TweetShareSharePin0 Shares The Biden administration has proposed significant changes to the tax rules that govern how much U.S. companies owe on their foreign profits while working to negotiate a global minimum tax. However, the global minimum tax and the Biden administration’s proposals are quite different. A recent Tax Foundation report dug into the details on
TweetShareSharePin0 Shares We have not written about designation of payment in a long time. Early in the life of the blog we had two posts on the topic which you can find here and here. Designation of payment for any type of tax could have important consequences for the taxpayer and save lots of money.
TweetShareSharePin0 Shares The IRS on Tuesday released a draft revised 2021 version of Form 941, Employer’s Quarterly Federal Tax Return, reflecting further new and updated payroll tax credits. The current official version was released less than three months earlier on March 9, and the impending further changes reflect Congress’s multiple provisions of temporary payroll tax
TweetShareSharePin0 Shares To continue to allow employers to take immediate advantage of various credits enacted in response to the COVID-19 pandemic, the IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them with the
Tax Problem Resolution Sachse, Tx.