Recover Lost or corrupted quickbooks data files in Just a Few Minutes!
We are the leaders in critical quickbooks support. If you lose data from your quickbooks due to physical damages, deletion, formatting, virus attack, drive failure, etc. In such a case, we can recover data from quickbooks to save you from the disaster.
We can help you to repair damaged QuickBooks filesA Primer On Employment Tax WithholdingBig Changes In White House Ideas To Pay For $2 Trillion PlanStrategies To Lower Your 2021 Tax Bill — And Line Up Future Tax Savings that can not be opened. Recover current data files by updating an old QuickBooks file or backup with current information from the transaction log.
For all Quickbooks Data Loss Situations and to seek professional data recovery service.
When the IRS is involved, monetary transactions are never as simple as they appear on the surface—especially when it comes to employment taxes. The late, great comedian Mitch Hedberg once told a story about being given a receipt after buying a doughnut: I bought a doughnut, and they gave me a receipt for the doughnut. I don’t need a receipt for the doughnut. I’ll just give you the money, and you give me the doughnut, end of transaction. We don’t need to bring ink and paper into this. I just can’t imagine a scenario where I would have to prove that I bought a doughnut. Some skeptical friend: “Don’t even act like I didn’t get that doughnut! I got the documentation right here…oh, wait it’s at home…in the file…under “D.” When it comes to the payment of wages, ink and paper are always required. Think of the IRS as Mitch’s skeptical friend. The IRS will zealously require proof of the doughnut transaction, which is a complex (and wholly impertinent) metaphor for the payment or wages and the concomitant withholding and proper deposit of employment taxes with the government.
If a person responsible for withholding and paying over employment taxes to the government fails to do so, and such failure is “willful,” then that responsible person may find himself personally liable for the taxes due to the government under IRC 6672 (Trust Fund Recovery Penalty). However, that’s a story for another post. An Introduction to Employment Tax Withholding Understanding full well that I am being, perhaps, overly pedantic—it is necessary to state the obvious: in order for employment tax liability to arise, there must be an employer, an employee, and a payment of wages or other compensation. Employers do not withhold from the compensation paid to (true) independent contractors; though the independent contractors are subject to self-employment taxes, which carry their own tax issues.
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