941 payroll taxes, change is here!!!!
If you have payroll tax issues call us today to work out tax settlement. Former IRS agents know the effective tax strategies.
New Tax Legislation for Payroll Tax signed into Law.
This is Great News and a long time coming. finally some middle class tax relief coming our way.
This past Feb. 22, President Barack Obama finally signed into law the Middle Class Tax Relief and Job Creation Act of 2012, H.R. 3630.
On Feb. 23, the IRS released a revised Form 941, Employer’s Quarterly Federal Tax Return, to reflect the extended payroll tax cut. I never thought i would live too see the day.
This act extends the 4.2% rate for the employee portion of Social Security Tax through the end of 2012.
It also extends certain unemployment benefits and blocks a cut in Medicare Payments to doctors. This act also repeals earlier-enacted shifts in the timing of corporate estimated tax payments.
The act raises revenue through an auction of the spectrum of public airwaves, currently reserved for television, to allow for more wireless Internet systems.
A 2% recapture tax enacted in the December legislation that extended the payroll tax cut through Feb. 29, which effectively capped the amount of wages eligible for the payroll tax cut at $18,350, was also repealed by the act.
If you need to have questions answered or have any IRS tax issues call our team of Tax Attorneys, CPA’s of Former IRS Agents.
