CPA Practice

AUGUST 17, 2023

A New Jersey business owner faces a federal prison sentence after failing to pay more than $10 million in payroll taxes. Josef Neuman, 37, of Lakewood, pleaded guilty to willful failure to pay over payroll taxes, the U.S. In all, he defrauded the government of $10,884,373 in payroll taxes in 2017 and 2018.

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Accounting Insight

SEPTEMBER 1, 2023

Employment Hero is celebrating National Payroll Week by helping their partners make payroll carbon-negative. This will make payroll “carbon negative” for employers, meaning the service will not just offset the small amount of carbon involved in data storage, but take far more carbon out of the atmosphere.

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Accounting Insight

OCTOBER 2, 2023

It’s payroll. Many accountants view payroll as a burdensome necessity. Payroll isn’t just a financial responsibility – it’s a golden strategy. Payroll: More than Just Paying Salaries Think about an organisation’s team – the people who breathe life into business ideas and turn strategies into successes.

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MyIRSRelief

NOVEMBER 29, 2019

Every business that operates in the United States is responsible for reporting certain types of information to the government. One of the most important things that a business must report is certain tax information for employment payroll on a quarterly and annual basis. What are payroll/employment 940/941 taxes relief.

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Snyder

FEBRUARY 12, 2023

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. So how is payroll tax calculated? What is a payroll tax?

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ThomsonReuters

JULY 1, 2022

In our last edition of the Certified Payroll Professional Corner (CPP), we talked about penalties. As previously noted , there are many penalties that an employer may face if not in compliance with payroll rules, regulations, and laws. Payroll Guide ¶4260 goes over the Form W-2 in general. Interested in payroll topics?

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PYMNTS

FEBRUARY 1, 2021

When it comes to payroll, it may not seem that a steady, consistently timed outflow of cash to employees plays a prominent role in overall cash flow strategy. But the payroll landscape is evolving rapidly, with potentially significant implications for corporate finances. The Value Of Integration.

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ThomsonReuters

FEBRUARY 9, 2022

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 Payroll Guide for Checkpoint Edge has detailed information on unemployment for each state, the District of Columbia, and territories like the U.S.

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Patriot Software

AUGUST 26, 2022

With each payroll, you and your employees have to pay taxes. You collect and remit the money, but what are payroll taxes used for? What does the government do with that money? If you’re curious, read on. We’ve got a list of each employment tax you withhold and/or contribute and where the money goes.

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ThomsonReuters

FEBRUARY 14, 2022

Check out the Quick Reference Chart ¶17,060 which summarizes state law provisions that govern the wage payment for deceased employees. For federal withholding, see Payroll Guide ¶3820, for W-2 reporting, see Payroll Guide ¶4260 , for 1099-MISC reporting, see Payroll Guide ¶4268.

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Accounting Insight

NOVEMBER 15, 2022

One of the legacies of Liz Truss’ short term in Government could well be “Investment Zones” – areas of the country with a bevy of tax and consenting incentives to attract new business. That last one is likely to cause the most headaches for payroll. Why you might need several payroll systems.

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CPA Practice

MARCH 13, 2024

Latino payroll platform company in the United States, has launched and announced its board of advisors. This initiative underscores Trez.co’s commitment to driving national economic growth through customer first payroll, benefits, and financial solutions tailored to the unique needs of Latino businesses and employees.

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ThomsonReuters

JULY 1, 2022

In a previous edition of the Certified Payroll Professional (CPP) Corner, we talked about gross ups. In Payroll Guide ¶4115 , we discuss the IRS’s formula for completing a gross up. Interested in payroll topics? Gross ups. However, this will be on the CPP exam, so best to understand the formula and practice.

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MyIRSRelief

OCTOBER 1, 2019

If you are facing payroll tax problems, then you have a serious issue on your hands. A good starting point is understanding how payroll tax problems can begin. 941/940 Payroll Tax Employment Issues. This means having to keep track of all payroll and the appropriate taxes that must be withheld.

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Withum

OCTOBER 6, 2022

Last week, the Federal Government released guidance allowing certain federal tax filings and payments to be extended until February 15, 2023, for the victims of Hurricane Ian. The post Federal Government Extends Deadlines for Hurricane Ian Victims, States Extensions Are Unclear appeared first on Withum. Contact Us. Let’s Chat.

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SkagitCountyTaxServices

APRIL 20, 2022

What is the Best Payroll Software for Your Skagit County Small Business? The biggest thrill wasn’t in winning on Sunday but in meeting the payroll on Monday.” – Art Rooney, founder, Pittsburgh Steelers. Payroll software can take the headache out of that job, but you have to know what you need and what it can deliver.

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Accounting Insight

FEBRUARY 16, 2023

But no matter the size, with tracking and paying expenses, making payroll, setting budgets, preparing for the tax season, and more all falling under one department, you’re likely looking for ways to make managing financial processes easier and more transparent. What is payroll? Take expenses, for example.

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Inform Accounting

NOVEMBER 28, 2022

One of the controversial announcements in the mini-budget on 23 September was the abolition of the “off-payroll” rules that apply when workers are engaged via an intermediary, typically their own personal service company (PSC). For detailed guidance see: April 2021 changes to off-payroll working for clients - GOV.UK (www.gov.uk).

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Basis 365

JUNE 10, 2022

Once you have the basics down, you can manage payroll like a pro. We've put together a list of common mistakes that companies make when they start to pay their payroll. You will need to withhold tax money from salaried employees and send it to the government for income tax, social security, etc.

