Income Taxes

New and Updated

• Type:

  Legal Timetable

  IRS Increases Business Vehicle Standard Mileage Rate, Lowers Valuation Limitation

• Type:

  50-State Charts

  Taxation of Supplemental Wages by State

  Updated to reflect rate reductions in Iowa, Missouri, South Carolina and West Virginia, effective January 1, 2025.

• Type:

  Employment Law Guide

  Withholding Taxes: Nebraska

  Updated to reflect amended nonresident compensation sourcing rules, effective January 1, 2025.

• Type:

  Checklists

  Payroll Practices and Procedures Checklist

  Updated to reflect developments affecting year-end 2024 and 2025 payroll processes.

• Type:

  Checklists

  Coronavirus (COVID-19): Claim the Employee Retention Credit (ERC) Checklist

  Updated to reflect an extension of the consolidated claim process deadline.

• Type:

  Employment Law Guide

  Withholding Taxes: Alabama

  Updated to reflect final rules amending the overtime pay exemption, effective October 1, 2024, and December 15, 2024. 

• Type:

  50-State Charts

  Internal Revenue Code Conformity by State

  Updated to reflect a changed IRC reference date in Massachusetts.

• Type:

  50-State Charts

  Income Tax Withholding Requirements by State

  This chart summarizes requirements regarding which state's income tax an employer must withhold from the pay of resident and nonresident employees no matter where they perform work, even if remotely.

• Date:

  November 5, 2024

  Type:

  News

  401(k) Maximum Going Up to $23,500 Next Year

  The IRS has released its 2025 cost-of-living adjustments (COLAs) to benefits and contributions to qualified retirement and deferred contribution plans.

• Type:

  Legal Timetable

  Rhode Island Employment Tax Exemption for Nonresident Disaster Response Employees and Employers Takes Effect