Notice 931 sets the deposit rules and schedule for Form 941. This information is also used for Forms 943, 944, 945, and CT-1. Two Deposit Schedules There are two deposit schedules—monthly or semiweekly—for determining when you deposit social security and Medicare taxes and withheld federal income tax. These schedules tell you when a deposit is... Read more »

The Key Issues Surrounding Earned Wage Access(EWA) Businesses have found that EWA can be an effective recruiting tool, and employees are beginning to demand this benefit. The rush to provide this benefit during the labor shortages created by the pandemic has led to some confusion. There have certainly been some opportunists providing the service with... Read more »

Federal FMLA The Family and Medical Leave Act (FMLA) provides certain employees with up to 12 weeks of unpaid, job-protected leave per year. It also requires that their group health benefits be maintained during the leave. FMLA is designed to help employees balance their work and family responsibilities by allowing them to take reasonable unpaid... Read more »

The Department of Labor announced a final rule on independent contractors in January. The new ruling is expected to make it more difficult to classify workers as independent contractors. It introduces a new standard using a totality-of-the-circumstances analysis of the economic reality test to determine if the worker is in business for themselves. Fair Labor... Read more »

IRS Issues Standard Mileage Rates For 2024; Mileage Rate Increases To 67 Cents A Mile WASHINGTON — The Internal Revenue Service issued the 2024 optional standard mileage rates to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1st of this year, the standard mileage rates... Read more »

The IRS released the 2024 Form W-4, Employee’s Withholding Certificate, with few changes. Instructions for using the IRS’s tax withholding estimator when figuring withholding for multiple jobs, which were removed in the 2023 version, have been added back to the form. The amounts in the tax tables for use with the Multiple Jobs Worksheet have... Read more »

We have exciting news to share with our valued customers. Aatrix Software has recently been acquired by Sovos, a global provider of tax, compliance, and trust solutions and services. Our two businesses have extensive experience and expertise in helping small and medium-sized businesses navigate the complexity of tax and regulatory compliance. This acquisition will enable... Read more »

What Is A Transmitter Control Code (TCC Number)? A Transmitter Control Code (TCC) is a code assigned by the Internal Revenue Service (IRS) to entities that transmit electronic returns or other electronic forms to the IRS. The TCC is part of the Electronic Filing Identification Number (EFIN) system used to identify and track electronic filers.... Read more »

Acquisition comes amid changing regulatory mandates and thresholds for e-Filing across multiple forms. ATLANTA – January 11, 2024 – Global compliance technology solutions and services provider Sovos announced today it has acquired North Dakota-based Aatrix Software, a leader in payroll tax forms, extending our leadership in compliance with enhanced capabilities across e-filing for 1099 and... Read more »

Employers with more than 50 full-time or equivalent employees must comply with the Affordable Care Act (ACA) requirements. These Applicable Large Employers (ALE) are required to file the ACA Form 1095 annually. As this year’s filings are being prepared, employers should consider five important things when setting up for 2023. The New eFile Threshold Will... Read more »