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IRS reminds gig workers, self-employed to pay quarter estimated taxes

WASHINGTON — The Internal Revenue Service sent a reminder to taxpayers who pay estimated taxes that the deadline to submit their third quarter payment was Sept. 15, 2023. Taxpayers not subject to withholding may need to make quarterly…
WXC Corporation Doral Miami
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Red flags for Employee Retention Credit claims

WASHINGTON — The Internal Revenue Service continues to warn businesses to watch out for aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC) and urged people to watch out for red flags that can signal trouble. The…
WXC Corporation Doral Miami
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Make sure withholding is right on 2023 paychecks

WASHINGTON — The Internal Revenue Service today suggested taxpayers who filed or are about to file their 2022 tax return use the IRS Tax Withholding Estimator to help update the amount of tax to have taken out of their 2023 pay. The IRS…
WXC Corporation Doral Miami
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Employers urged to electronically file payroll tax returns by Oct. 31

WASHINGTON — The Internal Revenue Service today reminded employers to file the next quarterly payroll tax return by the approaching October 31, 2022, due date, and urged them to do so electronically. While paper filing is available, the…
WXC Corporation Doral Miami
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Salaries Could Rise Average of 4.1% in 2023

Salary budgets for U.S. employees are projected to increase in 2023, mainly influenced by a labor market with more open jobs than people to fill them. Leading global advisory, broking and solutions company WTW’s Salary Budget Planning…
WXC Corporation Miami Doral

IRS reminds employers to e-file payroll tax returns timely

WASHINGTON — The Internal Revenue Service today reminded employers that the next quarterly payroll tax return is due November 1, 2021. The IRS urges employers to use the speed and convenience of filing the returns electronically. E-filing…
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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…