The IRS has postponed, until Jan. 15, 2021, the due date for reporting and paying the excise taxes on minimum required contributions to a single employer defined benefit plan. The tax is imposed on...

Read more

Do you earn income that isn’t subject to tax withholding? Small business owners, self-employed people, taxpayers who are part of the gig economy and certain others may be required to make quarterly estimated tax...

Read more

The IRS has issued guidance on certain provisions of the SECURE Act, including the repeal of the maximum age for traditional IRA contributions. The law eliminated the restriction that a taxpayer couldn’t contribute to...

Read more

Although many private employers have announced they won’t be deferring Social Security taxes through the end of the year under a presidential action, federal employees will have the taxes deferred. The National Finance Center,...

Read more

Are you in a centralized partnership? The IRS has announced the launch of a new webpage dedicated to the Bipartisan Budget Act of 2015 (BBA) centralized partnership audit procedures. The BBA procedures replaced the...

Read more

The IRS reminds taxpayers to review their withholding annually. For a step-by-step method of determining the right amount to withhold, they can use the Tax Withholding Estimator, an online IRS tool. Employees who need...

Read more