IRS Revamps Schedule A for 2011

The Internal Revenue Service (IRS) has issued a revamped Schedule A for Form 940 for 2011. The revised Schedule A includes a line for every state as well as the District of Columbia, Puerto Rico, and the US Virgin Islands. Revamped Form Necessitated by Increase in...

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IRS Releases 2011 Form 940

The Internal Revenue Service (IRS) has released the 2011 Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, and accompanying instructions. Employers use Form 940 to report their annual Federal Unemployment Tax Act (FUTA) tax. Twenty Credit Reduction...

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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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New Hampshire Unemployment Wage Base to Increase for 2012

The New Hampshire Department of Employment Security has announced an increase in the taxable wage base for 2012. The wage base will increase from $12,000 for 2011 to $14,000 for 2012. Third Consecutive Year the Wage Base Has Increased This is the third consecutive...

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Michigan Offers Rebate for Expected Credit Reduction

According to the Unemployment Insurance Agency (UIA) of the State of Michigan Department of Licensing and Regulatory Affairs in Fact Sheet 139, the FUTA tax credit reduction rate will increase from 0.6% in 2010 to 0.9% in 2011. Since the determination will not be made...

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Vermont Wage Base to Increase for 2012

Pursuant to legislation passed in 2010, the taxable wage base in Vermont will increase for 2012. The wage base will increase from $13,000 for 2011 to $16,000 for 2012. Third Consecutive Annual Increase This is the third consecutive year that the wage base will...

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New York Assesses Interest Assessment Surcharge for 2011

The state of New York has announced the assessment of an Interest Assessment Surcharge (IAS) for 2011. The surcharge will be used to pay approximately $95 million in interest on loans to the federal government by September 30, 2011. New York Must Pay Interest on More...

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NJ Lowers Unemployment Tax Rates for 2012 Rate Year

New Jersey Governor Chris Christie recently signed into law A-3819 (S-2730), which reduces the unemployment tax rates that employers would have otherwise had to pay during the 2012 rate year (July 1, 2011 through June 30, 2012). The rates will increase, however, from...

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Nebraska Reduces EFT Threshold Effective July 1, 2011

As of January 1, 2011, the Nebraska Department of Revenue (DOR) required the use of an electronic funds transfer (EFT) all payments of taxes or fees for tax programs, such as income or sales and use tax, if the taxpayer had made tax or fee payments above $20,000 for...

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Massachusetts Releases 2011 UHI Contribution Rates

The Massachusetts Division of Unemployment Assistance (DUA) has released the UHI contribution rates for 2011. 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...

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Tip of the Week: IRS Releases 2011 Spanish Language W-4

The 2011 Form W-4, Employee’s Withholding Allowance Certificate was released last month. The Spanish equivalent, 2011 Formulario W-4(SP), Certificado de Exención de la Retención del Empleado, is now available. February 16, 2011 Is Filing Deadline Employees claiming...

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No Employer Surcharge for South Dakota in Q1 2011

An employer surcharge is not in effect for Q1 2011 in South Dakota. UI Trust Fund Balance Determines if Surcharge Is in Effect The surcharge automatically goes into effect when the UI Trust Fund balance is below $11 million at the end of any quarter. The balance was...

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