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Taxation of Compensation and Benefits
Updated to reflect a reduced rate in Indiana, effective January 1, 2025.
Updated to reflect amended requirements regarding reporting and furnishing of Forms 1095-C, and IRS Revenue Ruling 2025-4 guidance regarding the tax treatment of state paid family and medical leave, effective January 1, 2025.
Updated to reflect a changed IRC reference date in Idaho, effective retroactive to January 1, 2025.
Updated to reflect the business vehicle standard mileage rate, the fixed and variable rate mileage allowance, and the company fleet average value, effective January 1, 2025.
Updated to reflect developments affecting year-end 2024 and 2025 payroll processes.
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.
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.
HR guidance on the taxation of compensation and benefits.