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US IRS Flags Deadline For Q2 Estimated Tax Payments
US IRS Flags Deadline For Q2 Estimated Tax Payments
by Mike Godfrey, Tax-News.com, Washington
09 June 2021
The US Internal Revenue Service has issued a reminder to taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without incurring a penalty.
Estimated tax is the method used to pay tax on income that isn t subject to withholding, including income from self-employment, interest, dividends, rent, gains from the sale of assets, prizes, and awards. Taxpayers may also have to pay estimated tax if the amount of income tax withheld from a salary, pension, or from other income isn t sufficient.
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Mexico Enacts Outsourcing Tax Law Changes
Mexico Enacts Outsourcing Tax Law Changes
by Mike Godfrey, Tax-News.com, Washington
09 June 2021
Mexico has recently enacted legislative amendments to various tax laws in a bid to restrict the ability of companies to enter into outsourcing arrangements.
The changes are intended to prevent companies from circumventing obligations that would apply to them if they engaged their workforce directly, not only in relation to income tax and social security contributions but also the obligation to pay employees a share of company profits. The new law caps such shares of profits at the greater of either: three months salary, or the average amount of such payments in the past three years.
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