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IRS Releases Guidance on Refunds of Overcollected Social Security and Medicare Taxes

The Internal Revenue Service has released a notice that provides guidance to employers on the requirements for employee consents used by an employer to support a claim for refund of over-collected Social Security tax and Medicare tax. Notice 2015-15, which contains a proposed revenue procedure, aims to clarify the basic requirements for a request for a consent, and for the employee consent itself. It permits a consent to be requested, furnished and retained in an electronic format as an alternative to a paper format. Read More…

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