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This article was last edited on 1/20/2020. For updated information on Social Security taxes, visit Topic No. 751. Every time you pay your employees, you’ll withhold Social Security taxes, also known as OASDI taxes...
This article was last edited on 1/17/2020. For updated information on information return penalties, visit Increase in Information Return Penalties. If you pay employees or independent contractors, you’ll need to file W-2 and 1099-MISC...
This article was last edited on 02/18/2020. For updated information on Form W-9, visit https://www.irs.gov/forms-pubs/about-form-w-9. You’ll use Form W-9 is used to request the taxpayer identification number (TIN) from any person or corporation you plan to...
This article was last edited on 1/3/2020. For updated information on 1099-MISC account numbers, visit https://www.irs.gov/forms-pubs/about-form-1099. If you’re filing a 1099-MISC form for an independent contractor, you might be wondering what to include as the account number. The account number is a code that’s...
This article was last edited on 11/5/2019. For updated information on tax due dates, visit https://www.tax.gov/calendar/. Make sure you don’t miss any tax due dates by going ahead and marking your calendar. These might change slightly...
The information in this article is current through tax year 2018. You’ve probably heard a lot about the Tax Cuts and Jobs Act and how it could change your personal tax return. But, have...
This article was last edited on 9/30/2019. For updated information on Form 1099-K, visit https://www.irs.gov/pub/irs-pdf/f1099k.pdf. Form 1099-K is used to report certain types of transactions to the IRS. It reports payments from a payment...
This article was last edited on 12/26/2019. For updated information on payroll taxes, visit https://www.irs.gov/forms-pubs/about-publication-15. A lookback period is the timeframe used to calculate an employer’s total payroll tax liability. The IRS then uses that info to determine your deposit...
Tax season will be here before you know it, but don’t wait until then to start preparing. If you wait until tax season starts, you’ll be scrambling and hoping you have everything you need....
Is your company a business, or is it still just a hobby? The IRS has strict guidelines about what activities constitute a business. Whether you’re a business will have an impact on your taxes...