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paychex_10362381

January 12, 2018 

Paychex Updates New Payroll Tax Withholding Tables

IRS Notice 1036, the just-released guidance, instructs employers how to appropriately withhold wages from their employees’ paychecks in 2018. The new tables reflect the increase in the standard deduction, repeal of personal exemptions, and changes in ...

 Cryptocurrency, Taxation, and Initial Coin Offerings

January 12, 2018 

Cryptocurrency, Taxation, and Initial Coin Offerings

The IRS classifies cryptocurrency as property, then they turn around and issue John Doe Summonses[2] to Coinbase, which was the same thing the IRS did to foreign bank accounts, seemingly treating coin as currency. However the taxation of coin works ...

 IRS Payroll Tax Withholding Chart – 2018

January 11, 2018 

IRS Payroll Tax Withholding Chart – 2018

The updated withholding information shows the new rates for employers to use during 2018. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018.

 IRS Selects New Advisory Council Members

January 11, 2018 

IRS Selects New Advisory Council Members

The IRSAC, established in 1953, is an organized public forum for IRS officials and representatives of the public to discuss various issues in tax administration. The council provides the IRS Commissioner with relevant feedback, observations and ...

 Tax Professionals Need to Talk about the Cannabis Industry

January 11, 2018 

Tax Professionals Need to Talk about the Cannabis Industry

Today the cannabis industry is a $6 billion industry. In ten years it is projected that cannabis will be a $1 trillion industry. In my home state of Florida, cannabis became legal last year, however the state, as it legislated the laws surrounding ...