Mastering Form W-2 Box 1: The Ultimate Breakdown for Employers
Form W-2 Box 1 might seem like just another field on a tax form, but don’t underestimate its significance. It’s the foundation of income tax reporting, summarizing an employee’s taxable wages. The IRS scrutinizes this field closely, and inaccuracies can lead to penalties, tax audits, and frustrated employees. For employers, getting Box 1 right is […]
Compliance Tax Deadlines July 2024: Key Dates and Requirements
Staying Compliant with Tax and HR Deadlines Staying compliant with tax and HR deadlines is crucial for any business. Therefore, here are the important compliance tax deadlines for July 2024. Important Compliance Tax Deadlines for July 2024 Employee Tip ReportingDeadline: July 10, 2024 Ensure employees report tips over $20 earned in June of 2024 by […]