and simplifies the filing requirements for obtaining automatic consent, including:
The new law clarifies
that a taxpayer may take into account only wages that are paid to the taxpayer's common-law employees and reported on a W-2 filed with the Social Security Administration no later than 60 days after the W-2's extended due date.
that in calculating taxable income in the year of the deduction, taxable income is computed without regard to the Sec.
Proposed change increases the dollar thresholds for preparation of written acquisition plans; updates acquisition planning requirements for consistency with changes to the DoD 5000 series publications; deletes unnecessary text relating to contract administration and class justifications for other than full and open competition; clarifies
requirements for funding of leases; and relocates to Procedures, Guidance, and Information (PGI) at <http://www.
Revenue Ruling 2004-109 clarifies
that employment taxes must be paid--and income taxes withheld--on bonuses paid for signing an employment contract.
The SOP clarifies
that benefit obligations should not include death benefits actuarially expected to be paid during participants' active service period.