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
A Nevada lawmaker has revived a proposal to give businesses a break on payroll taxes if they help employees pay for child care. Sen. Pat Spearman isn't giving up on … Click to Continue »
We could spend all day wondering why MSNBC has Hugh Hewitt on their payroll. My theory is he makes the billionaire friends of Andy Lack and Phil Griffin think about their tax cuts some more. After the so-called president read some words...Show More Summary
Two city council members have proposed an alternative plan that claims to offer workers the same benefits while lowering the payroll tax employers will have to pay. The post Will D.C.’s Business Lobby Undermine the District’s Paid Family Leave Program? appeared first on Rewire.
Health insurance provided by your employer is free from income and payroll tax, regardless of how expensive the insurance is. But House Republicans are considering changing that as part of a plan to pay for changes to the Affordable Care Act, according to a recent report from Bloomberg. Show More Summary
District of Columbia officials are preparing to implement a new paid leave program, funded by a 0.62 percent payroll tax, guaranteeing eight weeks of parental leave, six weeks to care for an ailing family member, and two weeks of personal illness leave. Show More Summary
The IRS warns that a scam it uncovered last year involving corporate payroll departments continues to steal tax refunds
Democratic Gov. Andrew Cuomo says New Yorkers need to beware of new scams this tax season. State officials say many of the new schemes target company payroll and human resources … Click to Continue »
Sen. Bernie Sanders (I-Vt.) and Rep. Peter DeFazio (D-Ore.) introduced a bill on Thursday to expand Social Security benefits by lifting the cap on earnings subject to payroll taxes. The progressive lawmakers presented their proposalShow More Summary
Remember that tax scam last spring where crooks posing as company executives sent emails asking for workers' payroll data? It was the one that fooled lots of folks, including a Milwaukee Bucks employee who thought that the message really did come from the NBA franchise's president. Show More Summary
Be on the lookout for an email scam focusing on payroll records. The Internal Revenue Service (IRS) has been made aware that another email scam is making its way to taxpayers as tax season begins.
Is there tax life after administrative death? When a business withholds taxes from payroll, it isn’t really their money anymore, even while it […]
Rep. Mick Mulvaney, Donald Trump’s nominee for White House budget director, apparently doesn’t know much about payroll taxes. The New York Times reports he admitted to not paying state or federal taxes for a babysitter he and his wife employed. Read more...
WASHINGTON (AP) — Rep. Mick Mulvaney, President-elect Donald Trump's choice to run the White House budget office, failed to pay more than $15,000 in payroll taxes for a household worker more than a decade ago, prompting the Senate's top Democrat to issue a statement saying the lapse should disqualify his nomination. [...]Show More Summary
The disclosure that the nominee, Mick Mulvaney, failed to pay more than $15,000 in payroll taxes for a babysitter raised questions about his nomination.