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Attorney Chaya Kundra is moderating two panels at the ABA Employment Taxes on Friday May 5th, 2023
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Employment Tax Law
TFRP: When the IRS uses it and how it works
The Tax Code and additional Congressional action have given the Internal Revenue Service (IRS) many different tools to come after employers as well as those they consider responsible parties who fail to withhold and remit employment taxes. One such example is the...
Your company may have tax obligations in other states if you employ remote workers
In recent years, there has been an uptick in the number of businesses here in Washington, D.C. and elsewhere employing workers on a remote basis. This increase in remote work has led to an emergence of tax liability concerns that employers are only beginning to...
Common mistakes business owners make when filing employment taxes
There are many aspects of running a business that can give business owners more than their fair share of stress headaches – not the least of which is figuring out employment taxes. As complex as filing taxes can be at times, it’s important to get it right if you want...
Qualified High Technology Company tax revisions effective after 2019
A law was enacted in 2000, The New E-Conomy Transformation Act of 2000, that allowed Qualified High Technology Companies (QHTC) to have certain tax benefits. In 2020, the QHTC Tax Incentives Modification Amendment Act of 2020 eliminated, imposed or changed limits on...
Employee tax withholdings: how the IRS is tackling employers who don’t comply with the law
They say there are two things you can count on in life — death and taxes. When it comes to taxes, it can feel like once you think you have a good understanding, everything changes and you have to learn it all again. But for employers, there is one thing that will...
Personal tax liability and small businesses
Everyone who has ever run a small business knows that it is a risky proposition, but the risk should be to the business, not to the individuals involved. To that end, one of the most important things to consider when forming a business is how to shield the owners from...
Employers face criminal and civil liability for unpaid withholding taxes
Tax laws require employers to withhold income, Social Security and Medicare taxes from employee pay and to remit those taxes to the federal government. Employers who fail to pay withheld taxes to the government face potentially significant penalties. In some cases,...
Tax withholding deferral period extended
To address some of the economic disruption caused by the pandemic last year, collection of the 6.2 percent employee payroll tax was delayed in accordance with a presidential executive action. On Jan. 19, the Internal Revenue Service announced that it extended the...
The IRS’ aggressive pursuit of late or unfiled employment taxes
There are a few seemingly legitimate reasons a business may fall behind on employment tax payments to the IRS. During an economic downturn, for example, maybe depositing withheld employment taxes was not financially feasible. The business may plan to make it up later,...