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Our tax firm assists, helps and represents taxpayers facing tax problems such as unfiled taxreturns, unpaid delinquent back taxes, IRS and state audits , payroll 941/940 problems, tax levies, liens, garnishments and other collection issues. Get tax relief representation and complete resolution today!
The extended deadlines are limited to flood-damaged areas of Fairfield, New Haven and Litchfield counties in Connecticut, as well as Suffolk County in New York that sustained damage in the historic Aug. Also delayed will be the deadlines for quarterly payroll and excise taxreturns normally due at the end of October and January.
(TNS) The IRS announced Monday that tax relief for individuals and businesses in flood-stricken parts of Connecticut would be made available. IRS officials announced the agency would extend its April 15 filing deadline for those taxpayers, who now have until June 17, 2024 to submit taxreturns and make tax payments.
Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payrolltax complications. Multi-state payrolltax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.
Here’s something you probably hadn’t thought about when it was announced last week we’re getting our first American pope: Does Leo XIV have to pay taxes ? The United States generally requires all citizens to file an annual taxreturn, even those who live out of the country.
The tax credit can also carry over for up to 20 years, so even if you don’t have a federal income tax liability this year , then it is still well worth investigating your eligibility for the R&D tax credit. Does Your Business Qualify for the PayrollTax Offset? Does Your Business Have a Qualified Purpose?
Employers and payroll professionals face a complex web of challenges while managing remote and hybrid work arrangements, particularly concerning state income tax withholding and compliance with varying state labor laws. And there are more than just tax challenges an employer may face when employees work remotely.
Each state gets to decide what matters most — your payroll, property, or sales — and in what ratio to account for them. This can make calculating state income tax complex, particularly if you do business in multiple states. A single sales factor formula , which bases taxes solely on a company’s sales within the state.
For tax purposes, a payment generally applies first to stated interest that remains unpaid as of the date the payment is due, second to any loan origination fees allocable to the payment, third to any capitalized interest that remains unpaid as of the date the payment is due, and fourth to the outstanding principal.
Now, let’s take a look at this past week in payroll and go over a few of the more interesting stories buzzing about in the industry. The legislation comes with another stimulus payment and a number of other provisions that are payroll-related. The first quarter of 2021 is nearly finished. Federal News. On March 11, 2021, the U.S.
Part 2 of this blogpost explains how prevalent payroll is in our daily lives with a focus on key issues in 2022, including unemployment, disaster relief, paid sick leave, and international. The 2022 tax year version may include more states if the loans are not repaid. The guide also contains information on FUTA taxes.
Although it is possible to automate payroll systems to account for these minimum wage increases, it is a good idea for payroll professionals to be aware of these changes to avoid the possibility of underpaying employees. Now let’s go over some federal and state payroll stories from the past week. This includes withholding taxes.
Perkins chose to challenge and made changes in many ways for women but also for the payroll professional. Minimum wage and overtime laws, unemployment and Social Security are but some of her contributions that almost every payroll professional is familiar with. Tax relief for storm victims. Federal News. Senate passes $1.9
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