ThomsonReuters

FEBRUARY 7, 2022

The program would be funded by 2% payroll tax, 1% paid by the employer, 1% paid by the employee ( L. Covered business entities are businesses that contract with one or more individuals and are required to report payments for services on Form 1099-MISC or 1099-K for more than 25% of its Illinois workforce (effectively gig workers).

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ThomsonReuters

FEBRUARY 9, 2022

The DOL also has a list of potential FUTA credit reduction states for tax year 2022, which includes California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, New Jersey, New York, Pennsylvania, and the U.S. States and localities may also provide tax relief for businesses affected by a disaster. Virgin Islands.

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ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. District of Columbia. per hour on July 1. per hour. .

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ThomsonReuters

JANUARY 16, 2024

Among the key retirement provisions in the Act are: Expanding automatic enrollment in retirement plans; increasing the age for the required beginning date for mandatory distributions; a higher catch-up limit to apply at ages 60, 61, 62, and 63; and eliminating the additional tax on corrective distributions of excess contributions.

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Going Concern

FEBRUARY 23, 2024

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CPA 98

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Going Concern

AUGUST 25, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The accounting industry is in a state of transition. The influx of private equity, labor shortages, and remote/hybrid work have all impacted accounting firms to varying degrees.

tax preparation 93

tax preparation CPA payroll tax Illinois 93

Going Concern

OCTOBER 27, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. They also expressed doubt IRS would deliver on its promise to not increase audits on those making less than $400,000 per year, promising to hold IRS Commissioner Danny Werfel accountable. “My

CPA 85

CPA auditor accounting and finance audit 85

ThomsonReuters

DECEMBER 14, 2020

Three COVID-19 relief bills enacted in 2020 had wide-ranging tax implications for companies, Oaks noted—the CARES Act, the Families First Coronavirus Response Act, and the Paycheck Protection Program Flexibility Act. Business Tax Professionals appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

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