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Payroll News - March 2014
Minimum Wage Increases for Federal Contractors
President Obama recently established an Executive Order that will be applicable to federal contractors and subcontractors. The new hourly minimum wage for nonexempt employees will be $10.10 and an hourly cash wage for tipped employees of $4.90 beginning January 1, 2015.
The IRS Answers Questions about Employer Shared Responsibility Provisions Under the Affordable Care Act
The IRS has issued final regulations applicable "for periods after 12-31-14" under IRC Sec. 4980H, the employer shared responsibility provisions regarding health coverage enacted as part of the Affordable Care Act. The IRS has also released a set of 46 questions and answers on the regulations.
Taxpayer Advocate Releases the 2013 Annual Report to Congress
The Annual Report to Congress creates a dialogue at the highest levels of government to address taxpayers’ problems, protect taxpayers’ rights, and ease taxpayers’ burden. The report discusses at least 20 items, which include the SS-8 worker classification program, the IRS’s need to expand taxpayer services, identity theft and the Defense of Marriage Act. For more details, download the executive summary.
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Source: American Payroll Association
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