The Internal Revenue Service and the federal law requires taxpayers to pay taxes in separate payments throughout the tax year. If you’re someone that earns income that isn’t subject to federal income tax withholding, you must make quarterly federal estimated tax payments to pay taxes. Use Form 1040-ES to figure out your tax liability for … Read more
The Internal Revenue Service announced when the agency will start accepting tax returns. After the second economic impact payments were sent out by the Department of Treasury and the Internal Revenue Service, it was expected that the start of the tax season would be at a later date than normal. For the tax season – … Read more
With Biden replacing the presidency, a new stimulus bill amidst the COVID-19 crisis has been passed, extending the ended benefits of the FPUC (Federal Pandemic Unemployment Compensation). With the extension, you will receive FPUC until March 13, . The FPUC will give you $300 for every week you receive Extended Benefits (EB), Unemployment Compensation (UC), … Read more
Paychex Centralservers provides payroll, resource, and human resources services for small and medium-sized businesses. It helps employers to manage their business more efficiently and save time. It not only operates in the United States but also in multiple European countries, providing payroll systems to businesses. It’s one of the most popular payroll management systems for … Read more
Form 1095-A Health Insurance Marketplace Statement is the tax form used for taking the premium tax credit or reconciling the advance payments of the premium tax credit. This tax form is not filled out by individuals. Marketplaces file this tax form to provide the necessary information about the coverage such as the monthly enrollment premiums, … Read more
What is APR and what is the interest rate? Oftentimes, in banking, about credit cards and loans, both the APR and the interest rate are perplexed. Whether you apply for a new credit card or a loan, you will see both of them as they provide great information about how it returns to you. In … Read more
There are multiple pay frequencies an employer can pay employees. Among these, one of the most common pay periods is the semi-monthly payroll. Unlike a bi-weekly pay period, the employer pays his or her employees two times a month – generally, on the 15th and the end of the month. The semi monthly payroll calendars … Read more
PTO payout or paid time off payout is an employer obligation for paying the unused paid time off when the employee leaves. If you’re an employer that has employees working for you, your employees are eligible for paid time off for at least two weeks annually. An employee who leaves the job properly, the employee … Read more
Form ST-3 Resale Certificate is used in New Jersey by the purchaser and furnished to the seller. The seller then keeps Form ST-3 and there is no need for further filing for this with the state tax department. The purpose of the resale certificate is to waive the sales tax on the purchase. For example, … Read more
Form 706 is a tax form that is filed by an executor of a decedent’s estate to figure out the tax owed according to Chapter 11 of the IRC. Form 706 is also used for calculating the amount owed for generation-skipping transfer tax, known as the GSTT. This tax form is mandatory to file if … Read more