Letters question income under-reporting The IRS recently sent letters to approximately 20,000 small business taxpayers claiming that the businesses might be under-reporting their gross receipts. The letters are based on credit card payments reported … [Read more...]
Payroll Taxes: 0.9% Medicare Surtax
The Patient Protection and Affordable Care Act of 2010 – commonly referred to as Obamacare or the ACA – included two provisions related to the Medicare tax which took effect in 2013. Today we’ll look at the 0.9% increase to Medicare tax for high-wage … [Read more...]
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