California Is a Credit Reduction State for 2011

According to the California Employment Development Department, California will be a FUTA tax credit reduction state in 2011. Standard Credit Rates Is 5.4% for 2011 Generally, employers who pay their state unemployment tax by the due date for filing Form 940,...

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Vermont Minimum Wage to Increase to $8.46 January 1, 2012

The Vermont Department of Labor announced recently that pursuant to Title 21 of the Vermont Statutes, Annotated §384, the minimum wage for the state of Vermont will increase from $8.15 to $8.46 per hour effective January 1, 2012. The law requires an adjustment to the...

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IRS Plans to Release New Form for Business Address Changes

The Internal Revenue Service (IRS) has released a draft of a new form, Form 8822-B, Change of Address—Business. The new form will be used to notify the IRS if you changed your business mailing address or your business location. IRS Uses USPS National Change of Address...

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IRS Rules on Deductibility of Accrued Bonuses

In Revenue Ruling 2011-29, the Internal Revenue Service (IRS) ruled that a taxpayer can establish the “fact of the liability” under §461 for bonuses payable to a group of employees even though the employer does not know the identity of any particular bonus recipient...

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October 2011 Disability Employment Statistics Released

According to statistics released by the US Bureau of Labor Statistics (BLS), in October 2011, the percentage of people with disabilities in the labor force was 21.3, up from 21.1 in September. By comparison, the percentage of persons with no disability in the labor...

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Unemployment Rate Fell To 9.0 Percent in October

Nonfarm payroll employment continued to trend up in October (+80,000), and the unemployment rate was little changed at 9.0%, the US Bureau of Labor Statistics reported today. Employment in the private sector rose, with modest job growth continuing in professional and...

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IRS Releases 2011 Form 945

The Internal Revenue Service (IRS) has released the 2011 version of Form 945, Annual Return of Withheld Federal Income Tax, and related instructions. Form 945 Is to Report Withheld Federal income Tax on Non-Payroll Payments Taxpayers may use Form 945 to report...

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IRS Releases 2011 Form 944

The Internal Revenue Service (IRS) has released the 2011 Form 944, Employer’s ANNUAL Federal Tax Return, and related instructions. Form 944 is designed so the smallest employers (those whose annual liability for social security, Medicare, and withheld federal income...

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