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.

payroll 140

payroll payroll tax Tax income tax 140

MyIRSRelief

JANUARY 16, 2023

When it comes to tax season, many people are faced with the decision of whether to prepare their own taxes or use an income tax preparation service. While it may seem like an added expense, there are many benefits to using a professional tax preparation service that make it well worth the cost.

tax preparation 130

tax preparation income tax Tax Real Estate 130

MyIRSRelief

OCTOBER 11, 2024

This article will delve into the various tax services offered by Enrolled Agents, including personal tax preparation, business tax preparation, personal tax planning, business tax planning, IRS and state tax audit representation, back tax help and resolution, and 941 payroll tax problem resolution.

tax services 130

tax services payroll tax Tax tax preparation 130

MyIRSRelief

AUGUST 1, 2022

According to the most up-to-date US Tax Code, all US-based business employers are required to file employment 941 / 940 Payroll Tax forms with the IRS every quarter and year-end at a prescribed date. These tax professionals can be your best friend when it comes to dealing directly with the IRS. Medicare tax.

payroll tax 130

payroll tax payroll Tax income tax 130

CPA Practice

JULY 12, 2023

Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemployment insurance) and SIT (state income tax) and how they affect your clients’ businesses. Some states require employers to pay additional payroll taxes.

income tax 98

income tax Tax South Dakota Alaska 98

MyIRSRelief

JANUARY 3, 2025

Understanding and managing payroll taxes, particularly through Form 941, is a critical but often misunderstood part of running a business. This form, which employers must file quarterly, reports withheld income taxes, as well as Social Security and Medicare taxes for employees. The Pitfalls of 941 1.

payroll tax 130

payroll tax payroll Tax income tax 130

Patriot Software

FEBRUARY 8, 2024

Payroll software makes paying employees a breeze by calculating federal, state, and local taxes. If you’ve decided you want to use software to run payroll, you can put away your calculator and income tax withholding tables (hooray!). But, do you know how to choose a payroll service?

payroll 111

payroll income tax Tax payroll tax 111

Patriot Software

OCTOBER 11, 2022

Each state’s income taxes are different. Some states have low taxes, some have high taxes, and some states don’t have income taxes at all.

income tax 105

income tax Tax payroll 105

Withum

MARCH 31, 2021

The top income tax rates have varied from 2% to 94% since the first United States income tax was instituted in 1862. Right now the top rate is 37%.

income tax 98

income tax Tax payroll 98

MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

payroll tax 147

payroll tax payroll audit Tax 147

CPA Practice

APRIL 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. By Nellie Akalp. for both employees and employers.

payroll tax 110

payroll tax West Virginia payroll cpas 110

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.

New York 147

New York payroll tax payroll audit 147

Patriot Software

JANUARY 13, 2020

Like past years, the IRS released changes to the income tax withholding tables for 2020. In addition to new wage brackets, there are significant changes to how employers will handle tax withholding. These changes are in response to the Tax Cuts and Jobs Act of 2017. When you have employees, you need to stay on […].

income tax 111

income tax Tax payroll 111

Patriot Software

DECEMBER 15, 2022

Arizona employers, you may know that Senate Bill 1828 substantially reduced the state’s income taxes starting with the 2022 tax year. But did you also know that it requires employer action for the 2023 tax year? You must now give all employees—not just new hires—a new AZ state income tax form.

income tax 98

income tax Arizona Tax payroll tax 98

Patriot Software

DECEMBER 15, 2022

Withholding federal income tax from employee wages is a necessary (but tricky) part of running payroll. There is no standard amount you withhold from employee wages for federal income taxes. Instead, tax amounts are determined by factors like pay, Form W-4 withholding information, and filing status.

payroll 98

payroll income tax Tax payroll tax 98

ThomsonReuters

MAY 6, 2022

The Spring 2022 Certified Payroll Professional (CPP) exam testing period ended a few weeks ago on April 16, 2022. Thoughts and tips from a payroll pro. Recently, the Checkpoint payroll editorial team had the pleasure to ask American Payroll Association (APA) Board of Directors member James Paille, CPP, some questions about the exam.

payroll 95

payroll income tax Agriculture payroll tax 95

CPA Practice

NOVEMBER 10, 2024

As healthcare enrollment and renewal season continues, the Internal Revenue Service is reminding taxpayers that if they use flexible spending accounts (FSAs), they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. If the plan allows, the employer may also contribute to an employee’s FSA.

Healthcare 116

Healthcare income tax payroll Tax 116

Patriot Software

APRIL 26, 2021

You pay some employment taxes (e.g., unemployment), while others are taxes you deduct from your employees’ wages and pay on their behalf. One of the taxes you must withhold is federal income tax. So, what is it, and […] READ MORE.

income tax 98

income tax Tax payroll 98

Withum

APRIL 14, 2025

Lower Self-Employment Taxes: Shareholders only pay self-employment taxes on their salaries, not on distributions. Payroll Requirements: Shareholders who work for the business must pay themselves a reasonable salary. Payroll Requirements: Shareholders who work for the business must pay themselves a reasonable salary.

tax return 80

tax return corporation tax payroll income tax 80

ThomsonReuters

JUNE 29, 2022

Summer is starting, so if you are planning to take the Certified Payroll Professional (CPP) exam during the Summer/Fall 2022 testing period, it would be a good idea to start working on those flashcards and find information for the seven main topics of the CPP test. This CPP quiz question will be on employment taxes. The IRS and U.S.

payroll 97

payroll Tax tax return income tax 97

Patriot Software

MARCH 10, 2023

If so, you might have heard about House Bill 2526, a 2023 law that significantly cut individual income tax rates. As a result, your West Virginia income tax withholding might look a little different. Are you an employer in West Virginia? In this article, we’ll go over: What compensation is subject to withholding?

