|    Products    |     Catalog Featured This Week Payroll Management Guide Hawaii withholding return filing changed from monthly to quarterly CFPB delays effective date for prepaid accounts rule IRS has new voluntary program for classifying workers Unemployment Insurance Reports with Social Security SSA announces new matching program with VA/VBA SSA seeks comments on proposed information gathering activities Payroll Management Guide Hawaii withholding return filing changed from monthly to quarterly Hawaii legislation has been enacted that changes the frequency of filing returns of income taxes withheld on wages from monthly to quarterly for all employers, effective January 1, 2018. The frequency for withholding tax payments will not change. An employer whose liability for taxes withheld exceeds $5,000 but does not exceed $40,000 annually must remit the complete amount of tax withheld monthly on or before the 15th day of the calendar month following the month for which the taxes have been withheld. Employers whose liability for taxes withheld does not exceed $5,000 may continue to remit the completed amount of tax withheld with their quarterly returns, and employers whose liability for taxes withheld exceeds $40,000 annually must continue to remit the complete amount of tax withheld on a semiweekly schedule. (S.B. 1007, Laws 2017, effective as noted.)         (Read Intelliconnect) » CFPB delays effective date for prepaid accounts rule The Consumer Financial Protection Bureau has delayed the effective date of the rule governing prepaid accounts by six months, to April 1, 2018. The CFPB has also decided to revisit at least two substantive issues in the prepaid accounts rule through a separate proposal in the coming weeks. Those two issues, posing complexities for implementation, relate to: the linking of credit cards to digital wallets that are capable of storing funds; and error resolution and limitations on liability for prepaid accounts that cannot be registered, have not yet been registered, or for which consumers have attempted but have not successfully completed the registration process. The CFPB's effective date extension responds to industry concerns that they would have difficulty complying with some provisions by the original Oct. 1, 2017, effective date. The CFPB adopted the final prepaid accounts rule in October 2016. The new rule amends Reg. E (12 CFR Part 1005) and Reg. Z (12 CFR Part 1026) to give prepaid account consumers protections similar to those for checking account and credit card consumers. Effective date extension. The CFPB believes that a six-month delay of the effective date, when added to the nearly 12 months previously provided, provides for an appropriate balance between the interests of the consumers who will receive the benefits of the rule and the needs of industry for an adequate implementation period. Safe harbor. The CFPB is not adding an explicit safe harbor for early compliance, although the absence of one should not prevent financial institutions from implementing required practices prior to the effective date. The forthcoming proposal will seek comment on whether there are in fact any conflicts between the new requirements and the current regulations applying to accounts that will be covered by the rule that would merit a more formal safe harbor. (82 FR 18,975, April 25, 2017.) 2017-08341         (Read Intelliconnect) » IRS has new voluntary program for classifying workers The IRS has a new Internal Revenue Manual (IRM) section regarding the Voluntary Classification Settlement Program (VCSP). The VCSP allows taxpayers to voluntarily reclassify workers as employees for federal employment tax purposes. It gives eligible taxpayers that agree to prospectively treat workers as employees' relief from a federal employment tax audit for past years for those workers being reclassified and gives them partial relief from federal employment taxes owed related to those workers. To participate, the taxpayer must apply to participate in the program, meet certain eligibility requirements, and enter into a closing agreement with the IRS. This new IRM section gives an overview of the VCSP, sets guidelines and duties for Centralized Employment Tax Operations (CETO), tax examiners (TEs), and lead tax examiners (leads) to complete the compliance review of Form 8952, Application for Voluntary Classification Settlement Program (VCSP), and execute the VCSP agreement. (Internal Revenue Manual Audit, IRM 4.23.20, February 9, 2017.) VCSP Procedures         (Read Intelliconnect) » Unemployment Insurance Reports with Social Security SSA announces new matching program with VA/VBA In accordance with the provisions of the Privacy Act, the SSA has announced a new computer matching program that it is currently conducting with the VA/VBA. The computer matching agreement sets forth the terms, conditions, and safeguards under which the VA/VBA will provide the SSA with information necessary to: (1) identify certain Supplemental Security Income (SSI) and Special Veterans Benefit (SVB) recipients under Title XVI and Title VIII of the Social Security Act, respectively, who receive VA-administered benefits; (2) determine the eligibility or amount of payment for SSI and SVB recipients; and (3) identify the income of individuals who may be eligible for Medicare cost-sharing assistance through the Medicare Savings Programs as part of the agency's Medicare outreach efforts. The deadline to submit comments on the proposed matching program is May 20, 2017. The matching program will be effective on May 11, 2017, and will expire on November 10, 2018. Interested parties may comment on the notice by either telefaxing to (410) 966-0869, writing to Mary Ann Zimmerman, Acting Executive Director, Office of Privacy and Disclosure, Office of the General Counsel, Social Security Administration, 617 Altmeyer Building, 6401 Security Boulevard, Baltimore, MD 21235-6401, or email at Mary.Ann.Zimmerman@ssa.gov. All comments received will be available for public inspection at this address. See ¶15,643C.         (Read Intelliconnect) » SSA seeks comments on proposed information gathering activities The Social Security Administration is soliciting comments from the public regarding several forms and information gathering activities prior to their submission for clearance by the Office of Management and Budget (OMB), as well as for some forms and information gathering activities that already have been submitted to the OMB for approval. Specifically, the SSA wants feedback on the need for the information solicited and its practical utility; the accuracy of the agency's burden estimate; ways to enhance the quality, utility, and clarity of the manner in which the information is collected; and ways to minimize the burden on respondents, including the use of automated collection techniques or other forms of information technology. The forms and information gathering activities for which comments are sought are listed in a notice in the April 18, 2017, Federal Register (82 Fed. Reg. 18335). Comments may be mailed or faxed to the addresses and numbers listed in that notice. See ¶15,642C. Comments due by May 18, 2017 Comments are due by May 18, 2017, for the following items, which already have been submitted to the OMB for approval: Supported Employment Demonstration (SED); Student Reporting Form (SSA-1383, SSA-1383-FC); Advanced Notice of Termination of Child's Benefits & Student's Statement Regarding School Attendance (SSA-1372-BK (Individuals/Households, State/Local/Tribal Government)); Request for Review of Hearing Decision/Order (HA-520); and Disability Update Report (SSA-455). Comments due by June 19, 2017 Comments are due by June 19, 2017, for the following items, which have not yet been submitted to the OMB for approval: Promoting Opportunity Demonstration; Statement Regarding Contributions (SSA-783); Disability Report—Appeal (SSA-3441-BK, i3441, Electronic Disability Collect System (EDCS)); and Authorization to Disclose Information to SSA (i827 with electronic signature (eAuthorization), SSA-827 with wet signature (paper)).         (Read Intelliconnect) »