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If your small business employs one or more employees, the IRS needs you to fileForm 941. This form will report how much federal taxes and payroll taxes you may have withheld from your employees. You must submit the form four times on the following dates: January 31, 2024 for Q4 2024 Apr...
The extended due dates apply to most federal tax returns and payments, including those for income taxes (including estimated tax payments), payroll taxes, and excise taxes. If you’re impacted by a natural disaster, check our IRS Disaster Relief page to see if you qualify for an automatic ...
The holiday season is here, and there are a handful of celebrations to prep... Community Chatter: Setting Up Payroll Taxes & Answering Common Questions If you’re interested in streamlining your payroll process or automating som... Payroll Basics all...
Payroll Tax Deposit Due Dates How To Make Federal Payroll Tax Deposits Frequently Asked Questions (FAQs) Photo: boonchai wedmakawand / Getty Images As a small business owner, one of your most important responsibilities for payroll is to make sure federalpayroll taxesare deposited according to IRS...
When filing federal taxes, spouses who elect for qualified joint venture status are each considered sole proprietors and must report their profits and losses with individual Schedule C forms. If one spouse is classified as anemployeeof the other spouse, then the employed spouse’s wages are subje...
Run payroll confidently with the help of When I Work What is payroll tax compliance? Payroll tax compliance is the process of accurately calculating, withholding, reporting, and remitting employee taxes in accordance with federal, state, and local regulations. It safeguards businesses from regulatory ...
Refundable tax credits aside, the size of your tax refund is based on how much federal taxes are taken out of your paycheck — and that’s something you do have control over. What’s the ideal tax refund size? It's simple to say that most of us should be aiming for a smaller refund...
There are civil and criminal penalties for not filing taxes. You can lose your refund, pay fines in interest and late fees, or even be taken to court by the IRS for not filing your taxes.14 The Bottom Line Taxes are an essential part of funding federal programs that benefit everyone. Th...
The Paycheck Protection Program was a federal program that paid out $790.9 billion in small business loans during the COVID-19 pandemic.