Topics >
Payroll >
Payroll Taxes >
Taxation of Compensation and Benefits
Updated to reflect a forthcoming rate reduction in Iowa.
The IRS has released its 2025 cost-of-living adjustments (COLAs) to benefits and contributions to qualified retirement and deferred contribution plans.
Updated to reflect inflation-adjusted amounts relating to retirement plans and IRAs under IRS Notice 2024-80, effective January 1, 2025.
Updated to reflect IRS Notice 2024-68, regarding the annual optional high-low and transportation industry per diem rates, effective October 1, 2024; and the aircraft terminal charge and SIFL mileage rates, effective July 1, 2024, through December 31, 2024.
Updated to reflect a changed IRC reference date in Arizona, effective July 20, 2024.
Enhanced to improve the comprehensiveness, organization and scope of coverage.
A new notice from the IRS also provides guidance on Roth matching contributions, auto enrollment plans and more.
Updated to reflect the Transportation Benefits Program Act, effective January 1, 2024.
Updated to reflect long-term part-time employee 401(k) plan rules, effective with plan year 2024; and SECURE 2.0 Act of 2022 amendments to 401(k) plans, effective for plan years beginning after December 31, 2023.
Updated to reflect developments affecting year-end 2023 and 2024 payroll processes.
HR guidance on the taxation of compensation and benefits.