FICA Archives - Page 2 of 2 - John R. Dundon II, Enrolled Agent
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FICA

20 May

Posted at 00:00h in Business Expense, Employment Tax, FICA, Paying Taxes, Payroll Tax Problems, Self Employ, Small Business, Social Security, Social Security Tax, Sole Proprietor, Sub-chapter S, Tax Guidance & Preparation, Tax Problems & Requests, Tax Relief

A corporate officer who performs substantial services for the corporation and receives compensation is considered to be an employee. The corporation should issue a Form W-2 reporting the compensation as wages and withhold proper amounts for federal income tax, FICA, and FUTA purposes. ...

20 May

Posted at 00:00h in Business Expense, Employment Tax, FICA, IRS Audit, IRS Enforcement, IRS Examination, Payroll Tax Problems, Self Employ, Small Business, Social Security, Social Security Tax, Sole Proprietor, Sub-chapter S, Tax Guidance & Preparation, Tax Problems & Requests, Wage Garnish

The IRS and Department of Labor have joined forces to reduce employer misclassification of workers. Last fall, the IRS began auditing 6,000 companies to determine if they have misclassified workers as independent contractors or properly classified the workers as employees and paid the required employment...

27 Apr

Posted at 00:00h in Employee Business Expense, Employment Tax, FICA, Paying Taxes, Payroll Tax Problems, Self Employ, Small Business

The Hiring Incentives to Restore Employment (HIRE) Act, which was signed into law on March 18th, 2010 provides tax incentives for hiring and retaining workers and purchasing equipment and many other business assets. It also includes new measures that heighten disclosure and reporting requirements for...

06 Apr

Posted at 00:00h in Amended Tax Return, Appeals & Audit Resolution, Audit Reconsideration, Back Taxes Owed, Currently Not Collectible, FICA, Installment Agreement, Intent To Levy, Intent To Lien, IRS Appeal, IRS Audit, IRS Collections, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, Partial Payment Installment Agreement, Paying Taxes, Payroll Tax Problems, Self Employ, Small Business, Sole Proprietor, Statutory Notice of Deficiency, Sub-chapter S, Tax Abuse, Tax Fraud, Tax Guidance & Preparation, Tax Problems & Requests, Uncategorized>IRS Extension Request

The IRS provides an appeals system for those who do not agree with the results of a tax return examination or with other adjustments to their tax liability. Here are the top seven things to know when it comes to your appeal rights. When the IRS...

06 Mar

Posted at 00:00h in Back Taxes Owed, Employee Business Expense, Employment Tax, Estimated Taxes, FICA, Social Security, Social Security Tax, Tax Filing Status, Tax Guidance & Preparation

IRS Form 8919, Uncollected Social Security and Medicare Tax on Wages, may be used if you were an employee and your employer did not withhold your share these taxes and you meet certain criteria. These taxes will then be credited to you social security records. Generally, a...

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