Tip of the Week: IRS Releases 2011 Spanish Language W-4

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...

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Tip of the Week: IRS Releases 2011 Form W-4

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...

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Advance Earned Income Credit Is Repealed Starting in 2011

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...

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Unemployment Benefits Not Fully Taxable in 2009

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...

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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...

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Tip of the Week: Start Now to Collect 2009 Forms W-4

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....

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