Varun Murthy

As an S-corp, you can offer taxable fringe benefits to cover medical expenses to your workers as taxable income. As an S-corp owner, you can also participate in your taxable health benefit as long ...

Determining your federal deposit schedule is important for employers responsible for withholding and depositing payroll taxes. The schedule dictates how often you need to deposit these taxes with t...

IRS Form 8655, also known as the "Reporting Agent Authorization," is a document utilized by the Internal Revenue Service (IRS) in the United States. Its purpose is to grant authorization to an indi...

A Federal Employer Identification Number (FEIN) is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify businesses operating in the United States. This number is us...

The Federal Unemployment Tax Act (FUTA) tax is a federal payroll tax in the United States that employers are required to pay to fund unemployment benefits for workers who have lost their jobs. FUTA...

This article explains the basics of FICA tax in a simplified way, covering what it is, how it's calculated, and why it matters. 1. What is FICA Tax? FICA stands for the Federal Insurance Contributi...

A federal deposit schedule, also known as a Federal Tax Deposit Schedule, is like a timetable set up by the IRS to help businesses pay their federal taxes. These taxes include things like income ta...

What is Federal Income Tax? Federal Income Tax (FIT) is levied by the Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities. Federal i...

Sometimes employees will want to set up a specific federal income tax withholding amount to be deducted from each pay check, rather than using the standard W4 calculations. Sometimes this amount...

If you need to contact the IRS to request an official document to confirm your business information, follow the steps below:   Call +1 (800)829-4933. You can reach the IRS Business and Specialty T...