Payroll

Currently over 50 million individuals own nearly $178 billion worth of U.S. Savings Bonds. Many don’t realize that savings bonds are subject to federal income taxes when they are either cashed in or reach final maturity, whichever comes first. The difference between the purchase price and the cash-in value is considered reportable interest. When savings bonds are cashed in, a 1099-INT is normally issued for any interest earned amount over $10. Savings Bonds are free from state and local taxes.

The bipartisan-approved program, adopted in October 2011, was a way to help small businesses stymied by the credit gap that dragged on after the 2008 recession, when banks were not lending.

A San Antonio woman was sentenced Thursday to 37 months in federal prison for pilfering nearly $300,000 from the payroll taxes of a local printing company.

Sooner or later, direct deposit recalls and NSFs (non-sufficient funds) trip up just about every payroll provider. And while a NSF on taxes or fees is usually small, a direct deposit NSF can cause big headaches for your firm.

New standards issued by the Government Accounting Standards Board mean that next summer local governments could see some impact in credit ratings or some influence on pension payments.

The Internal Revenue Service (IRS) needs to improve its strategy to ensure accurate reporting and payment of the Medical Device Excise Tax, according to a new report publicly released today by the Treasury Inspector General for Tax Administration (TIGTA).

As campaign season officially swings into high gear, here are the top five issues of importance to the country’s small business owners this election year.

Illinois overdrew money from a federal Medicaid account by an average of $60 million per quarter over a three-year period because of "faulty" and "imprecise" practices, according to a federal audit released Monday.