Blog
IRS Confirms It Sent Incorrect Penalty Notices
In IMRS10-0001357, the Internal Revenue Service (IRS) confirmed that erroneous CP 276B and CP 207 notices were sent to several taxpayers. IMRS Addresses Significant Issues Regarding IRS Policies,...
IRS Announces Lactation Expenses Qualify as Deductible Medical Expenses
In Announcement 2011-14, the Internal Revenue Service (IRS) “has concluded that breast pumps and supplies that assist lactation are medical care under § 213(d) of the Internal Revenue Code because,...
IRS Releases Draft Form 941
The Internal Revenue Service (IRS) recently released a draft Form 941, Employer’s QUARTERLY Federal Tax Return. The revised Form 941 will be used for reporting information for the first quarter of...
Question of the Week: What Are the Updated Standard Industry Fare Level Rates?
This week’s question comes from Trevor, a company president. Some of our employees use our company aircraft for personal purposes. We need to value this and include it income for those employees....
Unemployment Insurance Weekly Claims Report Update for February 19, 2011
According to the US Department of Labor, in the week ending February 19, the advance figure for seasonally adjusted initial claims was 391,000, a decrease of 22,000 from the previous week’s revised...
Tip of the Week: Second Quarter Interest Rates Increase
In IR-2011-017, the Internal Revenue Service (IRS) announced that interest rates for the second quarter of 2011 would increase from the first quarter. The rates are as follows: Four (4) percent for...
Iowa to Require Child Support Payments by EFT
The Iowa Department of Human Services has amended Chapter 97, “Collection Services Center,” Iowa Administrative Code to require submission of child support payments by means of electronic funds...
Massachusetts Freezes Unemployment Tax Rate Schedule for 2011
Governor Deval Patrick recently signed legislation that will provide immediate relief to Massachusetts’ businesses by freezing employer contributions to the Unemployment Insurance (UI) Trust Fund at...
Massachusetts Releases 2011 UHI Contribution Rates
The Massachusetts Division of Unemployment Assistance (DUA) has released the UHI contribution rates for 2011. According to MGL c. 151A, §14G(f): There shall be a rate review board composed of the...
January 2011 Disability Employment Statistics Released
According to statistics released by the US Bureau of Labor Statistics (BLS), in January 2011, the percentage of people with disabilities in the labor force was 20.1. By comparison, the percentage of...
