Drake Software blog for tax pros, covering tax, IRS news, and more
There’s not much doubt that the COVID-19 pandemic has taken a strong labor market and turned it on its ear, producing a shortage of available workers.…
Read more about IRS Highlights Resources for Employers Facing Labor Shortages
The American job market is a changing landscape these days. A year ago, the big push was to retain workers in the midst of the COVID-19 pandemic. Now the need is to find new workers to staff a growing economy.…
Read more about Work Opportunity Credit Helps to Counter Hiring Crunch
The Internal Revenue Service yesterday released a COVID Tax Tip highlighting guidance for employers who deferred payment of their employee’s 2020 Social Security tax. Initially described by legislators as a “payroll tax holiday,” the agency reminds participating employers that they still have to pay deferred employee Social Security tax by the new deadlines.…
Read more about IRS Reminds Employers About Repayment of Deferred Social Security Tax
A recently released notice allows employers who elected to defer certain employees’ taxes to withhold and pay those deferred taxes throughout 2021 - instead of just the first four months of the year.…
Read more about Employers Can Withhold, Make Payments of Deferred Social Security Taxes from 2020
The Internal Revenue Service is reminding tax professionals and taxpayers that employers need to file Form W-2 and other wage statements by Feb. 1, 2021.…
Read more about IRS Reminds Employers of February Wage Statement Deadline
Research shows that employees who feel appreciated are more productive and loyal...…
