02/03/2014
In the movie “Groundhog Day,” the protagonist was destined to repeat the same day over and over again. If you’ll be e-filing your W-2s using the Social Security Administration’s EFW2 filing specs, you can avoid repeating filing mistakes by taking a stroll through this checklist.
02/03/2014
In Watson v. U.S., an appellate court ruled that the IRS can recharacterize FICA-free distributions from S corps to their owners as FICA-taxable compensation, and allowed the IRS to set the parameters for determining that reasonable FICA-taxable salary. And so far it’s nailed S corps and their owners 100% of the time. Two recent cases illustrate.