MyIRSRelief

AUGUST 10, 2020

It doesn’t matter whether you think you’re above the law, whether you make a mistake, whether you fail to file on time, or anything else for that matter, if you’re needing payroll tax resolution and are on the IRS’ radar they will come for you one way or another and get what they feel they are owed.

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MyIRSRelief

OCTOBER 1, 2019

If you are facing payroll tax problems, then you have a serious issue on your hands. This is especially true for small business owners and entrepreneurs who may not have the knowledge, experience, or skill set to understand how tax issues with their 940/941payroll and employment got out of hand. Now that the IRS may be involved, you will need to get the right tax firm to represent your interests during this trying time. 941/940 Payroll Tax Employment Issues.

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CapataCPA

SEPTEMBER 1, 2020

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.

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LyfeAccounting

DECEMBER 31, 2020

Well there are taxes that need to be filed and paid, and this post is going to break down all of it. For the purposes of filing and paying employer payroll taxes, I’d highly recommend using a payroll software like QuickBooks or Gusto. ?. So you have a business?

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LyfeAccounting

DECEMBER 7, 2020

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Categories of US Payroll Taxes. taxes that both employee and employer pay.

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Katz,Sapper&Miller

MARCH 23, 2020

On March 20, the IRS, the Treasury Department, and the Labor Department announced preliminary guidance (via IR 2020-57) for claiming the new payroll tax credits provided under the Families First Coronavirus Response Act.

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LyfeAccounting

NOVEMBER 17, 2020

I mean…there’s federal taxes, state taxes, sales taxes, Medicare taxes, social security, unemployment, and so on. As a business owner, understanding how to navigate taxes can be extremely overwhelming. With that said, let’s talk about taxes. 3 Tax Plan.

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MyIRSRelief

NOVEMBER 29, 2019

One of the most important things that a business must report is certain tax information for employment payroll on a quarterly and annual basis. They are required by the IRS to report the amount of 941/940 employment payroll taxes that have been either withheld from employees or what they owe to the government. If they fail to do at the prescribed time they will have a payroll tax problem. What are payroll/employment 940/941 taxes relief.

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Katz,Sapper&Miller

AUGUST 7, 2018

For many startup companies, the first several years of business can be a period of heavy research and development (R&D) activity, as the founders work to bring the business’ products or processes to market. Unfortunately, this period is also often marked by heavy expenses and minimal revenue, resulting in operating losses for the company. Even the most successful startup business may take several years before it is able to finally show a net taxable profit

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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. Blog Payroll Tax

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ThomsonReuters

FEBRUARY 12, 2021

Hello payroll professionals and welcome to the first edition of Last Week in PAYROLL. But one of the Service’s more anticipated annual publications was issued early last week – Publication 15 (Circular E) Employer’s Tax Guide.

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ThomsonReuters

DECEMBER 11, 2020

Following the enactment of the Tax Cuts and Jobs Act (TCJA) in late-December 20217, the IRS needed to significantly revise Form W-4 (Employee’s Withholding Certificate) (see Payroll Guide 4010). Uncategorized Payroll Tax Cuts and Jobs Act

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RogerRossmeisl

JULY 14, 2021

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other non-tax benefits. A legitimate job If you hire your child, you get a business tax deduction for employee wage expenses. Small Business Tax Briefs Hiring Your Children

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RogerRossmeisl

AUGUST 9, 2021

Some types of fraud are more prevalent in the construction industry, particularly payroll and billing fraud. For example, paying under-the-table cash wages to avoid paying payroll taxes could result in criminal charges and significant penalties.

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MyIRSRelief

SEPTEMBER 20, 2021

Tax Help? IRS – FTB – CDTFA – EDD tax help. . We provide specialized tax & accounting service for individuals and or businesses facing IRS or State tax problems such as: – Back Taxes . – Tax Audits. – Tax Appeal.

