What is the 1099-PATR form?The forms in the IRS 1099 Series helps taxpayers report money received from various lesser-known sources. Form 1099-PATR is the IRS form sent to taxpayers...
Background. Effective for each tax year beginning after December 31, 2017, an ATEO is generally subject to a special tax (currently 21%) on the amount of any employee's overcompensation...
There is a short provision on the new tax reform bill that was just enacted which might impact how employees settle sexual harassment claims. According to section 13307 of TCJA, there...
In general, any form of military payment obtained while deployed to a combat zone is excluded from federal income tax. This translates into significant tax savings for the active combat...
There is a way you can deduct the medical expenses of another person, even if the person is not under the same roof as you. This is a tax break that many do not utilize, especially...
Thanks to the Internal Revenue Service's (IRS) cost-of-living adjustment, you can save more money on retirement plans and health savings accounts (HSAs) by 2020. This year, good...
An employee's work is usually repaid in wages, salaries, commissions, tips, additional benefits, fringe benefits, and bonuses. All of these taxes are subject to various state and...
For people in the real estate business with agents that you give commissions after every sale or lease, you must report such payment on a 1099 MISC form. Your obligation as an employer...
A particular problem often arises when one spouse feels that he or she has been unfairly affected by the other spouse's tax liability. Married taxpayers who file a joint income...
Posted by Carmen Garcia on 08/20/2020