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Income Taxes › Internal Revenue Service › Payroll Taxes

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Bowditch & Dewey

Update Your 2024 Tax Withholding to Avoid Year-End Surprises

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Now that the 2023 tax filing season is underway, many taxpayers are having an unpleasant surprise when they file their tax return this year and find out they are getting a much smaller refund than they were expecting, or...more

Foley & Lardner LLP

Cos. Should Heed IRS Warnings About Employee Tax Credit

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For most businesses, turning the calendar to 2023 meant putting the pandemic and any of its tax-related effects further in the rearview mirror. One notable exception, however, is the employee retention credit, or ERC,...more

Pillsbury Winthrop Shaw Pittman LLP

Don’t Let Bank Uncertainty Delay Payroll: Considerations for Employers

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With bank uncertainty making headlines, we answer employers’ most frequently asked questions about the consequences of payroll delays, strategies for mitigating risk and more. ...more

Morgan Lewis

Uk to Repeal Off-payroll Working (Ir35) Rules

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The UK government’s “Growth Plan” (or “mini-budget”), delivered on 23 September, announced that the recent changes to the United Kingdom’s off-payroll working rules will be repealed with effect from April 2023....more

Bowditch & Dewey

Update Your Tax Withholdings to Avoid Year-End Surprises

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During the 2022 tax filing season, many taxpayers had an unpleasant surprise when they filed their tax return and found out they were getting a much smaller refund than they were expecting, or worse, had a balance due....more

Freeman Law

Tax Court in Brief | Caldwell v. Commissioner | Employer Disability Compensation is Taxable Income to Employee

Freeman Law on

Tax Litigation: The Week of May 16th, 2022, through May 20th, 2022 Ibrahim v. Commissioner, TC Summary Opin. 2022-7| May 16, 2022 | Weiler, J. | Dkt. No. 10750-20S Caldwell v. Comm’r, T.C. Memo 2022-51 | May 20, 2022 |...more

Morgan Lewis

Don’t Pay Twice: Monitor Payment of Cancelled, Reissued Qualified Plan Distributions

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Cancelled and reissued qualified plan distribution checks, particularly to decedents, should be monitored for payment in light of the Internal Revenue Service’s repeated refusal to repay withholding to payor plans. If a Form...more

Morgan Lewis

Resolving Erroneous Payroll Tax and Information Return Reporting Penalties with the IRS

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Some taxpayers are receiving automatically generated IRS notices of underpayments and penalties with respect to Form W-2 income tax and FICA withholdings, unemployment taxes, and backup withholding, as well as other year-end...more

Freeman Law

Reliance on a Third Party as a Defense in Section 7202 Payroll Cases

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Section 7202 of the Code makes it a felony for any person to willfully fail to collect and pay over payroll taxes to the IRS.  Put simply, a taxpayer may be subject to jail time if the government merely proves that the...more

Eversheds Sutherland (US) LLP

Connecticut proposes digital advertising services tax and employee-elective wage compensation tax on employers

Eversheds Sutherland (US) LLP on

On April 14, 2021, the Connecticut General Assembly’s Joint Committee on Finance Revenue and Bonding introduced SB1106. The bill would establish the “Connecticut Equitable Investment Fund,” which would be funded by, among...more

Brooks Pierce

Federal Income Tax Changes in the Consolidated Appropriations Act of 2021

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The Consolidated Appropriations Act of 2021, enacted late last year, includes several tax related changes and incentives affecting businesses. Congress overruled guidance from the Internal Revenue Service to provide that...more

Bowditch & Dewey

2020 End of Year Tax Planning for Businesses

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As the 2020 year draws to a close, businesses should review the tax-related provisions adopted in the CARES Act and related IRS guidance with their tax advisers: EMPLOYER REFUNDABLE CREDIT AND PAYROLL TAX DEFERRAL: -...more

Freeman Law

Recent IRS Cryptocurrency Memorandum: Surprise, Surprise, It’s Still Taxable

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As tax time approaches for many, taxpayers and tax professionals alike are engaging in the annual ritual of gathering their cryptocurrency transactions and seeking out the latest and greatest guidance from the IRS on the...more

Ruder Ware

New Guidance Regarding Deferral of Withholding of Employees’ Social Security Taxes

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On August 8, 2020, President Donald Trump issued an executive order titled “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster.” The order directed the Secretary of the Treasury to use...more

Foster Garvey PC

Potential Payroll Tax Deferral Is Available – Employers Must Understand the Program and Use Extreme Caution Before Blindly Jumping...

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On August 8, 2020, President Trump issued an executive order, directing the U.S. Treasury to grant employers the ability to defer the withholding, deposit and payment of certain payroll taxes as further COVID-19 tax relief....more

Bowditch & Dewey

IRS issues guidance on Social Security tax deferral

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On August 28, the IRS issued Notice 2020-65 to provide guidance on the President’s decision to allow deferral of the employee portion of Social Security taxes owing for the rest of 2020 for employees earning up to $104,000...more

Partridge Snow & Hahn LLP

Employers Have Little Incentive to Implement Social Security Tax Deferral Under New IRS Released Guidance

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On Friday August 28th the IRS issued limited guidance on the payroll tax deferral that was part of President Trump’s August 8th executive order. Under IRS Notice 2020-65 (the “Notice”), employers are not required to withhold...more

Farella Braun + Martel LLP

Guidance on Directive to Defer Payroll Tax Obligations Leaves Unanswered Questions

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On August 8, 2020, the President directed the Secretary of the Treasury to authorize the deferment of certain payroll tax withholding, depositing, and payment obligations otherwise incurred on wages and compensation paid...more

Foster Garvey PC

The Worlds of Sports and Tax Law Intersect During the COVID-19 Pandemic

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During these trying times, especially with stay-at-home orders still in effect in most states, it is difficult not to over-focus on the uncertainty that lies ahead. Hopefully, we can find healthy distractions to refocus our...more

Lowenstein Sandler LLP

Updates on Tax Deadlines and Key Tax Provisions of the CARES Act

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Over recent days, the Internal Revenue Service has extended certain tax filing and payment deadlines and issued guidance on some provisions of the recently-enacted Coronavirus Aid, Relief, and Economic Security Act (the CARES...more

Akin Gump Strauss Hauer & Feld LLP

CARES Act Summary – Tax

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On March 25, 2020, the U.S. Senate released final text of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748) to provide emergency economic assistance to those affected by the novel coronavirus...more

Rivkin Radler LLP

IRS Provides Answers to FAQs Regarding COVID-19 Relief

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In an effort to provide as much timely guidance as possible, the IRS has created a Frequently Asked Questions (FAQs) site to address taxpayer questions and concerns with respect to recently promulgated Notice 2020-18. The...more

Akerman LLP

Federal Government Responds To Coronavirus with Tax Measures

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The federal government has enacted two tax measures to combat the financial downturn resulting from the coronavirus pandemic. The President signed into law a bill that includes a 100 percent payroll tax credit for certain...more

Proskauer - Tax Talks

Coronavirus: Recent Tax-Related Developments

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Possible Tax Filing and Payment Extension. At a House subcommittee meeting yesterday, March 11, 2020, Treasury Secretary Steven Mnuchin announced that the Treasury Department is considering extending the deadline for certain...more

Burr & Forman

The New Section 199A 20% Profit Deduction for Pass-Through Businesses: A Case Study: Court Reporters

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Congress enacted the new Section 199A 20% profit deduction for the owners of pass-through businesses, and which include Subchapter S corporations, LLCs, sole proprietorships, and even certain trusts. Section 199A is intended...more

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