Employers must withhold federal, state, local, and Federal Insurance Contributions Act (FICA) taxes from their employees’ paychecks. FICA includes Medicare and Social Security taxes. An employee’s completed Form W-4, Employee’s Withholding Certificate, determines how...
taxes
IRS highlights key forms, topics for tax-exempt organizations ahead of May 15 filing deadline
WASHINGTON — As the May 15 filing deadline approaches for tax-exempt organizations, the Internal Revenue Service highlights important forms and topics to ensure successful and timely filing. The annual filing due date for certain returns filed by tax-exempt...
HSAs and Taxes
Health savings accounts or HSAs are a tax-favored account, similar to a savings or investment account, owned by the individual. One of the most attractive features of an HSA is the special tax rules that apply. Federal Taxes HSAs enjoy what is known as a triple tax...