WXC Corporation Doral
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IRS reminds business owners to correctly identify workers as employees or independent contractors

WASHINGTON — During National Small Business Week, the Internal Revenue Service reminds business owners that it's critical to correctly determine whether the individuals providing services are employees or independent contractors. An employee…
WXC Corporation Doral Miami
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Treasury, IRS provide additional guidance to employers claiming the employee retention credit

WASHINGTON — The Treasury Department and the Internal Revenue Service today issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages after June 30, 2021, and before January 1, 2022,…
WXC Corporation Miami Doral
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IRS provides guidance for continuation health coverage

WASHINGTON — The Internal Revenue Service today provided guidance on tax breaks under the American Rescue Plan Act of 2021 for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Notice…
WXC Corporation Miami Doral
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IRS has options for gig economy workers and those with unemployment benefits

WASHINGTON — The Internal Revenue Service reminds workers in the gig economy and those who claimed unemployment compensation in 2020 of their options and where to find information on meeting their tax obligations. Gig economy The gig economy…
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New law extends COVID tax credit for employers who keep workers on payroll

WASHINGTON — The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees…
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IRS reminds businesses to e-file payroll tax returns

WASHINGTON — The next quarterly payroll tax return due date is October 31, and the Internal Revenue Service urges business owners to use the speed and convenience of filing the returns electronically. Deposits made by Monday, November 2,…

IRS recommends business owners e-file payroll tax returns

WASHINGTON — With the Oct. 31 quarterly payroll tax return due date just around the corner, the Internal Revenue Service today urged business owners to take advantage of the speed and IRS Forms 940, 941, 943, 944 or 945 are used to report employment…
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Employee or Contractor? Have Uber and Lyft Finally Crossed The Line?

In the last few years, it has been common for companies to treat, what would otherwise be employees, as contractors.  The reason, is simple.  As an employee of a company, the employer has to withhold 7.65% in FICA from their employees.  In…
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IRS Offers Variety of Payment Options, Penalty Waivers

As the 2019 tax filing season gets into full swing, some taxpayers are facing a surprise tax bill instead of a refund. For those who are unprepared, the Internal Revenue Service offers several payment options. The IRS anticipates that most…