LyfeAccounting

DECEMBER 31, 2020

For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. These programs completely automate the process of calculating and filing your payroll taxes. Payroll Tax Filings: Forms That You Need. Those are forms I9 and W-4.

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MyIRSRelief

AUGUST 1, 2023

Trucking companies form the backbone of the transportation industry, ensuring that goods are delivered efficiently and promptly across the country. However, managing payroll taxes for these two distinct driver categories can be a daunting task for trucking companies.

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ThomsonReuters

MARCH 6, 2024

So, what are users searching for this tax season? Because the ERC expired for most employers on September 30, 2021, the credit is claimed by submitting an amended employment tax return on Form 941-X. However, Form 941-X may currently only be submitted by paper, increasing processing times. (It

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ThomsonReuters

APRIL 9, 2021

Employers were reimbursed with a payroll tax credit or a refund if the cost exceeded their tax liability. Credits were claimed through Form 941, the quarterly employment tax return. What is the COBRA premium subsidy period? What are the new notice requirements for the subsidy? in February. Who is eligible?

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LyfeAccounting

DECEMBER 7, 2020

Today, we’re going to be deep-diving into US payroll taxes. My promise to you is that any question you have about payroll taxes will be answered and the high-level details you need to know about payroll taxes will be shared. Categories of US Payroll Taxes. Types of US Payroll Taxes. So let’s get started!

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ThomsonReuters

MARCH 22, 2021

For payroll, in particular, there are a number of taxes. What are the due dates? What is the penalty if the filings or payments might be late? A number of those pages will directly affect payroll. What can help with this daunting task of keeping up with taxes? Then, there’s how to pay and file these taxes.

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inDinero Tax Tips

JANUARY 3, 2023

The purpose of the employee retention tax credit (ERC) was to encourage employers to keep employees on the payroll due to the effects of the coronavirus outbreak. Check out these other blogs about taxes: Important Info for Filing Taxes This Year. Info About Audits. Employees vs. Independent Contractors. C-Corps vs. S-Corps.

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inDinero Tax Tips

JANUARY 3, 2023

The purpose of the employee retention tax credit (ERC) was to encourage employers to keep employees on the payroll due to the effects of the coronavirus outbreak. Originally employers reported the qualified wages and claimed the credit on their federal employment tax returns, usually Form 941.

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LyfeAccounting

NOVEMBER 4, 2020

So today I’m going to break down the forms and filings you need to have in place in order to avoid IRS penalties and keep your business compliant. First, it’s important to understand that there are different business structures and your business structure will determine the forms and taxes you’ll have to pay. Sound good? Partnership.

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ThomsonReuters

JANUARY 9, 2024

“What happens when the IRS AI finds [an issue] because it’s 1.2 “What happens when the IRS AI finds [an issue] because it’s 1.2 He further noted that the AI is coming up with targeted questions about what the IRS should be asking and as a result, “it let them do better issue selection faster.”

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ThomsonReuters

DECEMBER 3, 2020

The draft addresses issues such as qualified leave wages for 2020 paid in 2021, the impact of the 2020 COVID-19 related tax credits on the 2021 look-back period and provides further clarification on lock-in letters and invalid W-4 forms. What’s New. Aggregate Forms 941. Background. Employer Identification Number.

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ThomsonReuters

AUGUST 2, 2021

Now let’s go over some of the more important payroll stories from the past week. . IRS posts Form 941-X draft. Form 941 has been revised several times since the start of the pandemic due to COVID-19 tax credits available to employers. The latest version of Form 941-X is from October 2020.

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ThomsonReuters

MARCH 1, 2021

This makes a business’s payroll department very important since it is typically an employer’s greatest expense. And arguably the most important (and challenging) time to be a payroll professional, is during the period known as “year-end.” This can make March an interesting month for payroll professionals.

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