March 7, 2024 The purpose of this notice is to ensure that employees are aware of the Internal Revenue Service (IRS) income reporting requirements when attorney fees are awarded. In 2005, the IRS issued regulations that changed how attorney fee awards are to be treated for tax reporting purposes, based upon the Supreme Courtâs decision…
Background Each year the U.S. Postal Service is required to report on compensation in the annual Comprehensive Statement of Postal Operations (Comprehensive Statement). For calendar year (CY) 2022, the annual salary of each Postal Service employee was limited to $226,300. Two exceptions granted under the Postal Accountability and Enhancement Act of 2006 (PAEA) allow the…
The Postal Service has a message for employees who donât use direct deposit to receive their paycheck: You might want to reconsider your choice. Taking advantage of the direct deposit option can help you avoid potential delivery delays caused by bad weather and other factors. If you currently receive hard copy paychecks, switching to direct…
Itâs important to understand the information on your pay stub so that you can ensure that youâre getting paid properly. Whether you get a paper check or payment by direct deposit, you receive a pay stub every pay period that explains what youâve earned as well as any deductions from your pay. This article will…
The Postal Service is encouraging employees who donât use direct deposit to receive their paychecks to sign up as soon as possible to avoid potential network disruptions caused by the coronavirus pandemic. While no disruptions are expected, the organization wants employees to enroll in the direct deposit option as a precaution. Employees who already have…
USPS employeesâ latest paychecks will reflect recent changes to the withholding of federal income taxes. The organization is implementing new withholding guidelines from the IRS that dictate how much employers withhold from pay for federal taxes. Beginning Feb. 3, the fourth pay period of the year, the biweekly personal exemption value for each federal tax…
