President Signs Payroll Tax Cut Extension Bill New Form 941 Released
President Barack Obama signed into law the Middle Class Tax Relief and Job Creation Act of 2012 and the IRS released a revised Form 941to reflect the extended payroll tax cut
Published on February 23, 2012
Congress Passes Payroll Tax Cut Extension
On Feb. 17, the House of Representatives and the Senate both passed a bill that will extend the reduced 4.2% Social Security tax rate through the end of the year.
Published on February 21, 2012
Congress Passes Temporary Payroll Tax Cut Extension
The Senate and the House of Representatives on December 23 both agreed by unanimous consent to extend the reduced rate, and President Barack Obama signed the bill the same day.
Published on December 27, 2011
Many Tax Provisions Set to Expire at Year End
Congress’ negotiations over an extension of the reduced payroll tax rate have garnered a lot of media attention, but many other tax items are scheduled to expire at the end of the year, and any future extension of...
Published on January 07, 2012
IRS Releases FAQs on Implementing the Payroll Tax Exemption in HIRE Act
...On April 1st the IRS released FAQs about the payroll tax exemption and qualified employers. The FAQs and the responses would seem to indicate that the IRS is taking a liberal position with regards to implementing these rules and...
Published on April 16, 2010
February 24, 2012 Tax E-Alert - Top News, Filing and Disclosure Issues, IRS News and more
This Newsletter contains the following articles: Payroll Tax Cut, Form 1099K Reporting Requirements, The President’s Framework for Business Tax Reform, Electronic Partner K-1, UTP, Form 8938, FBAR, FFIs, Portability, Alternate Valuation Method, Power of...
Published on February 27, 2012
2013-01-25TaxEalert Court Strikes Down RTRP program, New Sec. 7216 Guidance, IRS 2013 Inflation Adjustments, New Simplif...
In this issue Court Strikes Down RTRP program, New Sec 7216 Guidance, IRS 2013 Inflation Adjustments, New Simplified Home Office Rules, Proposed Regs on Health Insurance "Play or Pay" Rules, ATRA Changes to Monthly Transit Benefits and more..
Published on April 11, 2014
IRS Posts Revised Form 941 and Instructions for Claiming New Hire Payroll Tax Exemption
The IRS posted a new version of Form 941, Employer’s Quarterly Federal Tax Return, and its instructions for claiming the special payroll tax exemption that applies to new workers hired in 2010
Published on January 28, 2011
IRS Offers Voluntary Employee Reclassification Program
Employers may reclassify independent contractors as employees and limit the resulting federal payroll taxes for their most recent tax year, plus avoid related penalties and interest for prior years, under an IRS program announced September 21
Published on September 22, 2011
Presidents Jobs Bill Contains Many Tax Proposals
The president submitted his American Jobs Act to Congress on September 12, and among its provisions are several tax items, including a temporary payroll tax cut, a limit on itemized deductions for certain high-income taxpayers, and a proposal to tax carried interests as ordinary income rather than capital gains
Published on September 13, 2011