The Republicans are no longer the party of tax cuts. I never thought I would hear myself say that, but it’s true. At least for the short term. Yesterday, House Republicans abandoned their principles and agreed to a whopping two month extension of the payroll tax cuts that were signed into law two years ago. Of [...]
Tags: Payroll Taxes · Politics of Taxes · Tax Policy
The IRS is apparently so happy with the results of it’s offshore voluntary disclosure program that it has established a similar program in the area of worker classification. Michael Cohn of AccountingToday writes that the IRS has introduced a new voluntary compliance program Wednesday to convince employers to resolve their past issues with classifying employees as independent [...]
Tags: Announcements · IRS Audits · IRS Penalties · News · Payroll Taxes · voluntary disclosure
Do you remember last year’s debate about whether or not we should extend the Bush tax cuts? Do you remember how the Democrats and their soak-the-rich friends kept insisting that the expiration of those tax cuts did not amount to a tax increase? On July 25th, 2010 I wrote the following in a post titled Truth & Taxes: Not Extending the Bush [...]
Tags: Legislative Watch · Payroll Taxes · Politics of Taxes
In the Republican Presidential debate last night Texas Governor Rick Perry doubled down on his contention that America’s Social Security Program is a scam: [P]eople who are on Social Security today, men and women who are receiving those benefits today, are individuals at my age that are in line pretty quick to get them, they don’t need [...]
Tags: Opinion · Payroll Taxes · Politics · Politics of Taxes
“Amish homes do not draw power from the electrical grid. They feel that that would excessively connect them to the world.” - Beliefs of the Amish, Religious Tolerance Website - By all accounts the Amish are a peace loving, amiable people. I have no quarrel with them or their austere lifestyle. But now it appears that [...]
Tags: International Taxation · News · Payroll Taxes
The IRS prefers that workers be classified as employees subject to the payroll tax withholding laws rather than as independent contractors who are not subject to those laws. The reason for this is obvious: Employers of the former are conscripted by the government to serve as its collection agent. The IRS, therefore, is more likely to get paid [...]
Tags: IRS Audits · IRS procedure · Payroll Taxes
According to WebCPA the Treasury Inspector General for Tax Administration (TIGTA) says that a larger percentage of IRS collection agents are not following the proper procedure in payroll tax cases: The collection of taxes through employment tax returns is a significant source of revenue for the federal government. As of Sept. 30, 2009, the total IRS [...]
Tags: Payroll Taxes · Tax Collections
