Repaying Deferred Payroll Taxes
IRS Notice 2020-65 allowed employers to defer withholding and payment of the employee’s Social Security taxes. This deferral applied to those with less than $4,000 in wages every two weeks, …
The 6 Essential Payroll Tax Forms
If you run a business, you need to know about the following forms. Form W-2Employers must complete a Form W-2 for each employee. Employee wages, taxes withheld and other payroll …
Subcontractor vs. Independent Consultant vs. Employee
We often hear our clients or other government contractors use “subcontractor” and “independent consultant” interchangeably; however, they are not synonymous. sometimes we hear independent consultants being referred to as “1099s,” …
New DOL Guidance on Employee Leaves
The pandemic has affected both employers and employees, and everyone is trying to figure out how to work under new situations and new rules. The new DOL guidance will help …
Payroll Tax Liabilities: Know the Details
On the federal level, employer-only taxes include Social Security tax, Medicare tax, and federal unemployment (or FUTA) tax, which are administered by the Internal Revenue Service (IRS). On the state …
Can I Modify an Employee’s Timesheet?
The Fair Labor Standards Act requires that you keep accurate records of nonexempt employees’ hours worked. As a result, you developed a timekeeping system. However, there may be times when …