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Monthly Archives: February 2012

What is the Texas Franchise Tax?

Posted on February 22, 2012 by Linda Silva

The Texas franchise tax is a privilege tax imposed on each taxable entity chartered/organized in Texas or doing business in Texas. It is a tax on corporations and other business entities that do business in Texas.

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Congress Extends Payroll Tax Cut

Posted on February 20, 2012 by Linda Silva

Congress has extended the employee-side payroll tax cut through the end of 2012. After weeks of uncertainty over whether an agreement could be reached, the House passed the Middle Class Tax Relief and Job Creation Act of 2012 (H.R. 3630) by a vote of 293 to 132 on February 17, 2012. Senate approval quickly followed, also on February 17, by a vote of 60 to 36.

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Posted in Payroll

Check Your Non-Profit’s Tax Exempt Status

Posted on February 14, 2012 by Linda Silva

Is your non- profit organization still a non-profit as far as the IRS is concerned? There is an online tool for exempt organizations available on the IRS website.

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Missing W-2 Form Tips

Posted on February 14, 2012 by Linda Silva

The IRS has released a tax tip advising taxpayers missing a Form W-2, Wage and Tax Statement (IRS Tax Tip 2012-20). Employers should have mailed or hand delivered a Form W-2 for each of their employees by January 31, 2012, for wages paid in calendar year 2011.

The IRS recommends taxpayers follow four steps if they have not received a Form W-2:

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Posted in Employees, Tax Articles