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IRS Releases Publication 15 for 2009
The Internal Revenue Service recently released an updated version of Publication 15, (Circular E) Employer’s Tax Guide. In addition to providing information on classifying employees, determining...
Question of the Week: Why Did My Federal Income Tax Withholding Increase?
This week’s question comes from Madeleine, an executive. I’ve averaged about 30% of my pay going toward federal income tax withholding each pay period. This week I had 35% of my pay withheld from my...
Unemployment Insurance Weekly Claims Report Update for December 20, 2008
According to the US Department of Labor, in the week ended December 20, the advance figure for seasonally adjusted initial claims was 586,000, an increase of 30,000 from the previous week's revised...
Tip of the Week: Pay Employees in the Correct Year
Employers often question whether employees who work in one year and are paid in the next year should have the wages reported in the year the work was performed or the year the wages were paid....
2008 Form W-2 Tips, Part 3, Box 2 Federal Income Tax Withheld
This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are...
Penalties Proposed for Adults without Health Insurance
The Commonwealth of Massachusetts Department of Revenue has released a working draft of TIR 09-1, Individual Mandate Penalties for Tax Year 2009, which would provide the penalties in 2009 for adults...
2008 Form W-2 Tips, Part 2, Box 1 Wages, Tips, Other Compensation
This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are...
President-Elect Obama Nominates Solis to Cabinet Post
President-Elect Barack Obama recently nominated Rep. Hilda Solis (D-CA) to be the new Secretary of Labor. Solis, 51, has served four terms in the House of Representatives and recently won a fifth...
Question of the Week: Do I Need to Withhold Tax on Distributions to Partners and S Corporation Shareholders?
This week’s question comes from Nicole, an office manager. Our business is formed as two entities, an S corporation and a partnership. We’re located in Massachusetts. Do I now need to withhold...
Unemployment Insurance Weekly Claims Report Update for December 13, 2008
According to the US Department of Labor, in the week ended December 13, the advance figure for seasonally adjusted initial claims was 554,000, a decrease of 21,000 from the previous week’s revised...
