Taxes

IRS ISSUES GUIDANCE ON PAYROLL TAX DEFERRAL

As we previously advised, on August 8th President Trump signed an Executive Order authorizing the deferral of certain payroll taxes for September 1 through December 31, 2020. Specifically, the Executive Order authorizes, but does not require employers to suspend the withholding and payment of the employee portion of Social Security taxes. President Trump has said […]

TIME FOR A VACATION: PRESIDENT TRUMP’S PAYROLL TAX HOLIDAY

After Congress failed to come to an agreement on a second Coronavirus relief package, President Trump signed several executive orders and memorandums on August 8, 2020 aimed at providing economic relief to employees and individuals who have lost their jobs as a result of the Coronavirus pandemic. One of the more notable actions taken by […]

IRS RELEASES NEW FORM W-4

The IRS has released an updated Form W-4 for 2020 — now titled “Employee’s Withholding Certificate”. The form was updated to reflect changes made to the tax code by the Tax Cuts and Jobs Act of 2017. What’s New? The primary goal of the revised form was to make it simpler for employees to complete […]

PAYROLL TAXES FOR 2019

Unemployment Insurance Effective January 1, 2019, the Nevada taxable wage base for calendar year 2019 is $31,200 (up from $30,500 in 2018). The taxable wage base is calculated each year at 66 2/3% of the average annual wage paid to Nevada workers. While total wages paid to each employee must be reported each quarter, unemployment […]

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