ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. Next, in 1939, the Federal Unemployment Tax Act (FUTA) was passed, which resulted in an employer tax (typically, 0.6%

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Withum

NOVEMBER 17, 2022

2022 Tax Brackets and Rates. 2022 Long-Term Capital Gains Tax Bracket. Year-End Tax Strategies for Individuals. Most of the income tax proposals in the 2021 “Build Back Better” bill did not make it into the IRA. General Income Tax Planning. DEDUCTION AMOUNT: $19,400. Taxable Income Over.

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ThomsonReuters

FEBRUARY 1, 2024

Jump to: What is a reverse sales tax audit? What is a reverse sales tax audit? Correction of taxes overcharged to customers is handled a bit differently. There are many reasons why a company might overpay sales or use taxes without knowing it. What information is necessary for a reverse audit?

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xendoo

SEPTEMBER 2, 2021

Planning ahead is always a good business strategy, especially when it comes to taxes. Adopting a proactive strategy can help you stay ahead of business tax filing deadlines, avoiding the rush and the headache during tax season! . Income Tax for Individuals, Sole Proprietors, and Single-Owner LLCs. Second Quarter: June 15.

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ThomsonReuters

JULY 13, 2021

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Beginning in tax year 2020, the IRS issued a new Form 1099-NEC for business taxpayers who receive nonemployee.

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ThomsonReuters

AUGUST 18, 2022

The IRS may need to revise certain employment tax reporting forms, and the forms used to claim the qualified small business payroll tax credit for increasing research activities, after President Biden signed the Inflation Reduction Act ( H.R. Social Security tax up to the annual taxable wage base ($147,000 in 2022).

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ThomsonReuters

JUNE 14, 2021

The guidance is aimed at helping multi-state employers determine to which state wages should be reported and unemployment taxes paid. Being familiar with the DOL’s “localization of work” provisions may be helpful to employers that want to make sure wages are reported and unemployment taxes are paid to the correct state.

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ThomsonReuters

MARCH 8, 2021

The Senate version continues to include the extension of the paid sick and family leave and employee retention tax credit extensions. Citizenship and Immigration Services (USCIS) announced that it has reached the Congressionally-mandated cap on H-2B visas for temporary non-agricultural workers for the second half of the 2021 fiscal year.

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ThomsonReuters

DECEMBER 29, 2020

First, let’s start by identifying the sections of the CAA, 2021 that are most important to payroll professionals: (1) Division N – Additional Coronavirus Response and Relief (ACRR); (2) Division O – Extensions and Technical Corrections (ETC); and (3) Division EE – Taxpayer Certainty and Disaster Tax Relief (TCDTR) Act of 2020.

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payroll Non-Profits Agriculture payroll tax 118

Going Concern

SEPTEMBER 2, 2022

CHS avoids fine in SEC accounting fraud case [ Compliance Week ] A Minnesota-based agricultural cooperative settled charges levied by the Securities and Exchange Commission (SEC) that the company violated federal securities laws when it filed materially false financial statements with the agency over five years. We might even read it!

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