Compliance & Tax Updates 11/05/2018

by · November 5, 2018

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Compliance & Tax Updates 11/05/2018

Posted
Updated
ByKelly Sprekelmeyer
ALABAMA

Contributions to an employee Health Savings Account (HSA) are not included in an employee’s unemployment insurance, retroactive to January 1, 2018.

Action Required: No Action Required; required tax amendments (if any) to be filed by PlanSource
ARIZONA / ARKANSAS / IOWA / KENTUCKY / MAINE / MASSACHUSETTS / MINNESOTA / NEW JERSEY / PENNSYLVANIA / SOUTH CAROLINA / VIRGINIAThese states did not adopt the provisions in the federal Tax Cuts and Jobs Act that suspended the exclusions for qualified moving expense reimbursements for tax years 2018-2025. The following earnings tax categories have been updated to ensure qualified moving expense reimbursements are excluded from an employee’s gross income:

    • TMOPY – Taxable Moving Expense (pmt)
    • TMOUP – Taxable Moving Expense (upd)

Action Required: No Action Required; required tax amendments (if any) to be filed by PlanSource
KENTUCKY

Local tax increase for Fort Mitchell, Kenton County (KY034), from 1% to 1.25%, effective January 1, 2019.

Action Required: No Action Required

 

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