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Home / Archives for Damian Karjane

Damian Karjane

Damian Karjane

Damian Karjane

Damian Karjane is a Virginia-based tax attorney and co-founder of PayME, Payroll-filing Made Easy, which was founded in 2018 to help small businesses digitally file (or “e-file”) their payroll tax returns, with special emphasis on Form 941, Employer’s Quarterly Federal Tax Return, and Form 940: Employer’s Annual Federal Unemployment (FUTA) Tax Return. To learn more about PayME’s services or to contact an employment tax expert, please visit the company website. You can email Damian at info@paymellc.com.
Damian is also licensed in New York and Massachusetts, and has earned degrees and diplomas from Lafayette College, Rutgers - Camden Law School, Boston University School of Law, and the University of Limerick in Ireland.

IRS Fact Sheet Causes Reporting Confusion

Apr 25, 2022 By Damian Karjane

Congress created pandemic-related sick and family leave refundable credits for eligible employers. The rules apply slightly differently for leave taken 1) before April 1, 2021 (“Initial Period”) and 2) from April 1, 2021 through September 30, 2021 (“Voluntary Period”). In each period, the IRS allowed eligible employers to retain an amount of the payroll taxes […]

Filed Under: Finance, Tax and Accounting Tagged With: Tax Credits

Employers: IRS Changes Payroll Tax Form 941 For Q1 of 2022

Apr 4, 2022 By Damian Karjane

The IRS changed Form 941 for the first quarter of 2022 and warns taxpayers not to use an earlier version of the form. The IRS also indicated there is going to be a different Form 941 every quarter of 2022. Recall, Form 941, Employer’s Quarterly Federal Tax Return, is the federal form employers use to […]

Filed Under: Finance Tagged With: Taxes

Employers: What is Form 940 and Do I Need to FiLe it?

Jan 26, 2022 By Damian Karjane

Did you employ workers at your small business this year? If yes, you need to deal with employment taxes, like federal unemployment (“FUTA”) taxes.  For each employee, you must pay a percentage of his or her wages for federal unemployment taxes, deposit the tax with the IRS, and report your tax liability on Form 940. […]

Filed Under: Finance, Tax and Accounting Tagged With: Taxes

IRS Changes Payroll Form 941 for 2nd Quarter 2021

Jul 1, 2021 By Damian Karjane

what-to-keep-in-mind-during-your-first-year-as-an-s-corp

Recent legislation, designed to help small businesses harmed by COVID-19, has dramatically altered Form 941.  The June 2021 changes add over ten new lines and five new worksheets to an already complicated form. In general, Form 941 was updated to reflect provisions under the American Rescue Plan Act (ARP), enacted March 11, 2021. While the […]

Filed Under: Finance Tagged With: IRS, Payroll Tax

Employers: IRS Changes Payroll Tax Form 941 for Q1 2021

Mar 29, 2021 By Damian Karjane

5-tax-issues-that-cause-irs-trouble-for-1099-workers

In 2020, to combat the economic effects on small businesses caused by the COVID-19 pandemic, new legislation/executive actions drastically changed the format of Form 941, expanding it from two to three pages, and adding 58 new data fields.  Many the new relief measures were extended for businesses into 2021 (but not all). While the first […]

Filed Under: Finance Tagged With: Taxes

Employers Beware–Payroll Tax Form Has Changed Yet Again

Oct 19, 2020 By Damian Karjane

On September 30, 2020, the IRS updated Form 941, Employer’s Quarterly Federal Tax Return, for the second time in as many quarters to accommodate President Trump’s executive order. Recall, employers use Form 941 to report income taxes, Social Security tax, or Medicare tax withheld from employee’s paychecks. Employers should use this version to file their […]

Filed Under: Finance, Tax and Accounting Tagged With: Payroll Tax

Small Business Update: Trump’s Executive Order to Defer Payroll Taxes

Sep 15, 2020 By Damian Karjane

On August 8, 2020, to provide temporary assistance to workers who are facing financial burdens due to the pandemic, President Trump issued an executive order to defer the withholding, deposit and payment of certain payroll taxes until Jan. 1, 2021. On August 28, 2020, the IRS issued Notice 2020-65 (“Notice”) to provide implementation guidance. What […]

Filed Under: Finance, Tax and Accounting Tagged With: Payroll Tax

10 Facts Employers Need to Know About Payroll Tax Incentives

Jul 23, 2020 By Damian Karjane

Recent Covid-19 legislation creates new payroll tax incentives for employers, which fall into two main categories: Payroll Credits and Tax Deferral.  All these relief measures were established by the Families First Coronavirus Response Act (Families First Act), enacted March 18, 2020 and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted March 27, 2020. […]

Filed Under: Finance, Tax and Accounting Tagged With: Payroll Tax

Important: IRS Finalizes Changes to Payroll Tax Return Form 941

Jul 9, 2020 By Damian Karjane

On June 20, 2020, the IRS finalized tax Form 941, Employer’s Quarterly Federal Tax Return, to collect information about the new COVID-19 tax incentives, expanding the form from two to three pages, and adding 58 new data fields (previously 18 total lines).  See Appendix I: Summary of COVID-19 Employer Tax Incentives for more information. While the […]

Filed Under: Finance, Tax and Accounting Tagged With: Accounting, IRS, Taxes

8 Important e-File Tips for Form 941

Oct 25, 2019 By Damian Karjane

When people think about October, they usually think about the barrage of beasts, ghosts, and witches that invade city streets and delight passersby with colorful promises of delicious tricks and treats. But for small business owners, the month can be more macabre than merry thanks to complex and time-consuming payroll-tax forms (such as Form 941) […]

Filed Under: Tax and Accounting Tagged With: Taxes

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