MyIRSRelief

MAY 19, 2023

With this bustling economy comes a complex tax system, which can be overwhelming and confusing for many taxpayers. Whether you are a small business owner, self-employed, or an individual taxpayer, you may face tax issues such as tax audits, back taxes, and 941 payroll tax problems.

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CPA Practice

MARCH 18, 2024

The state’s Supreme Court recently upheld a controversial capital gains tax , which has been re-challenged in court and could be on the state’s ballot in November for potential repeal. Will other states, like California, implement similar initiatives involving payroll tax deductions? What is long-term care?

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Accounting Today

APRIL 16, 2024

A CPA's embezzlement turns out to be no excuse for trust fund recovery penalties.

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Shay CPA

MARCH 6, 2024

It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. Fortunately, post-Protecting Americans From Tax Hikes (PATH) Act, things have changed. your quarterly Form 941).

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Patriot Software

AUGUST 17, 2020

Tax withholding comes with the territory of being an employer. Employment taxes can be broken down into payroll taxes and income taxes. But when you hear about a payroll tax deferral, you probably want to know the exact difference between payroll tax vs. income tax.

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Patriot Software

OCTOBER 12, 2022

When it comes to payroll taxes, for-profit businesses have it pretty straightforward. For-profits pay payroll taxes. Do nonprofits pay payroll taxes? Do nonprofits pay payroll taxes? Payroll taxes are amounts withheld from your employees’ wages and paid to […] READ MORE.

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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. It is not intended to provide any tax advice.

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MyIRSRelief

AUGUST 10, 2020

Payroll tax resolution issues are amongst the most common reasons for the IRS pursuing Los Angeles or other cities, business taxpayers, or individuals whom they deem should be responsible taxpayers, which is why it’s important to ensure that you resolve any payroll 941/940 tax problems sooner, rather than later, should they arise.

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Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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Patriot Software

DECEMBER 5, 2022

You must withhold payroll taxes from employee wages and remit them to the proper agencies. Depending on the payroll tax, you must match employee contributions. But, not all payroll taxes are created equally. So, who pays payroll taxes? Is […] READ MORE.

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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. The employer is the “affected taxpayer” in this Executive Order.

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Patriot Software

MAY 19, 2021

One responsibility you have once you hire employees is withholding taxes from their paychecks. For accurate withholding, learn how to calculate payroll taxes. What are payroll taxes? When you think of payroll taxes, you might think of all […] READ MORE.

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Patriot Software

JULY 13, 2022

There are a lot of things to keep track of as a business owner, with payroll taxes being one of them. The IRS requires you to withhold payroll taxes on your employees’ earnings and also contribute payroll taxes. This process can be complicated if you aren’t prepared.

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Patriot Software

AUGUST 9, 2021

In addition to giving employees their paychecks, you also have the cost of payroll taxes. So, how much does an employer pay in payroll taxes? Keep reading to learn more about the employer cost of payroll taxes. How much does an employer pay in payroll taxes? […] READ MORE.

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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. Late deposits of payroll tax.

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Patriot Software

DECEMBER 7, 2022

How often you pay the IRS depends on your payroll tax deposit schedule. Your schedule, and thus payroll tax deposit due dates, depends on the type […] READ MORE. When you have employees, your responsibility isn’t just to pay them. You also need to pay the IRS their share, too.

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Shay CPA

MAY 3, 2023

It’s the R&D credit that the IRS will let you apply toward payroll taxes. Reducing your payroll tax liability The IRS has long offered a tax credit for increasing research activities. Fortunately, post-Protecting Americans From Tax Hikes (PATH) Act, things have changed. your quarterly Form 941).

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payroll tax payroll Tax tax return 52

CPA Practice

APRIL 22, 2024

Tax Blotter 042224 Under the trust fund recovery penalty (TFRP), a “responsible person” may be held personally liable for the full amount of an employer’s unpaid employment taxes. This issue is often contested in the courts. Not my job.

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Patriot Software

AUGUST 3, 2022

Whether or not you want to admit it, payroll taxes should be one of your top concerns. Payroll taxes generally include Social Security and Medicare. But, many states have additional taxes that employers need to deduct from employee wages. California payroll tax […] READ MORE.

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Patriot Software

SEPTEMBER 23, 2020

When you have employees, you are responsible for paying them—but not before taking out some money for payroll taxes. The IRS, Social Security Administration (SSA), and state and locality (if applicable) all require payroll tax withholding. So, what is payroll tax withholding?

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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? We’ve got a list of each employment tax you withhold and/or contribute and where the money goes. What does the government do with that money? If you’re curious, read on.

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Patriot Software

DECEMBER 28, 2020

A new type of payroll tax is coming your way in 2021. Learn all about the Eugene Community Safety Payroll tax and whether or not you need to withhold and remit it to the city. What is the Eugene Community Safety Payroll Tax? Attention Oregon employers! Specifically, attention employers in Eugene, Oregon.

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Patriot Software

JULY 20, 2022

Payroll tax in Pennsylvania is notoriously difficult, confusing, and overwhelming for new and veteran employers alike. And when it comes to payroll, you probably don’t want to waste time making preventable payroll mistakes. And, we’ve provided plenty of […] READ MORE.

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Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

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MyIRSRelief

APRIL 22, 2024

What Help is Available for 941 Employment Payroll Problems in Corona, CA? Form 941 is used by employers to report income taxes, social security tax, or Medicare tax withheld from employees’ paychecks. Problems with payroll taxes are serious and require immediate attention. What should I do?

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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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Patriot Software

FEBRUARY 12, 2020

As an employer, you’re well aware of which payroll taxes are paid by employers. You know you’re responsible for contributing to things like FICA, SUTA, and FUTA taxes. But how familiar are you with employees’ payroll tax liabilities? The post Which Payroll Taxes Are the Employee’s Responsibility?

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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. The R&D tax credit wasn’t always available to small businesses. Until 2015, the credit had been subject to renewal by Congress, making it less reliable as a tax strategy.

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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. Payroll Tax Filings: Forms That You Need. Those are forms I9 and W-4.

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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. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. Categories of US Payroll Taxes.

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MyIRSRelief

MARCH 29, 2024

Employment 941 Payroll Problems Employment 941 payroll problems, such as errors in payroll tax filings, can result in penalties and interest. Businesses in Whittier, California, must ensure accurate and timely filing of Form 941, the Employer’s Quarterly Federal Tax Return.

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MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. The EDD is responsible for administering unemployment and disability insurance, payroll tax collection, and job training/workforce services in California.

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MyIRSRelief

AUGUST 1, 2023

However, managing payroll taxes for these two distinct driver categories can be a daunting task for trucking companies. Misclassifying drivers can lead to significant payroll tax issues, penalties, and even legal disputes. Failure to provide accurate income information can result in confusion and potential disputes.

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LyfeAccounting

NOVEMBER 17, 2020

With our first business, LYFE Marketing, I remember stressing to figure out what was the best way to pay my taxes. 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. Withholding Taxes.

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CPA Practice

MAY 24, 2023

in unpaid sales and payroll taxes. The unpaid taxes had been accumulating for over a year. On May 16, the Colorado Department of Revenue posted big notices on the doors of the company’s headquarters and its three remaining restaurants announcing an asset seizure to recoup $328,592.34

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RogerRossmeisl

DECEMBER 31, 2023

In general, anything of value that you transfer to an employee is included in his or her taxable income (and, therefore, subject to income and payroll taxes) and deductible by your business. Employee gifts Many businesses want to show their employees appreciation during the holiday time.

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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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