West Virginia 98

West Virginia Virginia income tax Tax 98

ThomsonReuters

JULY 13, 2021

The IRS requires the payer of certain income payments to be reported on information returns (e.g., Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Federal News.

payroll 98

payroll income tax Vermont Iowa 98

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.

payroll tax 98

payroll tax payroll Rhode Island South Dakota 98

ThomsonReuters

JULY 1, 2022

In our last edition of the Certified Payroll Professional ( CPP ) Corner , we talked about the regular rate calculation for overtime purposes. Payroll Guide ¶18,022 contains a DOL table that can be used to compute overtime on different types of pay that includes commissions. Regular rate of pay for overtime. The answer is “d.

payroll 85

payroll income tax Tax Start-ups 85

Patriot Software

OCTOBER 5, 2022

Most of us would agree with the following statement: Employee wages are taxed federally and at the state level. Some employees can state income tax exemption. We all know that taxes can be complicated. This guide will cover everything you need to know about claiming tax exemptions on state […] READ MORE.

income tax 98

income tax Tax payroll 98

ThomsonReuters

AUGUST 19, 2021

Several have asked about making HSA contributions on a pre-tax basis so they can receive income tax savings every payroll period (instead of waiting until they file their tax returns) and avoid paying FICA taxes on those contributions. Our company could also save its share of FICA taxes on the contributions.

payroll 105

payroll Tax income tax tax return 105

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. 100% – 29.65% (7.65% + 22%, the federal tax withholding rate for bonuses) = 70.35%. Interested in payroll topics? Gross ups.

payroll 83

payroll income tax Legal Tax 83

ThomsonReuters

FEBRUARY 15, 2022

The Consumer Price Index is involved in payroll topics like minimum wage, benefits, and the federal tax brackets. For the purposes of payroll, the CPI is important for topics such as minimum wage and benefits. This is important to employers for payroll because there are a lot of minimum wage rate changes to keep up with.

payroll 98

payroll Alaska income tax Tax 98

CPA Practice

OCTOBER 22, 2024

In this white paper, we break down the key federal payroll laws, explore important compliance insights, highlight the role of technology, and provide practical tips for maintaining compliance. federal payroll compliance is an ongoing process that requires vigilance and dedication. Fill out the form below to access this resource.

payroll 52

payroll Rhode Island West Virginia South Dakota 52

Xero

APRIL 23, 2025

Weve popped the schedule below, but you can expect sessions on using the right tech to do more of what you love, getting ready for Making Tax Digital for Income Tax (MTD for IT), payment solutions that boost your cash flow, and integrating your tools for a smoother practice workflow.

income tax 52

income tax payroll Tax Education 52

Bharmal&Associates

OCTOBER 23, 2020

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. Getting the S corporation salary right is important. Planning note.

payroll tax 147

payroll tax payroll income tax cpas 147

Withum

JULY 28, 2023

Enacted on July 21, 2023, New Jersey A4694 creates a “Convenience of Employer” rule, affecting both employers and employees for payroll tax reporting purposes. Let’s Talk It is vital that businesses review their payroll tax withholding tax policies as remote work continues to be commonplace.

New Jersey 94

New Jersey payroll tax payroll Tax 94

Withum

FEBRUARY 27, 2025

IRS-CI is the law enforcement arm of the IRS tasked with investigating violations of income tax, money laundering, and Bank Secrecy Act laws. Its the only federal agency that dedicates 100% of investigative time to financial investigations and has sole authority to investigate violations of US income tax laws.

income tax 76

income tax Tax accounting courses accountancy courses 76

Patriot Software

OCTOBER 3, 2022

Governor Hutchinson recently signed legislation to immediately lower the state’s top individual tax rate and provide tax credits to low- and middle-income taxpayers. And as an employer, you need to know how these changes impact your payroll withholding. Read on about this recent Arkansas inflation relief.

Arkansas 98

Arkansas income tax Tax payroll 98

CPA Practice

FEBRUARY 15, 2023

You may not file Form W-4 with the IRS, but your payroll depends on it. Employers use Form W-4 to determine how much to withhold from an employee’s gross wages for federal income tax. The new IRS W-4 complements the changes to the tax law that took effect in 2018. Continue reading at the Patriot Software payroll blog.

income tax 130

income tax payroll Tax payroll tax 130

TaxConnex

MARCH 19, 2024

What is the latest word on uniform sales taxes globally? national sales proposal is The FairTax Act, aimed to replace major sources of federal revenue such as income taxes, estate and gift taxes, capital gains and payroll tax. 25 years and counting One recent U.S. It would also do away with the IRS.

Tax 249

Tax Sales payroll tax income tax 249

ThomsonReuters

JUNE 14, 2021

The Iowa legislature passed a significant tax bill modifying the state’s income tax laws. The bill would reduce the number of tax brackets to four (currently, there are nine tax brackets) with new rates, effective beginning in 2023. Employer blood donation credit enacted.

payroll 98

payroll Missouri Virginia Delaware 98