The new health reform law gives a tax credit to certain small employers that provide health care coverage to their employees, effective with tax years beginning in 2010. Over the next several weeks, Vision Payroll will be providing further information on the Small...
According to the California Employment Development Department (EDD), employers in the county of Imperial directly affected by the earthquake may request up to a 60-day extension of time from EDD to file their State payroll reports and/or deposit State payroll taxes...
Due to the severe storms, flooding, mudslides and landslides in New Jersey beginning March 12, 2010, President Barack Obama declared the following counties a federal disaster area: Atlantic, Bergen, Burlington, Cape May, Cumberland, Essex, Gloucester, Mercer,...
This week’s question comes from Franz, a small-business owner. We provide health insurance for our employees. We heard that we can get a credit on our tax return this year. What is the Small Business Health Care Tax Credit? Answer: the Small Business Health Care Tax...
According to the US Department of Labor, in the week ending April 3, the advance figure for seasonally adjusted initial claims was 460,000, an increase of 18,000 from the previous week’s revised figure of 442,000. The 4-week moving average was 450,250, an increase of...
The Internal Revenue Service (IRS) has released Form W-11, Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit. Employers can use Form W-11 to confirm that an employee is a qualified employee under the HIRE Act. Alternatively, they can use another...
Due to the severe storms, flooding, mudslides and landslides in West Virginia beginning March 12, 2010, President Barack Obama declared the following counties a federal disaster area: Fayette, Greenbrier, Kanawha, Mercer and Raleigh. Therefore, the Internal Revenue...
Due to the severe storms and flooding in Massachusetts beginning March 12, 2010, President Barack Obama declared the following counties a federal disaster area: Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk and Worcester. Therefore, the Internal Revenue...
Due to the severe storms and flooding in Rhode Island beginning March 12, 2010, President Barack Obama declared the following counties a federal disaster area: Bristol, Kent, Newport, Providence and Washington. Therefore, the Internal Revenue Service (IRS) announced...
Nonfarm payroll employment increased by 162,000 in March, and the unemployment rate held at 9.7%, the US Bureau of Labor Statistics reported recently. Temporary help services and health care continued to add jobs over the month. Employment in federal government also...
This week’s question comes from Andrew, a company president. We know that we can receive a payroll tax exemption and income tax credit under the HIRE Act if we hire certain unemployed workers. We need qualified employees to sign an affidavit to prove they are...
According to the US Department of Labor, in the week ending March 27, the advance figure for seasonally adjusted initial claims was 439,000, a decrease of 6,000 from the previous week’s revised figure of 445,000. The 4-week moving average was 447,250, a decrease of...
Employers must constantly navigate a minefield of state and federal wage and hour laws. Effectively avoiding common employer pitfalls could save your business thousands of dollars every year. How do you determine which workers should be classified as independent...
The US Department of Labor recently announced the publication of a final rule to protect employee contributions deposited to small pension and welfare benefit plans with fewer than 100 participants by providing a safe harbor period of seven business days following...
The Massachusetts Division of Unemployment Assistance (DUA) has released the 2010 employer contribution rates for unemployment taxes. Employers may check their rate using QUEST. Rates were determined using Schedule E, the same schedule as was used in 2009. Even though...
The Massachusetts Division of Unemployment Assistance (DUA) has released the UHI contribution rates for 2010. According to MGL c. 151A, §14G(f): There shall be a rate review board composed of the commissioner of medical assistance or his designee, the deputy director...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. In order to qualify under the HIRE Act, the wages must be paid by a qualified employer “with respect to...
This week’s question comes from Sean, an HR director. We are in the process of hiring some employees who would allow us to claim exemption from paying the employer’s share of social security taxes because of the HIRE Act. Some employees are hesitant due to the impact...
According to the US Department of Labor, in the week ending March 20, the advance figure for seasonally adjusted initial claims was 442,000, a decrease of 14,000 from the previous week’s revised figure of 456,000. The 4-week moving average was 453,750, a decrease of...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Employers who claim the exemption under the HIRE Act may not claim the Work Opportunity Tax Credit with...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Exempt wages are those paid “with respect to employment during the period beginning [March 19, 2010] and...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Most employers are eligible for this exemption. According to the HIRE Act, a “qualified employer” is any...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Employees are not eligible under the HIRE Act if the employee is “employed by the qualified employer to...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Under the HIRE Act, certain related individuals as described in §51(i)(1) of the Internal Revenue Code of...
This week’s question comes from Donna, an HR Director. I read how we can get a payroll tax credit for hiring unemployed workers. How do we know if an employee qualifies us for the new payroll tax credit for hiring unemployed workers? Answer: The Internal Revenue...
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