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hundreds of billions of dollars a year in revenue, as the employer subsidies and costs are tax-free to employees. [Note that U.S. individuals without access to health coverage through their employer generally do not get a similar tax benefit when purchasing a program.] Other Issues Federal inaction on certain payroll-related issues has meant that states and localities have developed their own laws and rules on payroll-related issues such as paid leave, minimum wage, and other areas that impact payroll. This has created a hodgepodge landscape for multistate employers to navigate. Federal laws along these lines could standardize and ease application for payroll operations. The first Trump Administration floated a paid leave proposal for new parents, which did not get passed. For payroll in the U.S., as the regime changes, stability and consistency in government policy is not likely in the near term. The full LinkedIn Live program remains available here .
Federal inaction on certain payroll-related issues has meant that states and localities have developed their own laws and rules on payroll-related issues such as paid leave, minimum wage, and other areas that impact payroll.
W-4, Employee’s Withholding Certificate, so that federal income tax withholding performed by payroll and payroll systems on worker pay is as accurate to the law as possible. This would change if this provision is not extended. Other key payroll provisions of the TCTJ include adjustments to income tax rates, the tax treatment of moving expenses, business meals and entertainment, and commuting expense programs. And, so long as the extension of the law is being debated, it is possible there could be changes in the taxation of employer- provided health insurance, which costs the government potentially
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GLOBAL PAYROLL MAGAZINE ISSUE 9
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