The New York State Department of Taxation and Finance (NYSDTF) has the ability to conduct audits of businesses in many situations to ensure that they have paid the full amount of taxes. One common form of audit scrutinizes whether businesses…
Federal law requires that you file an income tax return by April 15th and pay all of the money that you may owe to the IRS by that time. You may face a variety of consequences and penalties if you…
Certain federal taxes are deposited into a trust fund once they are collected, including: Federal income taxes Social Security taxes Medicare taxes Businesses must withhold these taxes from an employee’s paycheck and send them to the IRS. The timing of…