Monday, October 12, 2009 will be Columbus Day, 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 10/12/09 10/7/09 10/13/09 10/8/09...
Under Title 26, Chapter 7, Subchapter 3, §664, of the Maine Revised Statutes, the minimum wage for the state of Maine will increase to $7.50 per hour effective October 1, 2009. Tip credits and occupational exemptions may apply so that a lower wage may be paid in...
The Internal Revenue Service (IRS) recently released Notice 2009-68, Safe Harbor Explanation – Eligible Rollover Distribution. Notice 2009-68 contains two safe harbor explanations that employers may use to provide recipients the written explanation of distributions...
This week’s question comes from Rick, a business owner in Manhattan. This week’s tax liability expense was larger than normal, mostly due to the New York MTA Payroll Tax. Why do I have a big withdrawal for MTA Payroll Tax this week? As previously reported, the...
According to the US Department of Labor, in the week ending September 19, the advance figure for seasonally adjusted initial claims was 530,000, a decrease of 21,000 from the previous week’s revised figure of 551,000. The 4-week moving average was 553,500, a decrease...
If not managed effectively, an employee’s absence from work - regardless of how short and temporary it may be - can strain resources and morale. Whenever an employee plans to or unexpectedly needs to take time off, our Leave of Absence Quick Guide will help guide you...
The Internal Revenue Service (IRS) recently released Notice 2009-67, Adding Automatic Enrollment to SIMPLE IRA Plans – Sample Amendment. Notice 2009-67 facilitates automatic enrollment by providing a sample plan amendment that a prototype sponsor of a SIMPLE IRA plan...
According to the California Employment Development Department (EDD), employers in the county of Imperial directly affected by the damage resulting from the severe storm may request up to a 60-day extension of time from EDD to file their State payroll reports and/or...
The Internal Revenue Service (IRS) recently released Notice 2009-66, Automatic Enrollment in SIMPLE IRAs. Notice 2009-66, in question-and-answer format, provides rules for employers that maintain SIMPLE IRA plans. It confirms that SIMPLE IRAs may do the following:...
The Internal Revenue Service (IRS) recently released Notice 2009-65, Adding Automatic Enrollment to Section 401(k) Plans – Sample Amendments. The Notice contains two sample amendments that allow employers to change existing §401(k) plans as late as the last day of the...
This week’s question comes from Michelle, a small business owner. I have not had to pay Massachusetts HICA tax all quarter. Now I have to pay it with the last payroll of the quarter. Why do we have to pay Massachusetts HICA tax this payroll? Answer: The Massachusetts...
According to the US Department of Labor, in the week ending September 12, the advance figure for seasonally adjusted initial claims was 545,000, a decrease of 12,000 from the previous week’s revised figure of 557,000. The 4-week moving average was 563,000, a decrease...
Employers are increasingly receiving requests for time off for employees to attend to their children’s school activities. It’s important to learn how state laws, company policies, and business needs impact such requests and how the leave is granted. Which employers...
Due to severe storms and flooding in New York on August 8, 2009, President Barack Obama declared the following counties a federal disaster area: Cattaraugus, Chautauqua and Erie. Therefore, the Internal Revenue Service (IRS) announced recently that it will waive...
The Internal Revenue Service (IRS) recently released Revenue Ruling 2009-32, Paid Time Off Contributions at Termination of Employment. This Revenue Ruling addressed two issues: Do the amendments described [in the ruling] to an existing qualified profit sharing plan...
The Internal Revenue Service (IRS) recently released Revenue Ruling 2009-31, Annual Paid Time Off Contributions. This Revenue Ruling addressed two issues: Do the amendments described [in the ruling] to an existing qualified profit sharing plan requiring or permitting...
The Internal Revenue Service (IRS) recently released Revenue Ruling 2009-30, Automatic Contribution Increases under Automatic Contribution Arrangements. This Revenue Ruling addressed two issues: Will default contributions to a profit-sharing plan fail to be considered...
This week’s question comes from Kim, a business owner. We have an employee who never shows up for work the Friday before a holiday. Can we require employees to work the day before or after a holiday? Answer: Employers may condition holiday pay on attendance, i.e.,...
According to the US Department of Labor, in the week ending September 5, the advance figure for seasonally adjusted initial claims was 550,000, a decrease of 26,000 from the previous week’s revised figure of 576,000. The 4-week moving average was 570,000, a decrease...
The Treasury Department recently released the following statement by Treasury Secretary Tim Geithner: “[Recently], the Administration announced steps we are taking to make it easier for working families to save, particularly for retirement. Working Americans should be...
Effective February 26, 2010, Iowa Workforce Development will no longer accept magnetic media (CDs or diskettes) for filing unemployment insurance data. Any magnetic media submitted after February 26, 2010 will not be processed. The options for employers required to...
According to information provided by the Iowa Department of Revenue, the withholding tables for Iowa income tax will not change for 2010. The current tables, used for 2009 withholding, became effective April 1, 2006. Contact Vision Payroll if you have any questions on...
Iowa Workforce Development has announced that the 2010 unemployment rates will be based on Table 4; 2009 rates are based on Table 6. This move to higher rates is required to maintain the solvency of the Trust Fund used to provide unemployment benefits. According to...
Nonfarm payroll employment continued to decline in August (-216,000), and the unemployment rate rose to 9.7%, the US Bureau of Labor Statistics reported recently. Although job losses continued in many of the major industry sectors in August, the declines have...
This week’s question comes from Ryan, a small-business owner. We’re going to be closed next Monday for Labor Day. We have some full-time employees and some part-time employees. Do I have to pay employees for holidays? Answer: There is no requirement in the Fair Labor...
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