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...
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...
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...
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,...
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...
Most employers nationwide will receive an employment tax reduction July 1, 2011 when the temporary FUTA surtax expires. The temporary surtax was enacted in 1976. The standard FUTA tax rate will decrease from 6.2% to 6.0%. Standard Credit Rate is 5.4% for 2011...
The Internal Revenue Service (IRS) has announced that it will no longer mail the Form 941 tax package to business taxpayers. Taxpayers who need paper copies of the forms can download them at IRS.gov or VisionPayroll.com. Growth in Electronic Filing Spurred Move The...
This week’s question comes from Seth, a company controller. It seems as if there are many changes in payroll recently. What are 10 hot items for payroll in 2011? Answer: The payroll industry and payroll departments have seen many changes as Congress uses the payroll...
The Internal Revenue Service (IRS) has released the 2010 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. FUTA Tax Must Be...
According to the Indiana Department of Workforce Development, Indiana will be a FUTA tax credit reduction state in 2010. Standard Credit Rate is 5.4% for 2010 Generally, employers who pay their state unemployment tax by the due date for filing Form 940, Employer's...
This week’s question comes from Peter, a company controller. I read that Michigan is a credit reduction state for 2010. Are there any other credit reduction states for 2010? Answer: Federal law provides for a reduction in the FUTA tax credit when a state has...
According to the Unemployment Insurance Agency of the State of Michigan Department of Energy, Labor & Economic Growth, the FUTA tax credit reduction rate will increase from 0.3% in 2009 to 0.6% in 2010. Standard Credit Rate is 5.4% for 2010 Generally, employers...
This week’s question comes from Scott, a small-business owner. I own a business in Michigan. I’ve heard that for 2009, Michigan is a credit reduction state. What is a credit reduction state? Answer: For 2009, Michigan is the only “credit reduction state”. This means...
This week’s question comes from Elizabeth, a small business owner. I need to give copies of my quarterly tax returns to my CPA so I can finish my income tax return. I can’t find my copies anywhere. How can I get copies of my quarterlies? Answer: Vision Payroll offers...
Does your CPA call at year-end looking for copies of quarterly payroll reports? Don’t waste time finding them, copying them, and mailing them. Sign up now to have Vision Payroll send copies of reports to your CPA each quarter. Your CPA will appreciate always having...
Connect with Vision Payroll
Streamline Your Hiring
Process With
