroll tax will increase nearly 9%.
This resource will help an employer properly complete Form 941-X, Adjusted Employer's QUARTERLY Tax Return or Claim for Refund, and related worksheets, to retroactively claim or adjust a previously filed COVID-19-related payroll tax credit, including the Employee Retention Credit, the credit for providing paid sick and family leave and health benefits to employees under the Families First Coronavirus Response Act, and the credit for providing the 100% COBRA subsidy to employees during the pandemic.
HR guidance on compliance with payroll taxes, including income taxes, Social Security and Medicare (FICA) taxes, and unemployment, disability and workers' compensation insurance taxes.