Foundation for Economic Education: Why a New Internal Revenue Service Change Will Push Some Entrepreneurs Into Corporate Desk Jobs
December 12, 2023
December 12, 2023
DETROIT, Michigan, Dec. 12 -- The Foundation for Economic Education issued the following news:
As the end of the year approaches, the IRS has announced its new late repayment penalty rate. The rate has climbed from around 3% two years ago to 8% today.
Most workers in the US are W-2 employees and have taxes deducted from their paychecks each pay period. However, if those employees claim more exemptions, the taxes deducted from each check decrease.
At the end . . .
As the end of the year approaches, the IRS has announced its new late repayment penalty rate. The rate has climbed from around 3% two years ago to 8% today.
Most workers in the US are W-2 employees and have taxes deducted from their paychecks each pay period. However, if those employees claim more exemptions, the taxes deducted from each check decrease.
At the end . . .