Dec 29, 2014 | Business Taxes, Employment Taxes
Figures from 2010 show that 83 percent of personal tax liability convictions forced the offender to serve jail time, and the average sentence was two years. It is also important to note that these figures were all-time highs, which suggests the IRS is becoming even...
Dec 29, 2014 | Business Taxes, Employment Taxes
The responsibilities of employers don’t end when the paycheck has been issued; they are also responsible for: Paying the company’s share of payroll taxes. This includes Social Security, Medicare, FUTA, and state unemployment taxes.Depositing the money withheld...
Dec 29, 2014 | Business Taxes, Employment Taxes
Employers withhold taxes from their employees’ paychecks and hand this money over to the various tax agencies. These deductions include:Federal Income Tax: The rate of tax is based on the tables found in Publication 15.Social Security Tax: The tax rate for Social...
Nov 15, 2014 | Business Taxes, Employment Taxes
This guide relates to the payroll taxes paid by employers. If you are self-employed, you need to check out the IRS Self-Employed Individuals Tax Center to discover your tax obligations. Typically, employers calculate gross monthly earnings of employees before making...
