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, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, and Union. Therefore, the Internal Revenue Service (IRS) announced recently that it will waive failure to deposit penalties for employment and excise taxes due after March 11, 2010 and before March 30, 2010 as long as the deposits were made by March 29, 2010. In addition, affected taxpayers will have until May 11, 2010 to file most tax returns. Contact Vision Payroll if you were affected by the severe storms, flooding, mudslides and landslides and need further information on the relief provided by the IRS.
The New Jersey Department of Labor and Workforce Development has announced the wage base for New Jersey unemployment insurance, temporary disability insurance, and family leave insurance will increase from $28,900 to $29,700 for 2010. Contact Vision Payroll if you have any questions on the New Jersey unemployment taxable wage base or visit our Unemployment Taxable Wage Base page.
The federal minimum wage will increase to $7.25 on Friday, July 24, 2009. Therefore, all work performed after July 23, 2009 should be compensated at the higher rate. In addition, the minimum wage will also increase to $7.25 in the following areas: Delaware, Idaho, Indiana, Maryland, Missouri, Montana, Nebraska, New Jersey, New York, North Carolina, North Dakota, Oklahoma, Pennsylvania, Puerto Rico, South Dakota, Texas, Utah, Virginia, and Wisconsin. Also, the minimum wage in the District of Columbia will increase to $8.25. Contact Vision Payroll if you have any questions on the minimum wage increases.