Club Tax Expert Explains New IRS Guidance on Employee Social Security Payroll Tax Holiday

Written by: Brad Steele, J.D. Attention, clubs: on August 8, the United States President issued an executive order deferring a portion of your employees’ payroll taxes. This payroll tax holiday runs from September 1 to December 31, and only employees making less than $104,000 per year qualify. In that same…

Relief to Help Hospitality Businesses Weather Economic Impact of COVID-19

It is not news that the world is seeing a period of economic decline unlike any it has ever seen. We are all experiencing it. In response to the stagnant economy brought on by the COVID-19 pandemic, the United States Federal Government has in the past month passed several relief…

Social Clubs and the Coronavirus Pandemic: A Tax View on Qualified Disaster Payments

Written by: James J. Reilly, CPA, JD On March 13, 2020, [United States] President Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (the “Declaration”) because of the challenges resulting from the coronavirus pandemic. The Declaration provides methods for employers, including social clubs,…

Paycheck Checkup: The IRS Encourages Taxpayers to Review Withholdings

April 17, 2018: Tax day in the United States has come and gone. Individual taxpayers have filed all of their paperwork, and have either paid up the amount owed to the United States Internal Revenue Service (IRS) or deposited their refunds in their bank accounts. Now that the 2018 tax…

VOW to Hire Heroes: New 2012 Tax Credits for Veterans

President Obama signed HR 674 — making two unemployed veteran target groups official, starting on the day after the enactment date of Nov. 21, 2011. New Unemployed Veteran Target Groups: 4 weeks: Gives employers a tax credit of up to $2,400 for hiring veterans who have been looking for a…

New Issue of The Bottomline Covers the Tax Relief Act and More

We just released the April/May issue of The Bottomline, HFTP’s bi-monthly publication. The issue’s general theme features articles on: How to navigate the Tax Relief Act How organizations managed HR in a slow economy Updates to the enterprise communication system — Exchange What’s new in PCI version 2.0 How network…