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IRS Highlights Steps Taxpayers Can Take to Deal with 2018 Tax Law Changes

The IRS is advising taxpayers about the steps they can take to ensure smooth processing of their 2018 tax return and avoid surprises when they file next year. The guidance is the first in a series of reminders to help taxpayers deal with the sweeping tax changes made by the 2017 Tax Cuts and Jobs […]

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Notifying the IRS and State Agencies When Restructuring your Organization

Most¬†nonprofits that have received an exemption from income tax understand that the basis on which the IRS determination was made were the facts and circumstances included in the original application submitted to the IRS for review and approval. Logically, it would seem that most organizations would understand that if the basis upon which the exemption […]

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2018 Federal Withholding Rules

The IRS has issued guidance on the federal income tax withholding rules in response to recent changes made by the Tax Cuts and Jobs Act (P.L. 115-97). The IRS also has released IRS Publication 15 (Circular E), Employer’s Tax Guide for 2018, which includes specific information on the withholding guidance. Background The Act made significant […]

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Understanding Employee vs. Contractor Designation

The IRS recently issued an updated fact sheet reminding employers of the importance of correctly classifying workers for purposes of employment taxes. Generally, employers must withhold income taxes, withhold and pay social security and Medicare taxes, and pay unemployment tax on wages paid to employees. Whether a worker is an employee or an independent contractor […]

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Posted in: Employment Law

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