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Deferring Employee Payroll Taxes 

CapataCPA

Deferring Employee Payroll Taxes The U.S. Treasury and IRS have released the initial guidance, Notice 2020-25, to put into operation the President’s Executive Order, which allows employers to defer employee payroll taxes beginning on September 1, 2020. The employer is the “affected taxpayer” in this Executive Order.

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Infrastructure Law Sunsets Employee Retention Tax Credit Early

RogerRossmeisl

The Employee Retention Tax Credit (ERTC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. The Infrastructure Investment and Jobs Act of 2021 (IIJA 2021), which was signed by President Biden on November 15, 2021, doesn’t have many tax provisions but this one is important for some businesses.

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If You’re Hiring Independent Contractors, Make Sure They’re Properly Handled

RogerRossmeisl

If you’re among them, be careful that these workers are properly classified for federal tax purposes. The question of whether a worker is an independent contractor or an employee for federal income and employment tax purposes is a complex one. If the IRS reclassifies them as employees, it can be an expensive mistake.

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Top Remote Accountants of the Week | May 23, 2024

Going Concern

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

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Employee Retention Tax Credit (ERC)

CapataCPA

Employee Retention Tax Credit As we approach tax season, the Employee Retention Credit (ERC) may be an important credit for businesses. The ERC is a fully refundable IRS payroll tax credit (not a loan) available to employers with the potential of up to $26,000 per employee in federal payroll taxes.

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AICPA Pushes for Tougher Action on ERC Cheats

CPA Practice

The hearing included testimony from several tax practitioners, including a CPA who expressed great concern about the level of fraud in the program. Among the warning signs businesses should be wary of are vendors that require large, upfront contingency fees and those who fail to sign the amended payroll tax returns.

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Employee Retention Credit

CapataCPA

One of the provisions of the CARES Act was the Employee Retention Credit, which provides payroll tax credits available for employers, including tax exempt organizations who retained employees during. The post Employee Retention Credit appeared first on CPA firm in Orange County, CA | CAPATA.