Ask the Tax Expert

Johanna GargBlog, Tax0 Comments

Q: How do I void a 1099 that was electronically filed with the IRS. I filed the same form twice in error. Should I create a VOID form with all the same amounts? A: In order to void out a duplicate 1099 filed in error, you will need to file a new 1099 with the IRS with the “CORRECTED” box checked … Read More

Year-End Preparation

Brad CrouchBlog, Dominion Payroll News, Tax0 Comments

“Can you believe we’re in the FOURTH quarter already?! Time certainly has flown and the end of the year is on the horizon! NOW is an excellent time to begin reviewing your account to be sure your employees’ social security numbers, names, and addresses are correct, as well as the legal AND delivery address we have on file for your company … Read More

With Remote Work Increasing, Be Aware of These Tax Implications for Out-Of-State Workers

Kevin WilsonBlog, Payroll Services, Tax0 Comments

More than 50 million members of the U.S. labor force are currently working remotely full-time, a ten-fold increase from the 5 million employees who worked from home at least half of the time back in March. With this change and employers’ concerns about productivity and company culture comes one more item to consider: taxes. When remote workers are located in … Read More

Payroll Tax Deferral Executive Order: Why You Probably Shouldn’t Defer Your Employees’ Social Security Tax

Kevin WilsonBlog, Payroll Services, Tax0 Comments

On August 8, 2020, President Trump signed an executive order allowing employers to defer the 6.2% employee portion of Social Security payroll taxes for employees earning less than $4,000 for a biweekly period from September 1st until December 31st of this year. The aim of this order was to put more money in wage earners’ pockets in light of the … Read More

IRS Releases New Withholding Tables and W4 for 2019

Andy LiguoriBlog, Tax0 Comments

The IRS has released Notice 1036, Early Release Copies of the 2019 Percentage Method Tables for Income Tax Withholding as well as a final version of the 2019 W4, Employee’s Withholding Allowance Certificate. Exemption allowances have gone up only slightly for 2019: Pay Frequency 2018 Allowance 2019 Allowance Weekly $79.80 $80.80 Biweekly $159.60 $161.50 Semimonthly $172.90 $175.00 Monthly $345.80 $350.00 Quarterly … Read More