Payroll Tax Filing-What You Better Know

Payroll Tax Filing

IRS Tax Form 941 for Payroll Tax Filing Here’s everything you need to know about payroll tax filing, quarterly returns, and form 941. Remember the thrill of your first paycheck? Remember feeling less thrilled when you discovered that your employer held some money for income taxes and Social Security? That is payroll tax. Likewise now…

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How to Hire Your Kids The Tax Smart Way

How to Hire Your Kids

UPDATED FOR 2021 As long as your kids are doing legitimate work for your business you can hire your kids. As long as they’re doing legitimate work for your business, you can hire your kids and pay each of them up to $12,000 per year tax-free. It’s true. And all of this while they earn…

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Beware of 2021 Deposit Dates For Payroll Tax

Payroll Tax

Report Payroll Taxes You must report taxes you deposit by filing Forms 940, 941, and 944 on paper or through e-file. Federal Income Tax and Social Security and Medicare Tax If you held federal income tax or social security and Medicare taxes, subsequently, then you must file Form 941, Employer’s Quarterly Federal Tax Return each quarter. This…

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How The Rich Pay Less Tax

Pay less tax

The richest Americans pay less tax via paid overall a lower tax rate than average due to what the IRS shows they do differently. The ultra-rich save the most tax, according to IRS statistics. And over 90% of them have one thing in common. They do not sign their own returns. They hire tax pros instead.…

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Make Final IRS Payment On IRS Website Page Helps Closing Business

IRS Payment

The IRS streamlined the Closing a Business page into simple steps, so business owners and self-employed individuals can make final IRS payment. During this difficult and challenging time, the IRS streamlined the Closing a Business page into simple steps, the release states, so business owners and self-employed individuals can quickly find the information they need.…

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IRS Tax Enforcement Ambitiously Cranks Up

IRS Gears Up for Aggressive Tax Collections and Enforcement

IRS Gears Up for Aggressive Tax Collections and Enforcement IRS Commissioner Charles P. Rettig testified before the Senate Finance Committee, sending the message that the IRS is committed to catching intentional tax evaders. He stated “The IRS is committed to having a strong, visible, robust tax enforcement presence to appropriately support taxpayers who comply voluntarily.…

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Bank Levy: Insider Tricks To Stop One

Mafia. Cute boy in sunglasses with a suitcase of money. Gambling. Gambling win. Children and cash. Financial education. Successful businessman fighting bank levy

Your Best Defense Against A Bank Levy A Collection Due Process Hearing, also known as a CDP hearing, maybe your last best chance to resolve a tax controversy and stop a bank levy with the IRS short of tax litigation. The IRS does not allow taxpayers to request these hearings for “frivolous” reasons. That includes…

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12 Ways For IRS Back Tax Relief

A Middle Aged Man Looking For Ways to Get IRS Back Tax Relief

2020 was a tough year for many. Now is time for Americans to seek IRS back tax relief as they face financial hardship making tax payments impossible. How to Get IRS Back Tax Relief Without Using A Professional Has the pandemic caused created you to fall behind on filing your federal income tax return or…

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Great Opportunities For IRS Tax Debt Relief

Tax Debt Relief

When the IRS lets you know that you owe taxes, a common and reasonable response is panic, particularly if you owe a lot of money to the government. People often seek help from tax relief services. These firms represent you before the IRS, submit Offer In Compromises, discuss payment plans, innocent spouses relief, and other IRS…

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