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RogerRossmeisl

JUNE 10, 2021

If you’re among them, make sure that these workers are properly classified for federal tax purposes. It can be complex to determine whether a worker is an independent contractor or an employee for federal income and employment tax purposes.

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PYMNTS

AUGUST 14, 2019

New Zealand tax authorities published a ruling this month that includes guidance for employers that wish to pay their staff in cryptocurrency. Tax regulators noted that businesses can use foreign exchanges to facilitate their crypto payments, and offered guidance on how to calculate PAYE taxes and levies when paying in crypto. “If But New Zealand isn’t the first to consider the potential for crypto to disrupt the payroll space.

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Bharmal&Associates

OCTOBER 23, 2020

You likely formed an S corporation to save on self-employment taxes. First, if it’s too low and you get caught by the IRS, you will pay not only income taxes and self-employment taxes on the too-low amount, but also both payroll and income tax penalties that can cost plenty.

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MyIRSRelief

JULY 12, 2021

Each year, many individual and business taxpayers end up owing the IRS hundreds of thousands of dollars due to not filing their taxes by the deadline or under paying them. Tax debt relief services offered by the IRS and state tax agencies such as FTB, EDD, CDTFA are: An installment agreement.

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RogerRossmeisl

MAY 17, 2021

As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. For example, suppose you’re a sole proprietor in the 37% tax bracket. Small Business Tax Briefs Kids on Payroll

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RogerRossmeisl

MAY 20, 2021

This means that many workers previously classified as independent contractors are now employees under California law and you must withhold California income and payroll taxes, and meet California’s minimum wage and overtime requirements.

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PYMNTS

SEPTEMBER 6, 2017

Sweden is looking to become an epicenter for entrepreneurs and hopes to entice small businesses to set up shop, thanks to tax legislation changes in the country. 5) in Reuters noted Sweden, which has its sights set on having the lowest unemployment rate in Europe by the end of the decade, is planning to cut taxes for small businesses that are hiring their first employees. Reports said legislators are also planning to lessen payroll taxes for small businesses.

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MyIRSRelief

APRIL 19, 2021

If you have not filed your tax returns, or if you owe unpaid back taxes, employment 941/940 payroll tax, or could possibly be audited, the IRS is raising the bar and hiring more revenue officers and revenue agents. Tax Relief Tax Resolution Services

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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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CapataCPA

JANUARY 20, 2021

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. Tax Planning

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PYMNTS

OCTOBER 5, 2016

The firm is rolling out its Tax Compliance Services initiative, which aims to streamline the tax filing process for companies with 1099-classified employees. The firm’s payout platform will now integrate tax form collection, 1099 form digital distribution and other tax services catered to companies that operate in the gig economy. B2B Payments B2B gig economy Hyperwallet on-demand economy payroll tax compliance What's Hot In B2B

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Withum

MARCH 29, 2021

I was also to help its owner become bankrupt and lose her house and everything she had, but for her to not have continuing liability for unpaid payroll taxes. It seems those taxes could not be extinguished in personal bankruptcy.

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RogerRossmeisl

NOVEMBER 7, 2020

it isn’t subject to income or payroll-tax withholding), it isn’t reported on the employee’s Form W-2, and receipts for expenses aren’t required. Small Business Tax Briefs Automobile Dealership CPA Firm automotive cpa Per-Diem Travel ExpensesIRS issued Notice 2020-71 which contains the special per-diem rates for taxpayers to use, after 9/30/2020, to substantiate ordinary and necessary business travel expenses.

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Katz,Sapper&Miller

JUNE 3, 2020

The Employee Retention Credit is a payroll tax credit available to eligible employers in an amount equal to 50% of qualified wages paid after March 12, 2020

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ThomsonReuters

NOVEMBER 20, 2020

Biden has said that he will support legislation that makes worker misclassification a substantive violation of law under all federal labor, employment and tax law. Biden favors an ABC test very close to the newly adopted test in California (see Payroll Guide ¶19,045 ).

