The owner of a payroll company has pleaded guilty to tax evasion charges in the theft of $5.3 million in wage taxes from his clients. Defense attorney Philip Lauer said … Click to Continue »
Nevada Democrats are advancing a bill to give businesses a break on payroll taxes if they help employees pay for child care. Companies would get a discount off their annual … Click to Continue »
More than 80% of the US federal government’s budget comes from payroll and income taxes. The National Priorities Project is dedicated to helping Americans understand how that money is spent. Here’s the data for 2016: The highest individual income “top” tax rate in history was 94%; that was the rate at which any income above 200,000 was taxed in 1945, equivalent […]
U.S. residents paid Uncle Sam an average of $8,943 per person in federal income, payroll and estate taxes in 2016. A look at how the District of Columbia and the … Click to Continue »
President Donald Trump, who campaigned on a promise not to cut Social Security, is reportedly considering a plan to eliminate much of the payroll tax that funds the critical safety net program. According to the Associated Press on Monday,...Show More Summary
Capital Area Transportation Authority officials plan to fire their current auditing firm after late payroll taxes landed the authority with a $1.2 million bill.
An attack on the payroll tax. The Trump White House has found a new way to dress up the old right-wing cause of dismantling Social Security. According to an April 9 report by the Associated Press, The Trump administration and House Republicans...Show More Summary
By Deirdre Fulton / Common Dreams President Trump is reportedly considering a tax plan to eliminate much of the payroll tax that funds the critical safety net program.
President Trump’s tax reform agenda is in trouble. That’s not news, but one proposal that his team has floated as a way, ostensibly, to cut taxes on the middle class is. According to the Associated Press, they’re toying with the idea of eliminating the payroll tax, which funds Social Security and...
The Associated Press reports today on various rumors making the rounds about President Trump's tax plan, including this one: One circulating this past week would change the House Republican plan to eliminate much of the payroll tax and cut corporate tax rates. Show More Summary
I'll never forget the first time I had to file taxes as a small-business owner. Between the myriad of IRS forms, deductions, payroll and quarterly installments, I was overwhelmed. I quickly learned that the best plan of action was t...
It's safe to say that without Social Security millions of senior citizens would be struggling to pay their bills during retirement. How Social Security is funded Payroll taxes (86.4%) Interest (10.1%) Taxation of benefits (3.4%) Seniors overwhelmingly agree this needs to change Read more... Permalink | Email this | Linking Blogs | Comments
Civil and criminal employment tax violations are on the rise, and a watchdog says the IRS should crack down hard.
Payroll tax violations are serious and can mean prosecution and jail.
Payroll tax liabilities can be personal, with a 100% IRS penalty on all 'responsible persons.' You don't want to be one.
I am graphing the marginal combined federal taxes on our single earner family of four with three different combinations of tax rates: Income only Income & Payroll (the employee part of social security and medicare) Income & Pay rollShow More Summary
I have no doubt that Mika Brezinski's outrage about wiretap-gate is genuine. This morning on Morning Joe, Mika asked her panel (and Joe is absent through all of this -- counting his payroll tax windfall, I'm guessing) “If the president was lying, don’t you think at some point he ought to say, ‘I apologize, I am just an idiot?'” “Were you lying, Mr. Show More Summary
Payroll taxes are every bit as important as income taxes, if not more so. Businesses of all sizes fall into the trap of using IRS money for something else. They usually regret it.
John Visconti, the 74-year-old former CEO of Axium International, has been sentenced to two years in federal prison for defrauding the IRS by failing to report millions of dollars he embezzled from the company. U.S. District Court Judge...Show More Summary
Most folks have their income taxes, both federal and state, withheld from their paychecks. While your employer (or, in many cases, the payroll company it hires) will take care of the amount that comes out each pay period, it's up to you to make sure it's correct. Show More Summary