Articles
Quarterly Estimated Tax Payments in 2026: A Comprehensive Guide to Compliance and Penalty Avoidance
The U.S. tax system operates on a “pay-as-you-go” basis. While W-2 employees generally satisfy this requirement through employer withholding, business owners, freelancers, and high-net-worth investors often face a different reality. For these taxpayers, the responsibility shifts from the employer to the individual to ensure the IRS receives its share throughout the year. As we navigate…
Read MorePreparing for New Tips and Overtime Reporting Requirements in 2026
Preparing for New Tips and Overtime Reporting Requirements in 2026 The tips and overtime reporting requirements 2026 will introduce significant payroll reporting changes for employers in the United States. Beginning with the 2026 tax year (Forms issued in early 2027), businesses must separately report qualified tip income and overtime premium pay on employee wage statements.…
Read MoreRequired Electronic IRS Payments: What You Need to Know Before 2025
Why the IRS Is Moving to Electronic Payments The IRS is modernizing the way taxpayers handle finances. Starting September 30, 2025, most paper refund checks will be phased out. While traditional methods like paper checks, EFTPS, and IRS Direct Pay remain temporarily, switching to electronic payments now ensures faster, safer, and more easily tracked transactions.…
Read MoreThe High Cost of Worker Misclassification: Tax Implications and Risks
The consequences of misclassifying an employee as an independent contractor can be costly. You could be liable for back taxes (including the employee’s shares of unpaid payroll and income taxes), penalties and interest. There may be serious nontax consequences as well. How Important Is This? Businesses must withhold federal and state income taxes and the…
Read MoreJarrard, Nowell & Russell, LLC moves in, moves on
Charleston, S.C. –Jarrard, Nowell & Russell, LLC (JNR), a Charleston-based accounting and business advisory firm, has completed the relocation of three of its Lowcountry offices to new, larger quarters at 9403 Highway 78 on Ingleside Boulevard, Suite 201, in Ladson. Based in Charleston, S.C., since its founding in 2005, Jarrard, Nowell & Russell, LLC, has…
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