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ThomsonReuters

MARCH 10, 2021

Allows for the credits for paid sick and family leave to be structured as a refundable payroll tax credit against Medicare tax only (1.45%), beginning after March 31, 2021. 501(a) , including state and local governments. 501(c)(1) and exempt from tax under Code Sec. Employee Retention Credit. Unemployment Provisions.

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MyIRSRelief

MARCH 15, 2024

From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable. Whether it’s unfiled returns, unpaid taxes, payroll issues, or audit concerns, prompt action is key to finding a resolution.

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xendoo

JULY 15, 2022

Doing payroll may not be your favorite part of running a business. If you haven’t yet, the first step is to learn how to set up payroll. Then there’s all the paperwork you need to report to the government. . How to Set Up Payroll. This determines how to set up payroll. Set Your Payroll Schedule.

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PYMNTS

JULY 30, 2020

Companies and workers alike are searching for payroll solutions that are faster and more flexible, especially during this time of economic uncertainty. Around The Changing Payroll Landscape. One town government in Nova Scotia is currently conducting a pilot of the four-day work week, for example.

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CTP

MARCH 29, 2021

A government notice indicating that President Trump’s temporary payroll tax deferral will go into effect for federal employees sparked alarm from observers, who say the move may be illegal. The post Payroll Tax Deferral for Federal Employees Prompts Criticism appeared first on certifiedtaxcoach.

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PYMNTS

AUGUST 13, 2019

Amid the growing list of cybersecurity concerns businesses must keep on top of, payroll is a growing target for attackers both inside and outside the enterprise. The latest cases of payroll-related cyber incidents reveal the vulnerabilities of the financial process of compensating employees.

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LyfeAccounting

NOVEMBER 17, 2020

I missed payroll tax filing deadlines that cost me thousands of dollars. Like, literally, I paid my payroll taxes one-day late by accident, the IRS sent me a penalty for over $1,000. In this post, I’m going to fully explain the difference between payroll taxes and income taxes. Now, let’s talk about payroll taxes.

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SMBAccountant

JANUARY 5, 2024

Integration Ask if the software works well with your business's e-commerce, CRM, and payroll systems. Compliance and Security Make sure the software follows any government regulations and protects sensitive financial data. Integration streamlines data transport and can ensure accurate reconciliations between software systems.

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inDinero Tax Tips

MAY 21, 2021

If that sounds like your business, the R&D tax credit and the payroll tax offset should absolutely be part of your tax strategy. Follow along for a brief R&D credit breakdown and how it and the payroll offset work together like a perfect chocolate and vanilla swirl. What is the Payroll Tax Offset?

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CPA Practice

MARCH 26, 2024

economy, they also say the government system lacked safeguards and fell prey to widespread theft. He also claimed his company’s payroll was $1,035,091 in the previous year on an IRS tax form. Millions of government funds rolled into his bank accounts. While authorities credit the pandemic loan programs with propping up the U.S.

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PYMNTS

MARCH 5, 2020

based firm known for HR and payroll software, according to a press release. Both of those acquisitions, the release states, will allow Access Group to support businesses of any size with needs for HR and payroll-related issues. It covers people management, payroll, workforce management, recruitment, talent management and more.

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PYMNTS

SEPTEMBER 30, 2020

Within functions like human resources and payroll, digitization can empower public sector entities with employee data for more efficient talent management. To foster this environment, entities can guide their technological investments and modernization initiatives in payroll and HR to support employee needs.

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PYMNTS

FEBRUARY 27, 2020

Businesses and governments want the speed and convenience of issuing and accepting digital payments, but, at the same time, they cannot afford to alienate cash-dependent consumers. Redesigning Payroll For The Fast-Paced, On-The-Go Lives Of Gen Z. Deep Dive: The Staffing Agency Case For Payroll Cards.

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PYMNTS

DECEMBER 26, 2019

A string of underpayment cases that have emerged across Australia in recent months is raising concerns over corporates’ reliance on automated payroll and accounting platforms, the Sydney Morning Herald reported Thursday (Dec. What I’ve seen is a high level of trust in payroll solutions that thinks they will fix the problems,” added Renshaw.

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Katz,Sapper&Miller

MARCH 31, 2020

To help mitigate the economic impact of this crisis, the federal government has provided payroll relief options that businesses can and should leverage when possible, including payroll tax credits and the option to delay payment of certain payroll taxes.

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payroll payroll tax Tax Government 53

ThomsonReuters

MARCH 22, 2021

On March 22, 1765, the British government passed the Stamp Act. Shortly thereafter, colonists raised the issue of taxation without representation in protest and within a year’s time the British government repealed the Stamp Act tax. For payroll, in particular, there are a number of taxes. Keeping Up with Taxes.

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PYMNTS

APRIL 6, 2020

To do so, it’s attacking the problem of how long it takes to acquire payroll data, according to a report by CNBC. According to Plaid, payroll data is a necessary requirement that a company must have on hand in order to apply for a loan. Plaid has also been in discussions with payroll providers like ADP and Gusto.

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CPA Practice

MARCH 20, 2024

Government orders that don’t qualify Some promoters told employers they can claim the ERC if any government order was in place in their area, even if their operations weren’t affected or if they chose to suspend their business operations voluntarily. The government order must be due to the COVID-19 pandemic. This is false.

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