News & Analysis as of

Tax Liability Income Taxes FICA Taxes

Proskauer - Employee Benefits & Executive...

FICA Tax: Navigating the Nonqualified Deferred Compensation Special Timing Rule

Compensation is generally subject to federal income tax and FICA tax when compensation is actually paid to an employee. However, nonqualified deferred compensation (NQDC) may be subject to FICA taxation before federal income...more

Freeman Law

Section 530 and IRS Employment Tax Audits: Worker Classification and Relief

Freeman Law on

Worker Classification and Section 530 Relief - Employers are required to pay employment taxes to the IRS. Generally, these payments consist of two portions: the employee’s portion of FICA and income taxes and the employer’s...more

Blank Rome LLP

Recent Lawsuit Highlights a Potential Equity Compensation Trap

Blank Rome LLP on

It is common for executives to be compensated by giving them the right to receive employer stock. This right can take different forms, including direct stock grants, stock options, and restricted stock units. Equity awards...more

Gerald Nowotny - Law Office of Gerald R....

Taxing Times - April 2021

Male Escort Gets 21 Months In Prison For Tax Case - He lied on his tax returns, resulting in a tax loss to the IRS of $278,325. A male escort who lied to the IRS about his income was sentenced to 21 months in prison and...more

Carlton Fields

A Primer On Employment Taxes

Carlton Fields on

We noticed an uptick in employment tax issues, so thought a primer on employment taxation basics would be helpful. While this may be of general interest to in-house counsel and human resources professionals, it is probably...more

Davis Wright Tremaine LLP

Family Employee Tax Policies

Hiring and employing family members is common in the realm of family businesses. An important thing to remember is that most family employees are treated in the same manner as any other employee for federal tax purposes,...more

Burr & Forman

Unpaid Federal Employment Taxes: The Government’s Chief Enforcement Priority

Burr & Forman on

Businesses that have employees must pay wages and salaries to their employees, and the employer must collect federal employee income taxes and the employee’s share of social security (FICA) from these wages and salaries, add...more

Foodman CPAs & Advisors

Lo que sabemos sobre el Cumplimiento Crypto y los impuestos federales de los EE. UU.

La última Notificación emitida por el IRS sobre Criptomoneda fue el Aviso 2014-21 publicado el 25 de Marzo del 2014 que brinda orientación en forma de respuestas a preguntas frecuentes (“Frequently Asked Questions”). ...more

Burr & Forman

IRS Clarifies Authority for Acceptance of Offers in Compromise from Clients of Professional Employer Organizations and Reporting...

Burr & Forman on

Generally, an employer is required to deduct and withhold Federal Insurance Contribution Act taxes (“FICA”), Federal Unemployment Tax Act taxes (“FUTA”), and income tax withholding from its employee’s wages and is separately...more

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