Taxpayers might need a tax transcript for many reasons, like applying for a mortgage or a student loan. The Let Us Help You page on IRS.gov will help taxpayers understand tax transcripts. This page has links to information that will help taxpayers learn about the different types of transcripts and the process of how to…
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Recent Posts by admin
Backup Withholdings
Here are some payments subject to backup withholding… Interest payments Dividends Payment card and third-party network transactions Patronage dividends, but only if at least half the payment is in money Rents, profits, or other gains Commissions, fees, or other payments for work done as an independent contractor Payments by brokers Barter exchanges Payments by fishing…
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State minimum wage increases for 2019
At the start of the new year 20 states have made increases to their minimum wage. Most payroll companies will not automatically increase the wages, you'll have to change them individually as you process payroll. This can be labor intensive if your pay period is split between the two rates. We found this helpful website…
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Increase in mileage reimbursement rate for 2019
Starting January 1, 2019 the standard mileage reimbursement rate increases to 58 cents per mile for cars, vans, pickups, and panel trucks. Miles driven for medical and moving purposes increases to 20 cents per mile and miles driven to service of charitable organizations is 14 cents per mile. For more information check out this IRS…
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