Payroll taxes

Key Democrats poured cold water on President Donald Trump’s proposal to include a payroll tax cut as part of his plan to respond to the coronavirus. Senior Republicans also held back from endorsing the suggestion ahead of a key lunch meeting on Tuesday.

The president will seek a payroll tax cut and “very substantial relief” for industries that have been hit by the virus, reversing course on the need for economic stimulus hours after markets posted their worst losses in more than a decade.

Here’s what host families need to know about taxes and payroll.

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When your client employs someone to work in their home like a nanny, housekeeper or senior caregiver, they may owe household employment taxes or “nanny taxes.” A lack of preparation, knowledge and/or communication can cause unneeded stress during busy season.

The Internal Revenue Service unveiled an enhanced Tax Withholding Estimator on its website Tuesday, designed to help workers fill out the new W-4 withholding form and hopefully avoid the problems seen last year when many taxpayers found themselves owing more taxes or receiving less of a tax refund than they expected.

The Internal Revenue Service is expanding its efforts to ensure businesses and individuals are paying their taxes, particularly payroll taxes, with in-person visits planned by revenue officers to more parts of the country, starting recently in Wisconsin and later this month Texas and Arkansas.

Resource limitations and a drop in staff at the service allowed businesses to get away with billions of dollars in unpaid taxes.

The presidential candidate released a plan Thursday to expand Social Security benefits by $200 per month with a payroll tax increase on incomes above $250,000.

Job growth at small businesses fell slightly in August, according to payroll giant Paychex, but wages showed encouraging signs.

The president said he’s not looking to cut taxes by indexing capital gains as it would benefit the wealthy.

As President Trump’s advisers cast about for ways to juice the economy, temporarily trimming payroll taxes has fallen out of favor, and with good reason: Voters might not even notice it.

Economic indicators increasingly point to a potential downturn.

The Trump administration is mulling the possibility of temporarily cutting Social Security and Medicare taxes as a way to spur the economy.

The Internal Revenue Service is automatically waiving the estimated tax penalty for hundreds of thousands of eligible taxpayers.

The Internal Revenue Service is replacing its old online tax withholding calculator and making it easier for taxpayers to determine how much in taxes they should withhold.

Revenue officers visited nearly 100 businesses suspected of having serious issues with employment tax compliance.

The Internal Revenue Service isn’t doing enough to flag over $74 million in potentially erroneous claims for the Excess Social Security Tax Credit, according to a new report.

Small, young companies could be eligible for up to $250,000 in payroll tax savings.

Due dates for reporting have been moved up, and worker classification remains a major problem.