According to the US Department of Labor, in the week ending September 21, the advance figure for seasonally adjusted initial claims was 305,000, a decrease of 5,000 from the previous week’s revised figure of 310,000. The 4-week moving average was 308,000, a decrease...
This week’s question comes from Courteney, an office manager. Courteney asks: I just received my first 2013 paycheck and it is a lot less than my last check from 2012. Why did my paycheck go down in 2013? Answer: The biggest impact most employees will see is the...
The temporary decrease of the social security tax rate to 4.2% has expired with the end of 2012. Beginning in 2013, the social security tax rate on employees reverts to 6.2%. Net Pay Will Decrease Approximately 2% Employees will notice a decrease in net pay by about...
The Social Security Administration announced today that the Maximum Taxable Earnings or Social Security Wage Base would increase from $110,100 in 2012 to $113,700 in 2013. Social Security Increases Based on CPI Change Since there was a 1.7% increase in the Consumer...
The Washington Employment Security Department has announced an increase in the taxable wage base for 2013. The wage base will increase from $38,200 for 2012 to $39,800 for 2013. Find Out the Wage Base for All States by Visiting the Vision Payroll Unemployment Taxable...
Under recently enacted Illinois Public Act 097-0689, the Save Medicaid Access and Resources Together (SMART) Act, certain Illinois employers will be required to file wage reports on a monthly basis starting in 2013. SMART Act Mandates Monthly Filing for Employers...
This week’s question comes from Carla, a company president. Carla asks: We’re doing some compensation planning for next year. What are the 2012 Highly Compensated Employee Limits? Answer: The IRS has just released updated information for 2012. IRS Releases 2012 Highly...
Illinois Governor Pat Quinn recently signed HB 1030 into law. The new law adds an unemployment tax surcharge, increases the taxable wage base, and reduces maximum benefits, among other provisions. Surcharge Is for First Quarter of 2011 For the first quarter of 2011,...
South Dakota Governor Mike Rounds recently signed SB 186, which increases the taxable wage base from $10,000 in 2010, to $11,000 in 2011, $12,000 in 2012, $13,000 in 2013, $14,000 in 2014, and $15,000 in 2015. The surcharge was reduced from 1.5% to 1.0% in 2010 and to...
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