This post was originally published on this site
HR teams will have to collaborate with payroll vendors to ensure compliance with IRS guidelines. This is necessary due to the temporary nature of certain deductions (the ones expiring in 2028). Any miscalculations of paychecks, and companies could face penaltie
s or employee dissatisfaction. On May 18, the House Budget Committee narrowly passed what can be called the “One Big Beautiful Bill Act” that may advance the current administration’s ambitious tax and immigration plan. This 1,116-page reconciliation bill, which is central
t
o the House GOP’s 2025 agenda, not only promises sweeping tax cuts and immigration reforms but also comes with a