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IRS Releases 2011 Publication 15-B
The Internal Revenue Service (IRS) recently released an updated version of Publication 15-B, Employer’s Tax Guide to Fringe Benefits. Publication 15-B Focuses on Taxation of Fringe Benefits...
Social Security Tax Reduction Will Have No Direct Impact on Benefits
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (2010 Tax Act) reduces the social security tax withholding rate from 6.2% to 4.2 % effective with payments made...
IRS Releases 2010 Form 940
The Internal Revenue Service (IRS) has released the 2010 Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, and accompanying instructions. Employers use Form 940 to report their...
Question of the Week: How Does the 2010 Tax Act Affect Payroll Taxes in 2011?
This week’s question comes from Matt, a company president. I know the tax bill has passed the Senate and House and that President Obama has signed it. How does the new tax bill affect payroll taxes...
Unemployment Insurance Weekly Claims Report Update for December 11, 2010
According to the US Department of Labor, in the week ending December 11, the advance figure for seasonally adjusted initial claims was 420,000, a decrease of 3,000 from the previous week’s revised...
Tip of the Week: First Quarter Interest Rates Decrease
In IR-2010-120, the Internal Revenue Service (IRS) announced that interest rates for the first quarter of 2011 would decrease from the fourth quarter. The rates are as follows: Three (3) percent for...
Utah Unemployment Wage Base to Increase to $28,300 for 2011
The Utah Department of Workforce Services has announced an increase in the taxable wage base for 2010. The wage base will increase from $28,300 for 2010 to $28,600 for 2011. Minimum Tax Rate Doubles...
New Year’s Day Holiday May Require Change in Processing Schedule
Saturday, January 1, 2011 will be New Year’s Day, a federal holiday. The offices of Vision Payroll will close New Year’s Eve, December 31 at 2 pm EST and re-open Monday January 3. Most banks will...
Colorado Minimum Wage to Increase to $7.36 Effective January 1, 2011
The Division of Labor of the Colorado Department of Labor and Employment recently promulgated Colorado Minimum Wage Order 27, which increases, effective January 1, 2011, the minimum wage for the...
Tuolumne County Employers May Request 60-Day Extension
According to the California Employment Development Department (EDD), employers in the county of Tuolumne directly affected by the winter storms may request up to a 60-day extension of time from EDD...
