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401(k) contribution limit increases

The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019.  The IRS today issued technical guidance detailing these items in Notice…
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How the new tax law affects tax returns next year

The Internal Revenue Service today advised taxpayers about steps they can take now to ensure smooth processing of their 2018 tax return and avoid surprises when they file next year under the new tax law. This is the first in a series of reminders…
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IRS: 2018 employer reimbursements for employees

Employer payments or reimbursements in 2018 for employees’ moving expenses incurred prior to 2018 are excluded from the employee’s wages for income and employment tax purposes, the Internal Revenue Service announced today. The 2017 Tax…
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FORMS? What are they for?

You will find the form you need for different activities and process. Individual Forms: - Form 1040: US Individual Income Tax Return - Form W-9: Request for Taxpayer Identification Number (TIN) and Certification . - Form W-4: Employee's…
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W-2: IRS Payroll Tax Form

If you have paid employees, you must prepare IRS payroll tax forms W-2 and W-3 each year. Your form W-2 tells the IRS, the Social Security Administration, and the employee the amount of wages and withholding for the year. The transmittal…
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How To Calculate Payroll Taxes

Learn how to withhold, remit, and calculate payroll taxes! If you are a small business owner with employees, you know paying them is not as simple as just writing out a check. For most employees, you must withhold the following taxes: …