Businesses balk at payroll tax deferral
As an economic relief measure for workers amid the Covid-19 pandemic, President Trump in August issued a memorandum allowing employers to defer the employee portion of Social Security taxes from September 1 through the end of the year. The payroll tax deferral is...IRS clarifies rules on Social Security tax deferral, but skeptical employers are opting out
Payroll tax deferral would give workers more take-home pay now, but sock them with tax bill in 2021
Covid-19 tax issues related to remote work and unemployment benefits
If you are working from home or collecting unemployment, one of two tax issues will impact you when you file your tax returns in 2021.
Employer-provided life insurance may add taxable ‘phantom income’ to your compensation
If you receive employer-paid group term life insurance as part of your compensation, and the coverage is higher than $50,000, it may be adding taxable “phantom income.”