Payroll Tax | AccountingWEB.com

Payroll Tax Takes another Holiday

12/27/2011 - 12:53 - 3371 reads - 2 comments

Our nation's lawmakers finally agreed to a compromise extension of the so-called "payroll tax holiday." The new law signed by the president on December 23 – the Temporary Payroll Tax Cut Continuation Act of 2011 – keeps the payroll tax break alive for another two months.

Wrangling Continues over the Payroll Tax Cut

12/19/2011 - 12:15 - 1304 reads - 1 comment

This morning (December 19), the Associated Press reported that "Boehner spoke after a chaotic weekend in which Senate leaders first failed to agree on a full-year bill, then coalesced around the two-month extension that passed overwhelmingly, only to spark a revolt among GOP conservatives in the House."

Clock Still Ticking on Payroll Tax Cut Extension Deadline

12/09/2011 - 15:07 - 1139 reads

The impasse between Republicans and Democrats over the proposed payroll tax cut extension grew larger on December 8. Senate Republicans blocked the latest Democratic bill designed to extend the tax cut, and Republicans unveiled their own plan to lengthen the payroll tax holiday.

Thomson Reuters User Conference Sets the Right Tone for Learning, Innovation

11/07/2011 - 00:44 - 1414 reads

Over 800 members of the Thomson Reuters tax and accounting community gathered in San Diego last week to learn about the latest innovations in their software, experiment with new tools, and connect with peers, colleagues, and members of the Thomson Reuters staff.

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Your Social Security Check Is NOT in the Mail

10/13/2011 - 13:45 - 2651 reads - 1 comment

Do you have clients who still receive their Social Security checks in the mail? Mail carriers won't be dropping them in your clients' mailboxes in the near future.

IRS Eases Up on Worker Misclassifications

10/07/2011 - 08:38 - 2943 reads

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The Internal Revenue Service is extending an olive branch to employers that may have misclassified "employees" as "independent contractors."

Recap of tax winners and losers in new jobs bill

09/29/2011 - 10:48 - 4204 reads

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President Obama has proposed a number of significant tax changes in the American Jobs Act of 2011, including payroll tax cuts, tax credits to encourage hiring, extension of the 100 percent bonus depreciation tax break, and several revenue-raisers.

Hiring teens to work for a business – don't take shortcuts

08/31/2011 - 22:02 - 2591 reads

If your business clients need extra help, you might suggest they hire their teenage children to pitch in after school or on weekends. This strategy may result in tax savings and other potential benefits if the children are treated as official employees.

Will the payroll tax holiday be extended?

08/19/2011 - 15:22 - 3456 reads - 3 comments

President Obama doesn't want the "payroll tax holiday" for workers to end. The administration is calling for an extension of the 2 percent payroll tax break as a way to reinvigorate the economy.

IRS wants comments on employer provisions of Affordable Care Act

05/03/2011 - 22:15 - 2336 reads

The Treasury Department and IRS have requested public comment on issues relating to the shared responsibility provisions included in the Affordable Care Act.