by CRI Payroll Services | Feb 23, 2021 | All Posts
On October 11, the Social Security Administration (SSA) announced that the 2019 social security wage base will be $132,900, an increase of $4,500 from $128,400 in 2018 [SSA, Press Release, 10-11-18]. The FICA tax rate remains 7.65% for 2019 up to the social security...
by CRI Payroll Services | Feb 23, 2021 | All Posts
Eligible taxpayers may now deduct up to 20 percent of certain business income from domestic businesses operated as sole proprietorships or through partnerships, S corporations, trusts, and estates. The deduction may also be claimed on certain dividends....
by CRI Payroll Services | Feb 23, 2021 | All Posts
The Tax Cuts and Jobs Act (TCJA) changed deductions, depreciation, expensing, tax credits and other tax items affecting businesses. This side-by-side comparison can help businesses understand the changes and plan accordingly. Some provisions of the TCJA...
by CRI Payroll Services | Feb 23, 2021 | All Posts
Taxpayers should be on the lookout for new variations of tax-related scams. In the latest twist on a scam related to Social Security numbers, scammers claim to be able to suspend or cancel the victim’s SSN. It’s yet another attempt by con artists to frighten people...
by CRI Payroll Services | Feb 23, 2021 | All Posts, IRS
Taxpayer Relief Initiative aims to help those financially affected by COVID-19 *Information provided directly from IRS.gov* The IRS reviewed its collection activities to see how it could provide relief for taxpayers who owe taxes but are struggling financially...