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...
This week’s question comes from Gabrielle, an office manager. I noticed that my federal income tax withholding increased for my first check of 2011 as compared to my last check of 2010. Several of my co-workers noticed the same thing. I thought the tax cuts were...
The Internal Revenue Service (IRS) has released the 2011 Form W-4, Employee’s Withholding Allowance Certificate. Form W-4 is used by employers to calculate the amount of federal tax to be withheld from an employee’s paycheck. Employees Claiming Exempt Status Must File...
This is one in a continuing series on the 2010 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than January 31, 2011. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...
President Barack Obama recently signed the Education Jobs and Medicaid Assistance Act of 2010 (HR 1586) into law. As part of the legislation, the advance earned income credit, claimed by eligible employees by filing 2010 Form W-5, Earned Income Credit Advance Payment...
In response to a letter from Senator Amy Klobuchar (D-MN), the Internal Revenue Service (IRS) recently released Information Letter 2010-0144, which includes a response to her constituent about the effect of the Making Work Pay tax credit on his employees’ annual...
This week’s question comes from Kate, a restaurant manager. We know that the Spanish W-4 doesn’t come out at the same time as the English W-4. Is the 2010 Spanish W-4 now available? Answer: The 2010 Form W-4, Employee’s Withholding Allowance Certificate was released...
This week’s question comes from Joe, a restaurant owner. We have many employees whose native language is Spanish. They are better able to understand forms in Spanish than they are in English. The regular 2010 Form W-4 is available in English, but we can’t find the...
Employees who have provided a Form W-4, Employee’s Withholding Allowance Certificate claiming exemption from federal income tax withholding must file a new 2010 Form W-4 by February 16, 2010 in order to continue their exemption from federal income tax withholding....
This is one in a continuing series on the 2009 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 1, 2010. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...
This week’s question comes from Shawn, an HR director. We have several employees claiming exemption from federal withholding. Do employees claiming exemption from withholding need to file a new Form W-4 for 2010? Answer: Employees who have provided a Form W-4,...
The California Franchise Tax Board (FTB) recently recommended that taxpayers review their withholding due to changes in the state personal income tax laws. Recent changes increased the tax rates by 0.25% and reduced the dependent exemption credit. Tax tables have been...
This week’s question comes from Will, a restaurant owner. We’ve hired several students to work for us this summer. Most of them don’t expect to owe any income tax this year. How do students claim exemption from income tax withholding? Answer: Students or others who...
This week’s question comes from Burt, an office manager. An employee filled out a Form W-4 and now is not having any federal income tax (FIT) withheld from his check. He wants to have $20 withheld each week since he thinks he’ll owe about $1,000 in FIT. How does an...
In IR-2009-050, the Internal Revenue Service (IRS) has announced the release of Notice 1036-P, Additional Withholding for Pensions for 2009, in order to help some pensioners avoid a smaller refund or a balance due when filing their 2009 Form 1040. Although using the...
Under the American Recovery and Reinvestment Act of 2009 (ARRA), the first $2,400 of unemployment benefits received by a taxpayer during 2009 are not subject to federal income tax. The Internal Revenue Service (IRS) recently released IR-2009-29, First $2,400 of...
This week’s question comes from Jerri, an HR director. I know federal income tax withholding is supposed to change because of the new tax law. Do employees need to file a new Form W-4? Answer: Employees are not required to file a revised Form W-4, Employee’s...
The Internal Revenue Service (IRS) has released Publication 15-T, New Wage Withholding and Advance Earned Income Credit Payment Tables (For Wages Paid Through December 2009). Publication 15-T contains revised withholding tables to implement changes mandated by the...
As part of the American Recovery and Reinvestment Act of 2009, the Internal Revenue Service (IRS) has released updated withholding tables. Though they won’t be published until new Publication 15-T is made available later this week, the IRS has released Notice 1036,...
This week’s question comes from Angela, a part-time employee. I only work a few hours each month to help with school expenses. I claimed exemption from withholding when I started work last year. Yesterday’s check had federal withholding for the first time. Why did...
This week’s question comes from Greg, a part-time accounts payable clerk. I made almost the same amount of money in 2008 as I did in 2007, but the amount of my federal income tax (FIT) withheld is significantly lower. Why did my FIT withheld go down? There are several...
Employees who have provided a Form W-4, Employee’s Withholding Allowance Certificate claiming exemption from federal income tax withholding must file a new 2009 Form W-4 by February 16, 2009 in order to continue their exemption from federal income tax withholding....
This is one in a continuing series on the 2008 Form W-2, Wage and Tax Statement, which employers must generally furnish to employees no later than February 2, 2009. Forms mailed on the due date are considered furnished if properly addressed. Employers unable to meet...
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