This week’s question comes from Rick, a corporate controller. We received a notification from our state unemployment agency that we may want to make a voluntary payment toward SUTA. Should we make a voluntary additional payment? Answer: For employers that are in...
According to the US Department of Labor, in the week ending January 10, the advance figure for seasonally adjusted initial claims was 524,000, an increase of 54,000 from the previous week’s revised figure of 470,000. The 4-week moving average was 518,500, a decrease...
The Internal Revenue Service (IRS) is warning taxpayers to be on the lookout for phony e-mails that appear to be from IRS employees. The e-mails attempt to get personal information such as social security numbers, account numbers, and passwords that may be used in...
The United States Citizenship and Immigration Services (USCIS) has submitted an interim final rule to change Form I-9, Employment Eligibility Verification. The rule will become effective February 2, 2009. There are three categories of documents that employers may use...
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 considered furnished if properly addressed. Employers unable to meet...
Nonfarm payroll employment declined sharply in December, and the unemployment rate rose from 6.8% to 7.2%, the Bureau of Labor Statistics of the US Department of Labor reported recently. Payroll employment fell by 524,000 over the month and by 1.9 million over the...
Roger B. Madsen, Director of the Idaho Department of Labor announced recently that the 2009 unemployment wage will increase from $32,200 to $33,200. In addition, tax rates (including the workforce rate) will range from 0.447% to 5.4% and the standard rate will be...
This week’s question comes from Rob, a business owner. I paid all my federal and state unemployment taxes and didn’t lay anyone off. Why is my unemployment rate going up? Answer: Generally, your state unemployment rate is determined by the ratio of your account...
According to the US Department of Labor, in the week ending January 3, the advance figure for seasonally adjusted initial claims was 467,000, a decrease of 24,000 from the previous week's revised figure of 491,000. The 4-week moving average was 525,750, a decrease of...
This New Year’s you may have resolved to lose more weight, spend more time with family, or be nicer to your payroll service. Hopefully, you haven’t broken all those resolutions yet. It’s not too late to make some work-related resolutions you can stick to. High on that...
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 considered furnished if properly addressed. Employers unable to meet...
Monday, January 19, 2009 will be the Birthday of Martin Luther King, Jr., a federal holiday. Although the offices of Vision Payroll will be open and payrolls will be processed, most banks will be closed in observance of the holiday. Date Paid Process Deadline 1/19/09...
Maureen T. O’Donnell, Director of the State of Illinois Department of Employment Security announced recently that the 2009 unemployment wage base has increased from $12,000 to $12,300. O’Donnell, appointed by Governor Rod R. Blagojevich in August, had served as Acting...
The Internal Revenue Service (IRS) recently released 2009 Form W-5, Earned Income Credit Advance Payment Certificate. There are four criteria for claiming advance earned income credit (EIC) payments. Taxpayer (and spouse if filing jointly) must have a valid social...
This week’s question comes from Scott, a small business owner. I have received notification from the Internal Revenue Service (IRS) that I should file Form 944. Should I file Form 944 instead of Form 941? Answer: Employers who are notified that they should file Form...
According to the US Department of Labor, in the week ended December 27, the advance figure for seasonally adjusted initial claims was 492,000, a decrease of 94,000 from the previous week’s unrevised figure of 586,000. The 4-week moving average was 552,250, a decrease...
Employees who have provided a Form W-4, Employee’s Withholding Allowance Certificate claiming exemption from federal income tax withholding must file a new 2009 Form W-4 by February 16, 2009 in order to continue their exemption from federal income tax withholding....
The Internal Revenue Service has released an updated version of Publication 1494, Tables for Figuring Amount Exempt from Levy on Wages, Salary, and Other Income (Forms 668-W(C), 668-W(c)(DO) and 668-W(ICS)). The table is used to calculate the amount of wages and other...
The Internal Revenue Service recently released an updated version of Publication 15-B, Employer’s Tax Guide to Fringe Benefits. Publication 15-B provides an overview of fringe benefits as well as sections on fringe benefit exclusion rules and fringe benefit valuation...
According to a recent article in the Wall Street Journal, celebrity chef Wolfgang Puck would like to eliminate the minimum wage for waiters. In a story on resolutions for 2009, Puck was asked, “What problem should your industry or professional community tackle more...
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 which types of payments are considered wages for federal employment tax...
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 bonus for federal income tax. Why did my federal income tax...
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 figure of 556,000. The 4-week moving average was 558,000, an increase...
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. Generally, wages are reported based on payment date. For example, if the...
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 considered furnished if properly addressed. Employers unable to meet...
Connect with Vision Payroll
Streamline Your Hiring
Process With
