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The Certified Payroll Professional Corner: Employment Taxes

ThomsonReuters

Summer is starting, so if you are planning to take the Certified Payroll Professional (CPP) exam during the Summer/Fall 2022 testing period, it would be a good idea to start working on those flashcards and find information for the seven main topics of the CPP test. So, what are employment taxes? The IRS and U.S.

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A Quick Guide to Payroll Tax Filings!

LyfeAccounting

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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Managing tax overpayments and repayments

ThomsonReuters

Jump to: What is an overpayment on taxes? Overpayments and repayments in the current year Overpayments and repayments in subsequent years Preventing tax overpayments What is an overpayment on taxes? In simple terms, an overpayment on taxes is paying more than what is owed.

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Top searched terms on Checkpoint Edge show a continued interest in the ERC

ThomsonReuters

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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What is IRS Form 941?

ThomsonReuters

Highlight: The IRS Form 941 is one of the most important payroll-related tax returns used by businesses to report employment taxes, including federal income tax withholding, Social Security tax, Medicare tax, and Additional Medicare tax. What is the IRS Form 941? When do businesses need to file Form 941?

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IRS Releases Draft of Publication 15 (Circular E) for 2021

ThomsonReuters

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.