WASHINGTON (CN) – Certain employers may report employee tax withholdings once a year instead of quarterly, according to a new temporary IRS regulation.
The rule applies to employers with less than $1,000 in employee withholding, among others. Accumulated tax payments also may be made annually rather than weekly or semi-weekly.
Click the document icon on the front page for details and links to the regulations. The document icon under the “Banking Goodwill, Cessna 560, IRS & More” heading leads to other new regulations.