In November, NPRC members met with SSA to learn about SSAâ€™s IT Modernization Earnings project. SSA needs to comply with new NIST security standards, so this is a change opportunity to rewrite W-2 reporting-related systems. The NPRC agreed to kick off a series of further technical meetings over the coming year to offer input. The […]
The NRPC recently sent a letter to the Internal Revenue Service Associate Chief Counsel (Procedure and Administration) with comments on the proposed regulations, which provide safe harbor rules that treat payee statements/information returns, such as Forms W-2, that contain de minimis errors in dollar amounts as correct for penalty purposes. See attached letter for more […]
Lead Time Needed for any Information Reporting Penalty Enforcement Policy or Systems Changes under Sections 6721/6722
On December 21, 2018, the NPRC sent a formal letter to the IRS explaining the difficulties and challenges in implementing change in enforcement policy and/or system changes without reasonable advance notice described in the letter as at least one year (and preferably two). See see attached letter.
The NPRC has been active in voicing concerns over whether employers would be able to timely and accurately implement the significant proposed changes to the 2019 Form W-4. On September 20th,Â the Treasury Department announced that the IRS will implement a redesigned W-4 form for tax year 2020, a timeline that will allow for continued […]