Watch your thoughts, they become your words. Watch your words, they become your actions. Watch your actions, they become your habits. Watch your habits, they become your character. Watch your character, it becomes your destiny. –Frank Outlaw
The IRS requires that employees be taxed on the value of group term life insurance in excess of $50,000. The taxable value of this coverage is called imputed income. The income is “imputed” in that employees did not receive the premium amount, but rather received coverage, the value of which represents income. The IRS applies […]
The due date for filing 2016 Forms W-2 and W-3 is now January 31, 2017, whether you file using paper forms or electronically. This is substantially earlier than the deadline in prior years. Higher penalties will apply for failure to file correct Forms W-2 by the due date!