help with payroll tax

Employment Taxes Amid COVID – Part 3

Parts 1 and 2 of previous blogs on this topic discussed the deferral of employment tax deposits and payments for the year 2020 and the effects that this deferral may have on the employer (Deferral of employment tax deposits and payments through December 31, 2020 | Internal Revenue Service (irs.gov)). Part 3 will continue this […]

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Employment Taxes Amid COVID – Part 2

Part 1 discussed the deferral of employment tax deposits and payments for the year 2020 (Deferral of employment tax deposits and payments through December 31, 2020 | Internal Revenue Service (irs.gov)). The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allows the employer to defer the employer’s share of the social security tax for

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Business Taxes are Dependent upon Business Structure – Part 3

We will discuss the last two of the five business structures recognized by the Internal Revenue Service (IRS) (Business Structures | Internal Revenue Service (irs.gov)) in this blog. Corporations (Forming a Corporation | Internal Revenue Service (irs.gov)) and S-Corporations (S Corporations | Internal Revenue Service (irs.gov)) involve shareholders rather than owners that the first three

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Business Taxes are Dependent upon Business Structure – Part 2

As discussed in an earlier blog, there are five business structures recognized by the Internal Revenue Service (IRS) (Business Structures | Internal Revenue Service (irs.gov)). Partnerships and Limited Liability Companies have been previously discussed. Sole Proprietorships (Sole Proprietorships | Internal Revenue Service (irs.gov)) will be discussed in this blog. A sole proprietor is an individual

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Business Taxes are Dependent upon Business Structure – Part I

All businesses must pay taxes. However, not all business taxes are the same for every business. The type, amount and form used in paying taxes is dependent upon the type of business entity. When someone starts a business, he or she must decide what business structure the business is to have. There are five business

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Tax Lien Discharge Reverts Property Back to You

As stated in earlier blogs, the Internal Revenue Service (IRS) has several tools they use to collect back taxes owed: liens, levies, wage garnishments, etc. As the saying goes: there is no escape from death and taxes. The IRS has several means of protecting their interest in the event you fail to pay your tax

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Pay a Portion of What You Owe with a Partial Payment Installment Agreement

The Internal Revenue Service (IRS) allows you, the taxpayer, to pay your tax debt in affordable monthly installments in which you determine the amount. These are called Installment Agreements. They are extremely helpful in affording the taxpayer time to pay their tax debt without the IRS forcing payment through liens, levies, wage garnishments and other

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How Installment Agreements Can Help

Even the best of intentions does not always materialize. You completed and filed your federal income tax return, but suddenly you realize that you do not have the money to pay the tax amount due. Now what?! Do you not file the tax return? Do you send the tax return without money? Lucky for you,

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