IRS and states recently affected by Hurricane Sandy will extend tax deadlines and waive some penalties to tax payers affected by this natural disaster.
IRS and states recently affected by Hurricane Sandy will extend tax deadlines and waive some penalties to tax payers affected by this natural disaster.
Topics: nanny income tax, nanny payroll tax, nanny tax, household payroll tax, nanny tax compliance
Many people hear the words "nanny confidentiality agreement" and think this is something Brad and Angelina need - not their family!
Topics: nanny employment practices, nanny work agreement, nanny contract
Tax Commissioner Craig M. Burns has announced that Virginia will provide a penalty waiver to those individuals and businesses affected by Hurricane Sandy. This penalty waiver applies to any late returns filed or payments made by affected taxpayers between October 29, 2012 and November 9, 2012. To notify the Department of Taxation that you were affected by Hurricane Sandy, you must write “Hurricane Sandy” at the top of your return. The Department of Taxation will then abate any late-filing or late-payment penalties that would otherwise apply.
To qualify for this penalty waiver, taxpayers must be unable to meet their filing obligations because the financial books and records they need to file their taxes are unavailable because of hurricane damage or power outage.
Topics: nanny payroll tax, household payroll tax
Household employers in New York directly affected by Hurricane Sandy have until November 14, 2012 to file and pay Quarter 3 2012 employment taxes via NYS-45. "Directly affected" is defined in the notice linked below.
There is no extension for NYS-1 withholding tax payment deadlines.
Sharing with you an article prepared by a CPA as part of an October series titled "Women, Work and Money." The series is sponsored by a generous grant from the Jewish Women’s Foundation of New York.
Topics: nanny payroll, nanny tax
The IRS has issued interium guidance and a detailed FAQ on changes to the Individual Taxpayer Identification Number (ITIN) application process. An ITIN is a number similar to a Social Security number which is issued by the IRS to taxpayers who are not eligible for Social Security numbers but need a tax identification number for tax filing and other purposes. Household employees who are not eligible for a SSN are almost always aliens working without valid US work authorization. Families who hire these undocumented workers are in violation of US immigration law and are still legally responsible to report and pay all employment taxes.The IRS is making changes to the ITIN application process in response to documented tax fraud associated with these identification numbers.
A quick update for HomeWork Solutions' clients and their caregivers...
Topics: nanny payroll
Many employees are not aware of what is being deducted from their paycheck. Household employees in particular (nannies, housekeepers, elder caregivers etc.) often are paid by personal check, do not have a pay stub, and work with families who themselves are not familiar with payroll and employment taxes.
Topics: nanny share, nanny payroll tax, calculate nanny payroll tax
If you are a Kentucky resident and have unpaid state taxes, penalties, fees and interests … we may have good news for you!
The Kentucky Department of Revenue has put in place a Tax Amnesty Program. Tax payers with past due bills from December 1, 2001 to October 1, 2011 have the opportunity to clear their delinquencies and start over with the department.
From October 1st 2012 to November 30th 2012, you can apply for Tax Amnesty from the Kentucky Department of Revenue. Your situation will be evaluated and if you qualify, you will only owe the past due taxes and half of the interest on your bill. Any penalties and half of your interest will be waived.
This isa one time only program for Kentucky; don’t let this opportunity slipthrough your fingers. This program is open for Household Employers as well. There is no second chance, after the November 30th deadline, you will not only be unable to apply, but penalties, fees and interest will also increase.
For more information, visit the KY website: http://www.amnesty.ky.gov/
Topics: nanny payroll tax, household payroll tax
Note: Special thanks to our guest blogger, author Marta Perrone (The Professional Housekeeper). Marta is an expert in the household staffing industry. We are pleased to share her discussion on transitioning a nanny to the nanny/housekeeper role. Marta is a professional trainer of housekeepers, nannies and household managers.
Topics: housekeeper, nanny, nanny job description