Accounting
New IRS FAQ clarifies tax treatment of work-life referral services
The Internal Revenue Service has issued
A work-life referral program is an employer-funded fringe benefit that provides such services to eligible employees. Services are restricted to informational and referral consultations that help employees identify, contact and negotiate with life-management resources for solutions to such problems as:
- Choosing a child or dependent care program;
- Connecting with a local retirement or financial planner; or,
- Navigating eligibility for government benefits.
The FAQ clarifies that, under certain circumstances, the value of services to employees through a work-life referral program can be excluded from income and employment taxes as de minimis fringe benefits.
Because this FAQ has not been published in the Internal Revenue Bulletin, it will not be relied on or used by the IRS to resolve cases. If a FAQ turns out to include an inaccurate statement of the law as applied to a particular case, the law will control the taxpayer’s tax liability.
Taxpayers in disaster areas who received extensions to file their 2023 returns must, depending on location, file their returns by Feb. 3 or May 1, 2025.
Taxpayers in the entire states of
Those in all of
Tristan Wheelock/Bloomberg
Taxpayers who live or have a business in Israel, Gaza or the West Bank and certain other taxpayers affected by the terrorist attacks in the State of
Eligible taxpayers are individuals and businesses affected by various disasters that occurred during the late spring through the end of 2024. For extension filers, payments on the 2023 tax year returns are not eligible for the additional time because they were originally due last spring before any of these disasters occurred.
The IRS normally provides relief, including postponing various tax filing and payment deadlines, for any area designated by the
The agency will work with any taxpayer who lives outside the disaster area but who has records necessary to meet a deadline occurring during the postponement period in the affected area. Taxpayers qualifying for relief who live outside the disaster area should contact the IRS at (866) 562-5227. This also includes workers who assisted with relief who are affiliated with a recognized government or philanthropic organization.
Enjoy complimentary access to top ideas and insights — selected by our editors.
Delaware has the most competitive property taxes, and has held the top spot almost every year since 2020, with the exception of 2023. Connecticut, with its high property tax rates, is the least competitive.
Competitiveness isn’t simply a matter of how high or low an individual state’s property tax rate is; it also reflects the overall complexity of their tax regime, which can be influenced by other factors, like any estate, inheritance, gift, and other discretionary wealth taxes the state may levy. States were scored on a scale of 1 to 10, where 10 was the most competitive, and 1 the least.
Read more about the states with the most and least competitive property taxes in 2025 below.
In 2020-2024, the rank of Washington, D.C., does not affect the rank of states featured.
States with the most competitive property taxes
States with the least competitive property taxes
Services index shows big jump in prices for December as companies fear tariffs
Adopt, Test, Monitor: simplifying AI for CPAs
IRS warns deadlines coming for taxpayers hit by disasters
New 2023 K-1 instructions stir the CAMT pot for partnerships and corporations
The Essential Practice of Bank and Credit Card Statement Reconciliation
Are American progressives making themselves sad?
-
Economics7 days agoHomelessness rises to a record level in America
-
Personal Finance1 week agoAs ETF assets top $10 trillion for first time, here are trends to watch
-
Personal Finance1 week agoHere’s how to decide on the right student loan repayment plan for you
-
Finance5 days agoKen Griffin’s flagship hedge fund at Citadel climbs 15.1% in 2024
-
Personal Finance7 days agoHere are steps you can take to avoid overspending next holiday season
-
Economics5 days agoJimmy Carter reshaped his home town
-
Accounting3 days agoDepreciation of Assets and Key Strategies for Accurate Valuation
-
Accounting7 days agoIn the blogs: Meltdown mode