IRS Grants More Due Date Breaks
The IRS has announced that individuals have until May 17, 2021, to meet certain deadlines that would normally fall on April 15. This follows a previous announcement from the IRS on March …
What’s the story behind estimated taxes?
The IRS requires taxpayers to pay their taxes for a given year in that year. For taxpayers who are employees of companies, their employers must withhold income tax from each …
The New Business Interest Expense Rules
The IRS released the final regulations and other guidance on the limitation on the deduction for business interest expenses amended by the CARES Act of 2020. The 2017 tax overhaul …
Leverage Your Accountant for Litigation Support
So much litigation these days is a money game that follows fraud dollars, exposes embezzlement and sets a dollar value for damages. Some accountants serve as expert witnesses to help …
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 …