Tax season might be over, but hackers are still stealing sensitive information from vulnerable companies.
Hackers managed to break through ADP’s firewalls and steel sensitive tax and salary information for employees at a dozen companies. ADP explained that fraudsters managed to siphon W-2 tax forms using a convenient online feature. The company won’t say when the cyber attack occurred or how many people had their income data exposed. Show More Summary
I met with a group of House Republicans last week to talk about tax reform. Ways and Means chairman Kevin Brady is laying the groundwork for a major tax restructuring next year, and so GOP members are boning up on reform ideas. I discussed income tax reforms with the members, including the creation of Universal Savings Accounts. Show More Summary
Source: Consumerist Mike Magee Would you be willing to subject yourself to a 3.3% payroll tax (and your employer to a 6.7% payroll tax) to gain access to reliable simple universal health coverage – one that provided choice in and out...Show More Summary
Former Gov. Ted Strickland, and Democratic candidate for U.S. Senate in Ohio, has jumped on the bandwagon for protecting and strengthening Social Security and Medicare through the most obvious and simple solution—lifting the payrollShow More Summary
Payroll taxes are serious, and withheld tax money belongs to the IRS, not the employer. Don't spend it, and don't divert it unless you are willing to go to jail.
All tax debts are serious, but employment tax debts are particularly so. Failing to pay withheld trust fund taxes from employee pay can draw large IRS penalties and even prosecution.
The IRS says it's seen a "surge" this year in phishing emails, with thieves baiting special hooks for payroll and human-resources workers in hopes of snagging a company's entire stash of employee Social Security numbers and other personal...Show More Summary
A forged e-mail from CEO pays off again, may be tied to tax return fraud.
Withholding tax collections for the nonfarm payrolls reference week including February 12 suggested that the headline number should be a huge miss. If that comes to pass, with the 13 week cycle and shorter term cycle up phases due to turn down, this should be a setup for a negative reaction to the news. Show More Summary
The animal heralding March's arrival this tax-filing season is not a lion or a lamb, but a fish, or rather a phish. Yep, a new phishing scheme has emerged, with tax crooks trying out a new scheme that targets payroll and human resources professionals. Show More Summary
Paying taxes isn't voluntary. That's why there's payroll withholding to take the money out of our wages before we get our checks. Don't pay your taxes or file late and you'll be hit with a tax penalty. But the Internal Revenue Service...Show More Summary
We know that the above e-mail couldn’t be real for a few reasons: Consumerist doesn’t have our own payroll department, and Olivia is a cat. Yet there’s a new variation of the now-classic CEO scam, where someone impersonates your boss over e-mail and requests a massive wire transfer. In this version, the boss impersonator does exactly what Fake Meg …
MoreCruz Closes In on Trump in New National PollCruz and Rubio Fight Turns Personal in South CarolinaTed Cruz Twists the Truth in New Anti-Trump Video Under Texas Sen. Ted Cruz’s tax plan, all payroll taxes, the corporate tax, the estate tax, the gift tax, and the alternative minimum tax would be summarily abolished. In their…
Employers and responsible individuals within a business can be held personally liable for withheld payroll taxes that are not timely turned over to IRS. In advising small businesses who may be considering "making themselves loans" or...Show More Summary
No 2015 coupling at all? I had been under the impression that Governor Branstad’s budget proposal would not couple Iowa’s tax […]
Bernie Sanders is proposing a “Medicare for all” health care plan with a proposal on how to fund it. According to Sanders’ plan, individuals would pay a 2.2 percent “premium” and employers would pay a 6.2 percent payroll tax to fund the healthcare plan. Individuals making $250,000 to $500,000 a year would pay a tax [...]
The Los Angeles Dodgers have been hit with a record luxury tax of nearly $43.6 million for a payroll that fell just shy of $300 million.
A new program from the IRS is designed to alleviate the burden of late payroll taxes and other fees associated with employers who are late or expect to be late paying their payroll taxes.
Few people or companies jump at the chance to interact with the IRS. But the latest initiative by the tax-levying agency actually sounds like it has some promise. On December 8, the IRS announced the launch of Early Interaction Initiative, a program designed to notify employers who may be......