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Payroll Taxes › Internal Revenue Code (IRC)

Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that... more +
Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that are withheld by an employer from an employee's wages and 2) taxes paid by an employer based on the amount of an employee's wages. These taxes may be advanced income tax payments on behalf of an employee. They are also employer and employee payments to a variety of government programs, such as social security, and unemployment/disability insurance. less -
Cooley LLP

Incentive Stock Option Modifications – Key Considerations and Traps for the Unwary

Cooley LLP on

Incentive stock options (ISOs) are a form of equity compensation widely used by companies with employees who are subject to US taxes. Emerging and late-stage private companies alike frequently choose to issue ISOs because...more

Amundsen Davis LLC

IRS Issues Proposed Rules Clarifying the “No Tax On Tips” Provisions Under President Trump’s One Big Beautiful Bill

Amundsen Davis LLC on

On Friday, September 19, 2025 the Internal Revenue Service (IRS) issued proposed regulations clarifying the “no tax on tips” provisions under President Trump’s One Big Beautiful Bill Act (OBBBA). Starting January 1, 2026,...more

Proskauer - Employee Benefits & Executive...

FICA Tax: Navigating the Nonqualified Deferred Compensation Special Timing Rule

Proskauer - Employee Benefits & Executive... on

Compensation is generally subject to federal income tax and FICA tax when compensation is actually paid to an employee. However, nonqualified deferred compensation (NQDC) may be subject to FICA taxation before federal income...more

Whiteford

Employment Law Update: New Overtime Tax Law Increases Employer Recordkeeping Obligation

Whiteford on

The Administration’s “Big Beautiful Bill” includes a new overtime tax provision, broadly described as “No Tax on Overtime.” More accurately, the Bill allows an employee tax deduction of a portion of overtime payments, up to a...more

Hanson Bridgett

IRS Clarifies Income Tax Withholding and Reporting Obligations for Uncashed Retirement Checks

Hanson Bridgett on

When an employer (or the proper withholding agent, like a plan administrator) issues a retirement benefit, there is generally an obligation to withhold income tax on the payment and to report the payment on Form 1099-R....more

Saul Ewing LLP

New Provision Provides Above-The-Line Deduction for Overtime Pay

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The new tax legislation, part of the "One Big Beautiful Bill", includes a temporary tax break for overtime pay, allowing eligible workers to deduct a portion of their overtime earnings from their federal income taxes. Section...more

Ankura

The Critical Importance of Tax Due Diligence in Modern Business Transactions

Ankura on

In today's complex and ever-evolving business landscape, tax due diligence has emerged as a critical component of financial analysis and risk management in mergers, acquisitions, and other significant business transactions....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Navigating Employee Retention Credit Denials and Delays

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Employee retention credits (ERCs) have been a critical financial lifeline for businesses dealing with the effects of COVID-19. Designed to incentivize businesses to retain employees during the economic downturn caused by...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Beltway Buzz - August 2024 #2

Ogletree, Deakins, Nash, Smoak & Stewart,... on

The Beltway Buzz is a weekly update summarizing labor and employment news from inside the Beltway and clarifying how what’s happening in Washington, D.C., could impact your business....more

Foster Garvey PC

A Journey Through Subchapter S / A Review of The Not So Obvious & The Many Traps That Exist For The Unwary: Part VII –...

Foster Garvey PC on

In the S corporation arena, tax advisors generally do not focus much attention on unreasonable compensation. As we delve into the issue in this Part VII of my multi-part series on Subchapter S, it will become apparent that...more

Rivkin Radler LLP

The Trust Fund Penalty – Times May be Tough, But Don’t “Borrow” from Withheld Taxes

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It’s wonderful to be part of a successful business, especially in a strong economy. The owners are probably enjoying a more than just decent return on their investment and, in most cases, are getting along well enough. The...more

DarrowEverett LLP

How IRS Is Cracking Down on Employee Retention Tax Credit Fraud

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The Internal Revenue Service (“IRS”) has recently devoted great attention to detecting, investigating, and prosecuting fraud, particularly as it relates to the Employee Retention Tax Credit (“ERC”) post-COVID. On a webinar...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

Freeman Law

“Extreme Personal Hardship” Doesn’t Excuse Trust Fund Recovery Penalties

Freeman Law on

Trust Fund Recovery Penalties (or TFRPs) refer to the tax penalties assessed against the responsible person(s) of a business (e.g., directors, officers, etc.) that failed to collect, account for, or pay over taxes on behalf...more

Gould + Ratner LLP

The Latest COVID-19 Stimulus: Highlights of Key Tax Provisions in the American Rescue Plan Act of 2021

Gould + Ratner LLP on

The American Rescue Plan Act of 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The ARPA...more

Thompson Coburn LLP

IRS clarifies legislative changes to the employee retention tax credit

Thompson Coburn LLP on

In response to uncertainty about the implementation of the employee retention tax credit ( the “ERTC”) following a variety of revisions to the ERTC since its creation under the Coronavirus Aid, Relief, and Economic Security...more

Dickinson Wright

Three Tax Principles that HR Professionals Should Know

Dickinson Wright on

Although it might not be obvious, tax law permeates most HR responsibilities – from paying an employee, to arranging for benefit coverages, to settling employment lawsuits, and paying pensions.  Knowing a few key tax...more

Tonkon Torp LLP

Uncertain Thankfulness: A Tax Deduction Denied & PPP Loan Forgiveness

Tonkon Torp LLP on

Under the CARES Act, PPP loans given to affected borrowers were potentially eligible for forgiveness without cancellation of indebtedness income. To qualify, an affected borrower must certify that (i) “the uncertainty of...more

Bowditch & Dewey

2020 End of Year Tax Planning for Businesses

Bowditch & Dewey on

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

Nossaman LLP

On-Demand Webinar | PPP Loan Forgiveness: Employment and Tax Issues for Borrowers

Nossaman LLP on

Introducing Nossaman's Employment BUZZ webinar series! Each month, our attorneys will cover a different topic of interest to employers, including tax, insurance, intellectual property and employment issues. These "quick hit"...more

Davis Wright Tremaine LLP

Payroll Tax Deferral Guidance for Employers (Including Family Businesses)

Davis Wright Tremaine LLP on

Background - The Internal Revenue Code (the "Code") provides the Secretary of the Treasury with the authority to delay tax deadlines in times of national emergency....more

Buchalter

Executive Order Payroll Tax Deferral: Guidance and Considerations

Buchalter on

On August 8, 2020, the President of the United States issued a Presidential Memorandum directing the Secretary of the Treasury to use his authority pursuant to section 7508A of the Internal Revenue Code to defer the...more

Brooks Pierce

What Employers Should Know About Deferring Employee Payroll Tax

Brooks Pierce on

On Aug. 8, 2020, President Trump issued a memorandum calling for the Secretary of Treasury to allow for the deferral of payroll tax withholding on the employee portion of certain payroll taxes. This memorandum is separate...more

Foster Garvey PC

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

Foster Garvey PC on

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

Davis Wright Tremaine LLP

IRS Uses Few Words to Implement Proposed Payroll Tax Deferral, but Leaves Many Questions Unanswered

Davis Wright Tremaine LLP on

Background - The Internal Revenue Code (the "Code") provides the Secretary of the Treasury with the authority to delay tax deadlines in times of national emergency....more

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