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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Shay CPA

MAY 3, 2023

For most companies, payroll makes up a huge category in the latter. 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. As a quick reminder, this is the 6.2%

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. Compliance with Tax Filings: All tax returns must be filed. What should I do?

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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.

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MyIRSRelief

MARCH 15, 2024

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. 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.

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California Tax tax return payroll 130

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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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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ThomsonReuters

APRIL 18, 2023

For business owners, payroll is complex and often their greatest expense. For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. Payroll errors are certainly a real concern, but with the right tools and resources in place, payroll services can be a growth opportunity for firms.

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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. Not yet, anyway.

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SkagitCountyTaxServices

DECEMBER 7, 2023

owner=19530343 Making time to look at numbers before January 1 allows us to help you make last-minute adjustments so your tax return works in your favor. Another of those areas is payroll reconciliation. There are a number of items to pay special attention to this month to help you prepare to run year-end payroll.

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MyIRSRelief

DECEMBER 29, 2023

Employment taxes can be a complex area for businesses, especially when it comes to Form 941, the Employer’s Quarterly Federal Tax Return. This form is used to report income taxes, social security tax, or Medicare tax withheld from employee’s paychecks, and to pay the employer’s portion of social security or Medicare tax.

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MyIRSRelief

JANUARY 2, 2023

Some common tax problems include: Failing to file a tax return: If you fail to file a tax return (1040, 1120, 1065, 941, etc.), you may be subject to penalties and interest on failure to file and on any unpaid taxes. Amending your tax returns could correct these errors.

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CPA Practice

APRIL 1, 2024

A key warning sign that businesses should be aware of are vendors that require large contingency fees and/or fail to sign the amended payroll tax returns. The AICPA has provided a number of resources to its members and the public to help them identify dishonest vendors and has strongly discouraged dealings with these ERC mills.

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CPA Practice

JANUARY 26, 2023

Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud. Use same employer identification number on all forms Employers need to make sure the employer identification number (EIN) on their wage and tax statements (Forms W-2, W-3, etc.)

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CPA Practice

FEBRUARY 12, 2024

By Katelyn Washington, Kiplinger Consumer News Service (TNS) A proposal to end federal tax on Social Security retirement benefits would provide relief for retirees as early as next year. That’s because, as the bill is worded, federal taxes on Social Security income would be eliminated beginning in 2025 (tax returns filed in early 2026).

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ThomsonReuters

APRIL 12, 2022

Looking back at the last two years and the sprinter’s pace at which COVID-19 payroll tax credit relief was enacted, payroll accountants have earned a well-deserved pat on the back! But as the dust settles on those prior 2020–2021 Form 941 payroll tax returns, undoubtedly credits were missed, and mistakes were made.

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MyIRSRelief

JULY 12, 2021

Unfiled Tax Returns. Tax deadline to file is normally April 15. Taxpayers can also file an extension if they need more time to file their returns. Filing an extension is one of the many tax debt relief services you can choose when you find yourself struggling to pay your taxes you owe in full. Medicare tax.

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Tax payroll tax tax return payroll 147

CPA Practice

SEPTEMBER 8, 2023

Background : With an FSA, a participating employee generally funds his or her account with pre-tax dollars through a salary reduction plan. Therefore, the employee saves both income tax and payroll taxes on contributions to the plan. Plus, there’s no tax on amounts withdrawn if they are used to pay for qualified expenses.

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MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. The Los Angeles County sales tax rate is 0.25%.

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MyIRSRelief

SEPTEMBER 20, 2021

. – Tax Levy – we release wage and bank levies. – Tax Audits. – Tax Appeal. – Unfiled Tax Returns – 1040, 1120, 1065. – Negotiated Tax Settlements. – Tax Liens. – Tax Planning & Tax Preparation. – Offer in Compromises.

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Ronika Khanna CPA,CA

JANUARY 21, 2022

She hadn’t filed her tax return in a few years mostly because she had one T4, figured that she didn’t owe any tax and was simply procrastinating on an unenjoyable task. Benefits of Filing a Tax Returns Receive a refund—or avoid penalties and interest! In this case you might have overpaid or underpaid your taxes.

