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...
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...
Question of the Week: What Are the Credit Reduction States for 2011?
This week’s question comes from Victoria, a corporate controller. Victoria asks: I read that California is going to be a credit reduction state for 2011, but heard that they be more credit reduction states. What are the credit reduction states for 2011? Answer: The...
Florida Minimum Wage Increases to $7.67 Effective January 1, 2012
The Florida Department of Economic Opportunity announced recently that pursuant to the Florida Constitution, the minimum wage for the state of Florida would increase from $7.31 per hour to $7.67 effective January 1, 2012. Adjustment Must Be Calculated Annually The law...
Farmers Insurance Agrees to Pay $1.5 Million in Back Wages
Los Angeles-based Farmers Insurance Inc. (Farmers) has agreed to pay $1,520,705 in overtime back wages to 3,459 employees following an investigation by the US Department of Labor’s Wage and Hour Division that disclosed significant and systemic violations of the...
Question of the Week: What Is a Taxable Wage Base?
This week’s question comes from April, an office manager. I’ve read that the taxable wage base has increased in New Hampshire for 2011, but I’m not sure of the impact. What is a taxable wage base? Answer: The taxable wage base is the amount of income that will be...
IRS To Help BP Oil Spill-Impacted Taxpayers
In IR-2010-078, the Internal Revenue Service (IRS) released guidance based on current law that explains how the government can help BP oil spill-impacted taxpayers. “This is a very difficult time for many people affected by the oil spill in the Gulf of Mexico. As...
Twelve Lawsuits Alleging FLSA Violations by Bank of America to Be Centralized in Kansas
Twelve separate lawsuits from California, Florida, Kansas, Texas, and Washington, all of which allege that Bank of America (either Bank of America, NA or Bank of America Corp.) “routinely fails to pay its employees for off-the-clock overtime work in violation of the...
Florida Delays Increase in Wage Base to 2012
Florida Governor Charlie Crist has signed a bill to delay the increase in the unemployment wage base until 2012. Originally, the wage base was to increase from $7,000 to $8,500 in 2010. The new law also adjusts tax rate calculations through 2011 and provides for...
Florida Unemployment Wage Base to Increase to $8,500
The Florida Department of Revenue has announced an increase in the taxable wage base for 2010. The wage base will increase from $7,000 for 2009 to $8,500 for 2010. Contact Vision Payroll if you have any questions on Florida unemployment taxable wage base or visit our...
FL Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to severe storms, flooding, tornadoes and straight-line winds in Florida on May 17, 2009, President Barack Obama declared the following county a federal disaster area: Volusia. Therefore, the Internal Revenue Service (IRS) announced recently that it will waive...
FL Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to severe storms, flooding, tornadoes, and straight-line winds in Florida on March 26, 2009, President Barack Obama declared the following counties a federal disaster area: Calhoun, Dixie, Gilchrist, Hamilton, Holmes, Jackson, Lafayette, Leon, Levy, Liberty,...
US Department of Labor Files Suit to Recover Overtime Wages
Following an investigation, the US Department of Labor has filed a lawsuit seeking more than $5 million in underpaid overtime. The suit was filed against CEMEX, Inc., a Houston-based provider of cement and concrete products. Employees in Arizona, California, Florida,...
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