Income and payroll tax problems can both end badly, even in criminal tax evasion cases.
After September was declared the lowest volatility month on record, October is starting auspiciously, if only for the vol sellers. After last week stocks rose again on renewed hopes of a Trump tax deal and following a payrolls report...Show More Summary
Vermont officials say their town's computer system was hacked by a type of malware that targeted payroll and tax bill files. St. Johnsbury town manager Chad Whitehead tells The Caledonian … Click to Continue »
Payroll taxes represent both the employer and employee portions of Social Security and Medicare taxes, along with Federal income taxes that are withheld from an employee’s paycheck. The IRS takes an especially hard stance on the failure to remit payroll taxes, and uses aggressive collection efforts when pursuing these delinquent taxes. The Trust Fund Recovery […]
Key Findings: OECD countries rely heavily on consumption taxes, such as the value-added tax, and social insurance taxes, such as the payroll tax. The United States relies heavily on the individual income tax, at 39.3 percent of total government tax revenue. On average, OECD countries collect little from the corporate income tax (8.8 percent of […]
Key Findings: Average wage earners in the United States face two major taxes: the individual income tax and the payroll tax (levied on both the employee and the employer). Although a little more than half of a U.S. worker’s payroll tax burden is paid by his employer, the worker ultimately pays this tax through lower […]
IRS should dramatically increase payroll tax enforcement efforts, leaving billions uncollected. Employers who have been skating, should get ready to be pushed.
Criminal enforcement of payroll tax violations are growing, as are prison sentences. When it comes to payroll taxes, color within the lines.
Payroll services can file employment tax returns and hand over withheld monies to the IRS. But what if your payroll service steals your tax money before the IRS receives it? You guessed it, you are still liable for all the taxes.
Every employer must withhold taxes from employee wages, and pay them to the IRS. Violators can face steep penalties, and in some cases prosecution and prison.
All employers have to withhold and remit taxes from employee pay. Failures--where employers use the tax money for something else--are dealt with harshly.
Will payroll and the competitive balance tax might affect the Nationals trade deadline dealings?
“The electoral-economic cycle breeds a lurching, stop-and-go economy the world over. Governments fool around with transfer payments, making an election year prank out of the Social Security system and the payroll tax. There is a bias...Show More Summary
A western Missouri business owner pleaded guilty to failing to pay more than $1.4 million in payroll taxes. Federal prosecutors say 50-year-old Randy Small, of Lexington, pleaded guilty Tuesday. Small … Click to Continue »
Employers in the city pay a one-half of one percent payroll tax, but many have been exempted from this requirement. Ald Conway wants to end the exemptions for those with 21 or more employees: BOARD BILL NO. 58 INTRODUCED BY ALDERMAN STEPHEN CONWAY An ordinance pertaining to the payroll expense...
Save on payroll taxes by cutting your salary? Newt Gingrich, John Edwards and (it appears) Donald Trump did it. Maybe you should too.
On Fridsy a bill was introduced at the St. Louis Board of Aldermen to increased revenue to pay for more police, and increase their salaries. Alderman Stephen Conway says he’d like to end the city’s exemption of the half percent payroll tax granted to nonprofits. “We are losing officers,” Conway says...
State agents took financial records, payroll records, tax returns and documents from high profile clients like BlueCross BlueShield and the Ports Authority when they raided the business offices of a … Click to Continue »
Getting stuck paying someone else's taxes is the worst, and it can happen with payroll taxes if your role at an employer is considered a 'responsible' one.
May Federal tax collection data sent negative signals. The surge in April withholdings turned into a purge in May, as collections decelerated sharply. The weakness in nonfarm payrolls was no accident. Here’s why more bad news may be coming and why it may not be bearish for markets yet. Show More Summary