Payroll and employment tax relief is what tax executives want most from Congress this year.
Congress, President must act quickly to combat the economic disruption of the COVID-19 outbreak, says the business group.
“What they want to do is hit Social Security like a wrecking ball with a massive tax cut for the country’s biggest corporations."
With California likely to become the third state to restrict the definition of independent contractors, companies that use gig workers face new risks.
Thanks to the credit’s now-permanent status, companies can factor a federal income tax reduction into their financial planning.
Several court cases prove that CFOs are on the hook for withheld payroll taxes -- even if a company has no funds.
Companies hoping for a cut in corporate tax rates will probably have to wait until next year. But now is the time to pay attention to the changes that are brewing, tax experts say.
If your company was one of the 3.8 million to receive a payroll tax penalty notice from the Internal Revenue Service last year, there's a 90 percent chance that the penalty was too high.
