Archive for IRS and Tax forms
On 12/5/19, the Internal Revenue Service (IRS) issued a new form W-4 for 2020. The form was retitled Employee’s Withholding Certificate and has been designed to make accurate income tax withholding easier for employees. Some of the key points that employers should note are as follows:
Posted in: IRS and Tax forms
Leave a Comment (0) →The Internal Revenue Service (IRS) has issued the new (percentage method) payroll withholding tables for 2018 along with notification that the W-4 Form is in the process of being updated to reflect the new tax law. For the moment, no new form is required and employers should retain the existing forms for all employees. In addition to recalculating the new payroll tax deduction, there are a several other changes for employers to consider. (more…)
It’s that time of year, isn’t it? I’m not talking about holidays and festivities, I’m talking about getting ready to close out the year and get ready for the new one. (more…)
In today’s world where so many workers have lost their pensions, there is one employer who has remained steadfast in meeting their pension commitments – the United States government. As of an August, 2016 article in the USNews.com, there was still one beneficiary receiving benefits from a Civil War pensioner. (more…)
Posted in: IRS and Tax forms, Payroll, Payroll Processing
Leave a Comment (0) →I was really excited for a colleague who got a big contract that was going to expand his company this year. He was excited because his small business would no longer be just a local business, but would now be a business that worked nation-wide. We celebrated with a congratulatory lunch. It wasn’t but a couple of weeks later that he called and was obviously down. I was afraid he’d lost the deal. But no, he said it was worse – it was about payroll taxes. (more…)
You never know when new legislation might be passed, turning your small business’s life upside down. Just when you think you have things figured out and your business is on the right track, the government can decide that you need to change the way you operate. Small business owners in New York are currently facing a scenario in which proposed legislation threatens to change the way they will be allowed to pay their employees. (more…)
As if payroll itself wasn’t complicated enough, there are IRS reporting deadlines and deposit schedules to comply with as well. And, to make things ever more interesting, it can change depending on how your payroll changes through the year. How can a small business owner keep up with it all? (more…)
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