Taxes

This article was last edited on 9/8/2020. For updated information on Form 1099-NEC, visit https://www.irs.gov/forms-pubs/about-form-1099-nec. Beginning in tax year 2020, you will need to file Form 1099-NEC to report any nonemployee compensation…

This article was last updated at 8:00 a.m. EST on August 31, 2020. On August 8, 2020, President Trump issued a presidential memorandum to the Secretary of the Treasury about deferring certain payroll…

This article was last edited on 8/10/2020. For updated information on Form W-4, visit https://www.irs.gov/forms-pubs/about-form-w-4.  Form W-4, Employee’s Withholding Certificate, must be completed by workers in the U.S. to tell their…

This article was up to date as of 7/29/2020. For updated information on employment taxes, visit https://www.irs.gov/forms-pubs/about-publication-15-t. As an employer, you’re required to withhold certain taxes from your employees’ paychecks.…

Most employers have to pay federal unemployment tax (FUTA) on their team’s wages. Unemployment taxes help provide temporary financial security for workers who have lost their job. You’ll need to pay this…

This article was last edited on 10/01/2020. For updated information on Form 941, visit https://www.irs.gov/forms-pubs/about-form-941. As an employer, you’re required to withhold income, Social Security, and Medicare taxes from your employees’ paychecks.…

As an employer, you’re responsible for withholding payroll taxes from your employees’ paychecks. You might also deduct things like health insurance premiums, child support payments, and retirement contributions. Some deductions…

Your tax responsibilities may be more extensive than filing the traditional April return (or March for partnerships and S corporations). Certain occupations and business interests are required to make quarterly…

This article was last edited on 1/20/2020. For updated information on Social Security taxes, visit Topic No. 751. Every time you pay your employees, you’ll withhold Social Security taxes, also…