Steps for Reconciling IRS Form 941 to Payroll
Most employers must report employees’ wages paid and taxes withheld plus their own share of certain payroll taxes quarterly to the IRS. Additionally, employers must report each employee’s wages and …
Federal Taxpayer Penalty Guide
Common penalties and obtaining penalty abatement from the IRS. The IRS can assess many types of penalties against taxpayers: late-filing penalties, late-payment penalties, estimated tax penalties, accuracy-related penalties, and the …
How to Calculate Employees’ Net Pay
If your payroll provider handles your payroll-processing responsibilities, you might not see the need to learn the ins and outs of calculating net pay. But imagine an employee seeking clarification …
The SECURE Act and Other 2020 Tax Changes
The SECURE Act has passed. It changes a number of important retirement plan rules. The act runs over 120 pages, so the experts will be poring over it for some …
Do You Know Your Lookback Period for Payroll Taxes?
A lookback period is the length of time that the IRS uses to measure the amount of taxes paid by an employer. The lookback period also helps the employer determine …