The Small Business Administration (SBA) recently issued a series of Frequently Asked Questions (FAQs) on the Paycheck Protection Program (PPP) which was passed as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). FAQs Address Issues of...
Question of the Week: Why Did My Paycheck Go Down in 2013?
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...
IRS Announces Revision To Withholding on Nonresident Alien Employees
In Notice 2011-12, Withholding on Wages of Nonresident Alien Employees Performing Services Within the United States the Internal Revenue Service (IRS) announced that Notice 2009-91 will not apply to wages paid after December 31, 2010. Notice 2009-91 Modified...
Question of the Week: Why Did My Withholding Increase on My Pension?
This week’s question comes from Myrtle, a retired bookkeeper. I thought the income tax cuts were extended, but now the federal income tax withholding on my pension has increased. Why did my withholding Increase on my pension? Answer: The Internal Revenue Service...
2010 Form W-2 Tips, Part 3, Box 2 Federal Income Tax Withheld
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...
Question of the Week: Why Did My Federal Income Tax Refund Go Down?
This week’s question comes from Rachael, a receptionist. I just filed my 2009 tax returns. Usually I get a big refund, but this year my refund was a lot less. My income and deductions are pretty much the same as in 2008. Why did my federal income tax refund go down?...
2009 Form W-2 Tips, Part 3, Box 2 Federal Income Tax Withheld
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...
IRS Changes Nonresident Alien Withholding Procedures in Notice 2009-91
In Notice 2009-91, Withholding on Wages of Nonresident Alien Employees Performing Services Within the United States, the Internal Revenue Service (IRS) modified the procedures for calculating the amount of federal income tax to be withheld from wages paid to...
Question of the Week: How Does an Employee Increase the Amount of Federal Income Tax Withholding?
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...
Question of the Week: Do Employees Need to File a Revised Form W-4?
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...
Question of the Week: Why Did My FIT Withheld Go Down?
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...
2008 Form W-2 Tips, Part 3, Box 2 Federal Income Tax Withheld
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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