ThomsonReuters

JANUARY 16, 2024

The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. The earned income tax credit (EITC) is determined based on a taxpayer’s earned income from wages and other sources. How is the EITC changing?

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xendoo

JANUARY 16, 2023

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax.

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inDinero Tax Tips

JANUARY 16, 2024

October 15th, 2024: Form 1040 – File return (if applicable) Note that if you are using a fiscal year that isn’t the calendar year, your tax filing deadline is different and depends on your business entity and when your fiscal year ends. At indinero, our accountants and tax professionals are always up to date on the latest tax changes.

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ThomsonReuters

DECEMBER 11, 2020

The IRS has added an optional computational bridge to its 2021 version of Publication 15-T (Federal Income Tax Withholding Method) that employers can use if they want to treat 2019 or earlier Forms W-4 as if they were 2020 or later Forms W-4 for the purposes of determining federal income tax withholding. Background.

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ThomsonReuters

DECEMBER 29, 2020

Section 288 aligns the definitions of qualified wages for paid sick and family leave with the Internal Revenue Code and excludes leave payments from employer Social Security employment taxes. Extension of Certain Deferred Payroll Taxes. Employer tax credit for paid family and medical leave. Indian employment credit.

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ThomsonReuters

MARCH 15, 2023

Using its regulatory authority, the IRS implemented the Certified Professional Employer Organization (CPEO) program that includes staffing companies and payroll companies, so that such businesses may be treated as the statutory employer for  Code Sec. 3401(d)  purposes and be liable for the federal employment and income tax withholding.

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KROST

OCTOBER 9, 2020

No tax increases for taxpayers under $400,000 threshold. Proposes increase in estate and gift tax rates. Considering other tax liabilities, accelerate taxes for retirement accounts for Roth Conversions, Secure Act provisions. Qualified Dividends preferred over interest income. Pass-through Business Income.

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ThomsonReuters

FEBRUARY 12, 2021

national minimum wage by 2025 and noted during a January 22, 2021 speech that the increase would help bring all Americans above the poverty line. Stay tuned for future editions of Last Week in PAYROLL. The post Last Week in PAYROLL appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

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