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IRS Promotes E-Filing of Payroll Tax Forms

CPA Practice

The Internal Revenue Service is reminding employers that the best way to file their next quarterly payroll tax return by the Oct. Two options to electronically file payroll tax returns The first option for employers is to self-file by purchasing IRS-approved software that meets their specific needs. This includes the Oct.

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Ultra-Rich Should Pay More Taxes to Save Social Security, Poll Shows

CPA Practice

More than half say they approve of trimming benefits for high-earners, and for taxing wages for Social Security beyond the first $168,600 in earnings as done under current policy. The poll was conducted among registered voters in Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin between April 8-15.

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Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

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The latest on a national sales tax

TaxConnex

The provisions This bill imposes a national sales tax on the use or consumption in the U.S. of taxable property or services in lieu of the current income taxes, payroll taxes and estate and gift taxes. The rate of the sales tax will be 23% in 2025, adjusted in subsequent years.

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The Benefits of Delayed Business Filings

CPA Practice

She is the CEO of CorpNet , the most innovative way to start a business, register for payroll taxes, and maintain business compliance across the United States. Generally, a company can choose a “future effective date” 30 to 90 days out. Nellie Akalp is a passionate entrepreneur, recognized business expert, and mother of four.

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Biden Vows to Veto GOP Plan to Abolish the IRS

CPA Practice

This is known as the tax-inclusive tax rate,” William Gale, a Senior Fellow at the Brookings institute, explained when the idea was first proposed. Georgia Rep. 25 , or the Fair Tax Act. The rate of the sales tax will be 23% in 2025, with adjustments to the rate in subsequent years.

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The IRS is Trying to Change the Way Businesses Report Tips

CPA Practice

Like salaried wages, tips are subject to income and payroll taxes. Waiters, for instance, are technically required to report tips to their employer, who then withholds and pays the proper taxes. By Nick Hawkins, Inc. TNS) For the past two decades, tipped employees have had the responsibility of reporting their tips to the IRS.

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