Payroll Tax Cut Extended New Form 941 Released
President Barack Obama signed into law the Middle Class Tax Relief and Job Creation Act of 2012. The IRS released a revised Form 941 to reflect the extended payroll tax cut
Published on May 01, 2012
The HIRE Act of 2010
In March 2010, Congress enacted the Hiring Incentives to Restore Employment Act, which includes provisions to encourage employers to hire new employees and to make new capital investments. This article discusses these new incentives, as well as the revenue-raising provisions included in the act to offset their cost.
Published on December 01, 2010
Lack of Control Does Not Except Owners from Trust Fund Recovery Penalty
The owners of a company who had delegated payroll functions to a separate payroll company they owned but did not operate were liable for trust fund recovery penalties because they were responsible persons both before and after the...
Published on June 01, 2011
Volunteer Board President Responsible Person for Payroll Taxes
Taxpayer who served (without compensation) as the president of a daycare center was responsible person under Sec. 6672.
Published on January 01, 2009
HIRE Act 2010
On April 7, 2010, the IRS issued additional guidance, in the form of frequently asked questions (FAQ), on the 2010 payroll tax exemption and the 2011 retention tax credit. You can review these frequently asked questions (FAQs) on the IRS website under HIRE Act: Questions and Answers for Employers. These...
Published on May 27, 2010
Pilot Program Tests EFTPS Interface with QuickBooks
Treasury has been testing an interface between Intuit’s QuickBooks Payroll product and the electronic federal tax payment system (EFTPS
Published on June 01, 2008
Congress Enacts Hiring Incentives Act with Tax Provisions
The Hiring Incentives to Restore Employment Act contains several tax items, the biggest of which is a payroll tax credit for employers who hire workers who have been unemployed for at least 60 days and who are not replacement hires
Published on May 01, 2010
A Trust Fund Recovery Penalty Primer
This item discusses the basic mechanics of the trust fund recovery penalty, what qualifies someone as responsible for payroll taxes, and what constitutes willfulness
Published on October 01, 2012
All Aboard The Impact of the New York State MTA Payroll Tax on Alternative Investment Fund Managers
Assembly Bill A08180, establishing the Metropolitan Commuter Transportation Mobility Tax. The bill imposes a new tax on employers and self-employed individuals engaging in business within the 12 counties of the Metropolitan Commuter Transportation District.
Published on December 01, 2009
Is Your Contractor Really Independent
This item provides an overview of the factors examined by the IRS and offers insight into how to better secure independent contractor status.
Published on October 01, 2010