Taxes October 21, 2022
IRS Warns of Third-Party Employee Retention Credit Claims
These third parties often charge large upfront fees or a fee that is contingent on the amount of the refund and may not inform taxpayers that ...
October 4, 2022
Deferred Payroll Taxes Are Coming Due Soon
Businesses have until December 31, 2022, to meet their obligations for federal payroll taxes deferred from as far back as 2020. If a business fails to comply, it may be hit with a hefty tax penalty.
August 28, 2022
Florida Staffing Company Partner Sentenced to 24 Years for Payroll Tax, Immigration and Other Crimes
Found guilty of defrauding the IRS out of more than $25 million in income and Social Security and Medicare taxes that should have been collected and...
August 18, 2022
IRS Will Need to Revise Forms 941, 943, 944 and More Due to Inflation Reduction Act
The legislation allows an additional payroll research tax credit of up to $250,000 against the legislation allows an additional payroll research tax credit of up to $250,000 against Medicare Hospital Insurance tax ...
September 1, 2020
Election 2020: Comparing the Biden and Trump Tax Plans
Now that the conventions of both major parties have wrapped up, we’re heading into the home stretch of the presidential election race. Naturally, taxes will be a major point of contention.
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.
November 2, 2017
2018 Minimum Wage Changes – State-By-State
Twenty-seven states — plus Washington, D.C. — index their minimum wages to rise automatically with the cost of living. More states will index minimum wage increases annually, starting in the following years, like: Minnesota (2018), Michigan (2019) and ...
January 24, 2016
IRS Gives Missouri Flood Victims Until May 16 To File Taxes, Estimated Payments and Business Taxes
The tax relief postpones various tax filing and payment deadlines that occurred starting on Dec. 23, 2015. As a result, affected individuals and businesses will have until May 16, 2016 to file their returns and pay any taxes due.
December 13, 2015
New IRS Program Focuses on Alerting Employers to Delinquent Payroll Taxes
Employers, especially those facing liquidity difficulties, sometimes inappropriately divert funds withheld from employees’ pay for working capital or other purposes. Even when well-intentioned, such diversions can quickly result in mounting tax ...
September 12, 2014
How Payroll and HR Can Be Profitable for Accounting Firms
Payroll is not a four letter word. Human Resources (HR) is an additional opportunity to help clients and tie them closer to your firm and services. While many CPA firms use outsourced services for payroll and HR, technology has made providing these services easier and more profitable.
August 13, 2014
Some Exempt Organizations Owe More than $100K in Delinquent Payroll Taxes
According to a new report by the agency that oversees the nation's taxing authority, records at the Internal Revenue Service (IRS) indicate that while the majority of tax-exempt organizations are in compliance with all of their obligations, those that do not often are significantly delinquent on payroll taxes.
August 12, 2014
Employee vs. Independent Contractor: Do You Know the Rules?
When you’re running a business and someone works for you or provides a service, you pay them. That’s easy. What isn’t always so easy is determining how you should treat those payments. Before you enter into a business relationship, it’s important to establish the type of relationship – is this person providing services as an…