The IRS can pursue you personally if the company fails to pay the taxes. The civil penalty is 100% of the taxes not collected, and criminal liability is possible too.

The Social Security payroll tax includes a 6.2% tax paid by both employees and employers. Workers will pay Social Security payroll taxes on up to $184,500 in earnings in 2026. Individuals who have ...

New onboarding assistance complements full-service payroll, tax impoundment, and compliance support for household ...

Ramp reports that employee reimbursements are non-taxable under accountable plans but taxable under non-accountable plans due ...

IRS does not allow undoing a prior transaction as if it never occurred. You cannot amend your prior year tax return to ...

Tracking your company’s spending is essential for maintaining accurate financial records. One financial accounting method businesses use is the payroll journal entry. Payroll journal entries record ...

After a December standoff, Congress enacted a two-month extension of the payroll tax cut, which was first enacted late in 2010 and reduced the amount workers pay into Social Security from 6.2 percent ...