CPA Practice

FEBRUARY 15, 2023

The new W-4 form for 2023 is now available. Unlike the big W-4 form shakeup of 2020, there aren’t significant changes to the new form. You may not file Form W-4 with the IRS, but your payroll depends on it. By Rachel Blakely-Gray.

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income tax payroll Tax payroll tax 130

ThomsonReuters

MARCH 22, 2021

The legislation levied a direct tax on the American Colonies in an effort to pay off debts and defend new American territories won from the French in the Seven Years’ War. For payroll, in particular, there are a number of taxes. A number of those pages will directly affect payroll. Federal News.

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ThomsonReuters

JULY 7, 2021

In general, the federal income tax, Social Security tax, FUTA tax, Medicare tax, and Additional Medicare tax are considered employment or payroll taxes. An employer withholds these taxes from the wages of each employee and file and pay the taxes with the IRS. There are several IRS forms used to report these taxes.

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payroll Tax income tax payroll tax 59

Shay CPA

JANUARY 17, 2024

The beginning of a new calendar year means every business owner needs to put some thought into tax filings. By 1/31: Get W-2s and 1099s squared away You only have until the end of January to issue W-2s to your employees and 1099s to your contractors. A big change went into effect for your contractors for the 2023 tax year.

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ThomsonReuters

FEBRUARY 15, 2022

The Consumer Price Index is involved in payroll topics like minimum wage, benefits, and the federal tax brackets. If you have ever tuned in to a business news channel, you have probably heard someone mention the Consumer Price Index at some point. Alaska’s minimum wage rate did not change from $10.34 population.

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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.

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ThomsonReuters

DECEMBER 3, 2020

The IRS has issued a draft of the 2021 version of Publication 15 ((Circular E), Employer’s Tax Guide). The IRS has released Notice 2020-65 that postpones the withholding and remittance of the employee share of Social Security tax ratably between January 1, 2021, and April 30, 2021. What’s New. Aggregate Forms 941.

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