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GlobalUpside

MARCH 5, 2021

Payroll complexities. The Global Upside Corporation brands serve a large customer base, addressing Client needs for global staffing, PEO, HR, accounting, payroll, tax, and compliance services.

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GlobalUpside

MARCH 3, 2021

These provisions have set-forth updated structures for tax, leave, and hiring restrictions. Australia Lowers Tax Rate and Raises Threshold. A new, lowered tax rate and raised tax threshold has been proposed by government officials in New South Wales, effective as of July 1,2020.

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SkagitCountyTaxServices

MARCH 17, 2021

In short, the ERC is a refundable tax credit on the employer share of Social Security taxes that your business pays if you’ve been impacted by local government shutdown orders related to the pandemic, but choose to keep your employees on payroll instead of laying them off.

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xendoo

JULY 20, 2020

This program is intended to provide businesses with eight weeks of cash-flow for employers that keep their staff on payroll. As a business owner, your salary is defined by the way your business is taxed. Consult with your current payroll provider to see if this is an option.

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PYMNTS

MAY 9, 2021

Department of Justice is conducting a civil probe into whether some FinTechs distributing federal Payroll Protection Program relief botched loan sizes, Reuters reported, citing numerous unnamed sources. Borrowers that maintained payrolls aren't supposed to have to pay money back.

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VetCPA

APRIL 1, 2020

The Coronavirus Aid, Relief and Economic Security Act (CARES Act or Act), which includes cash payments to taxpayers, expanded unemployment insurance, increased funding for healthcare providers, small business loans, and tax relief to businesses. While they are busy near the end of tax season, each of our members will consider accepting more veterinarians.

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DentalAccounting

APRIL 1, 2020

The Coronavirus Aid, Relief and Economic Security Act (CARES Act or Act), which includes cash payments to taxpayers, expanded unemployment insurance, increased funding for healthcare providers, small business loans, and tax relief to businesses. While they are busy near the end of tax season, each of our members will consider accepting more dental practices and independent dental contractors.

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Katz,Sapper&Miller

NOVEMBER 29, 2016

Congress, with the passage of the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), enables small businesses to use research and development credits (R&D credits) to offset payroll tax liabilities and Alternative Minimum Tax (AMT) liabilities

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FraudFiles

JULY 14, 2021

First, the documents you’ll need: Tax returns and W-2s. Make sure your have tax returns and W-2s for each year. Look at the tax returns page by page. Compare the income from employment on the tax return to what is deposited in the bank accounts.

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MyIRSRelief

JANUARY 6, 2020

Tax Problem Resolution Services. It all started with the Tea Party in Boston, when American colonists protested British taxes levied “without representation.” The IRS didn’t come into being until 1862, to handle our first national income tax, 3% of income, levied to fund the Civil War. That tax expired in 1872, but again in the early twentieth century, just before World War I, Congress passed the Sixteenth Amendment, which imposed income taxes again. Tax Day!

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MyIRSRelief

MARCH 31, 2020

Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping with the Coronavirus fallout. An additional $500 additional payment will be sent to taxpayers for each qualifying child dependent under age 17 (using the qualification rules under the Child Tax Credit). IRS will compute the rebate based on a taxpayer’s tax year 2019 return (or tax year 2018, if no 2019 return has yet been filed).

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GlobalUpside

JUNE 18, 2021

Usually, lawyers can only incorporate a business but are unable to register the newly formed business for various taxes, etc. and are surely unable to set up the payroll and HR side of things. Tax ID . Registration for payroll taxes and related matters .

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MyIRSRelief

APRIL 15, 2021

Lately, there has been a lot of talk surrounding R&D tax credits, and how they can potentially benefit large and small companies alike, regardless of which industry you happen to be involved in. Here’s a look at several things to know surrounding R&D tax credits. First off, what are R&D tax credits? R&D tax credits ( research and development tax credits ) were created back in 1981 as a means of stimulating research and development throughout North America.

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