Infosight Spotlight: Backup withholding and employment channels updated

The following InfoSight channels have been recently updated:

• July 2018 – Tax Issues Channel
  The Backup Withholding pages were updated to reflect the new rate of 24%. Various links were updated on the Form 990 topic. For 1098 and 1099 pages there was a modification to Mortgage Debt Relief section noting the PMI/mortgage debt forgiveness tax was extended through 2017.

• June 2018 – Employment Channel Topic – Employee Retirement Income Security Act (ERISA)
  This topic was expanded to include information on the recent regulatory changes effective April 2018.

Please review these channels to ensure your credit union is in compliance. Read the full InfoSight newsletter here.