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In an Aug. 24 news release, the IRS reminded employers that they can offer workers up to $5,250 tax-free annually as part of their educational assistance benefits.
Total self-employment tax: 15.3%. When you have a regular employer, your employer usually pays for half of these taxes. This means you’d only have to pay 7.65% in Social Security and Medicare taxes.
Stay updated on the news about taxes, deadlines, deductions, laws, the IRS, and all things related to your income taxes.
Preparing and filing taxes can be expensive, but free or cheap options are available to most Americans.
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
If you owe federal income tax and can't pay in full, the IRS Fresh Start program can help you get caught up. Fresh Start was established by the federal government in 2011 to offer some relief to ...
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