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CPA Practice

MAY 11, 2023

At the center of the scheme, according to federal prosecutors, is former IRS agent Frank Mosley, who was also identified as a “current city of Oakland tax enforcement officer.” They then filed fake payroll tax returns with the IRS to conceal receipt of those funds, authorities allege.

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MyIRSRelief

SEPTEMBER 1, 2023

Life has a way of throwing us unexpected challenges, and for many individuals and businesses, tax problems are among the most daunting. But don’t let the weight of back taxes hold you back from financial freedom. Unfiled Tax Returns: The Silent Menace Ignoring unfiled tax returns won’t make them disappear.

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ThomsonReuters

MARCH 6, 2024

Understanding the ERC It is no secret that the Employee Retention Credit has been challenging for employers who struggle to understand complex eligibility requirements and the process to claim the tax credit, and for the IRS who continues to process a large volume of claims, many of which are dubious, despite the expiration of the credit.

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Withum

JANUARY 12, 2023

These relief provisions provide an extended due date to May 15, 2023, for disaster-affected taxpayers to file returns. Additionally, eligible taxpayers will have until May 15 to make 2022 contributions to their IRAs and health savings accounts.

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California Tax tax return payroll tax 122

MyIRSRelief

FEBRUARY 1, 2023

An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws. How to resolve employment 941 payroll taxiety problems? if you do not pay your tax debt.

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Shay CPA

OCTOBER 18, 2023

The Inflation Reduction Act of 2022 has brought some significant amendments to the R&D Tax Credit, making it more accessible and beneficial for qualified small businesses (QSBs). The Basics The R&D Tax Credit, or IRC 41, offers taxpayers a credit against income tax for qualified research expenses (QREs).

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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 2022 tax year version may include more states if the loans are not repaid. The guide also contains information on FUTA taxes.

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CPA Practice

MAY 31, 2023

For both companies, Kudsk was responsible for filing quarterly employment tax returns and collecting and paying over to the IRS payroll taxes withheld from employees’ wages. Kudsk, however, did not timely file employment tax returns or pay over withholdings to the IRS for 2014 and the last three quarters of 2015 for M.

Construction 59

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ThomsonReuters

JULY 7, 2021

In general, the federal income tax, Social Security tax, FUTA tax, Medicare tax, and Additional Medicare tax are considered employment or payroll taxes. An employer withholds these taxes from the wages of each employee and file and pay the taxes with the IRS. Payroll tax relief.

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CPA Practice

SEPTEMBER 12, 2023

Clanton was President of McCorkendale from 2006 through 2011 and was responsible for filing quarterly employment tax returns and collecting and paying federal income and Social Security and Medicare taxes withheld from employees’ wages to the IRS.

Kansas 52

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CPA Practice

SEPTEMBER 6, 2023

Clanton was President of McCorkendale from 2006 through 2011 and was responsible for filing quarterly employment tax returns and collecting and paying federal income and Social Security and Medicare taxes withheld from employees’ wages to the IRS.

Kansas 52

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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. The CAA (in December) retroactively fixed this issue.

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MyIRSRelief

APRIL 15, 2022

If you are an individual or a business taxpayer who is facing tax problems, you can end your nightmare now. Get tax relief representation and complete resolution today! Get tax relief representation and complete resolution today! Tax representation services help in Connecticut: New Haven-Milford Metropolitan Area.

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CPA Practice

JULY 23, 2023

According to court documents and statements made in court, Frank Stevens of Bow Mar, Colorado, co-owned restaurants and an oil production business, which had employees from whose paychecks he withheld income and Social Security and Medicare taxes.

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Dent Moses

JULY 6, 2022

A couple of weeks ago we covered the IRS backlog of amended payroll tax returns (941X) for employee retention credits. Now, the Treasury and IRS have responded to requests from taxpayers for relief from penalties with IR-2022-89.

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