14 May IRS Issues Guidance on Taxability of DCAP Benefits for 2021, 2022
Posted at 18:18h in Employee Benefits White Papers 0 Comments[wpseo_breadcrumb]
The final regulations became effective upon publication and replace proposed regulations and interim guidance provided in IRS Notice 2018-99.
The 2021 standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
The changes affect questions in all 13 of the subtopics covered by the FAQs.
Refundable tax credits are available to businesses for employee paid leave taken under the federal Families First Coronavirus Response Act (FFCRA), enacted in March 2020 and effective through Dec. 31, 2020.