It’s time for post-filing tax record keeping
It’s been almost a week since Tax Day 2015. That’s why today’s Tax Form Tuesday is celebrating Form 1040. Actually, this week’s feature includes not just the actual tax return you recently sent to the Internal Revenue Service, but...
What a COVID-related payroll tax cut could mean to you now and your retirement later
The White House has dropped its push for a payroll tax cut as part of the next round of COVID-19 relief. Although Donald Trump cited Democrats’ objections to the payroll tax cut, top Senate Republicans also disliked the idea, seeing it as too expensive...
Form W-4 Employee’s Withholding Certificate Redesigned for 2020
Every employer must withhold (and later deposit) income tax from wages paid to each employee using the computational procedures and tables prescribed by the IRS. To calculate the amount of income tax to withhold, the employer must have a properly completed Form W-4...
New Form 1099-NEC (Nonemployee Compensation) for 2020
Beginning with reporting for the 2020 tax year, nonemployee compensation (NEC) will be reported in box 1 of Form 1099-NEC (Nonemployee Compensation). For 2019 and prior years, NEC is reported in box 7 of Form 1099-MISC (Miscellaneous Income). Statements to Recipients...Lorem Ipsum is simply dummy text of the printing and typesetting industry. dummy text of the printing Ltting industry.
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