Employment tax year-end planning essentials

Are you ready?

  • Share

On 13 November 2014, our “Employment tax year in review” webcast participants provided valuable feedback about three of the year’s hot topics: Affordable Care Act information reporting, taxation of same-gender partner benefits and preparedness for meeting new local transit benefit mandates.

Here’s what we learned:

  • A large majority of responders, 69%, said they will look to their payroll and employment tax departments to meet the new Affordable Care Act information reporting requirements.
  • Close to half of the responders have not yet reviewed the accuracy of their state payroll tax treatment of same-gender spousal and partner benefits.
  • Over 30% of responders have not yet confirmed that their transit and parking benefit plans meet IRS requirements, putting them and their employees at risk of losing tax-favored status for these benefits.

Click on our infographic to see the summary of the polling results.

EY - Employment tax year in review, summary of the polling results

For more information

Ernst & Young LLP’s 2014 employment tax year in review Download highlights of "Employment tax year in review" webcast.