Due to the early April severe weather in North Dakota, the Internal Revenue Service (IRS) announced recently that it will consider abating late filing and/or late paying penalties if taxpayers were unable to file by the April 15, 2010 filing deadline. Taxpayers who...
This week’s question comes from Dan, a small-business owner. I have several employees that I hired who have signed Form W-11. What information do I need to provide to Vision Payroll to qualify for the HIRE Act Credit? Answer: Under the HIRE Act, employers may avoid...
Due to the severe storms, flooding, mudslides and landslides in New Jersey beginning March 12, 2010, President Barack Obama declared the following counties a federal disaster area: Atlantic, Bergen, Burlington, Cape May, Cumberland, Essex, Gloucester, Mercer,...
The Internal Revenue Service (IRS) has released Form W-11, Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit. Employers can use Form W-11 to confirm that an employee is a qualified employee under the HIRE Act. Alternatively, they can use another...
Due to the severe storms, flooding, mudslides and landslides in West Virginia beginning March 12, 2010, President Barack Obama declared the following counties a federal disaster area: Fayette, Greenbrier, Kanawha, Mercer and Raleigh. Therefore, the Internal Revenue...
Due to the severe storms and flooding in Massachusetts beginning March 12, 2010, President Barack Obama declared the following counties a federal disaster area: Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk and Worcester. Therefore, the Internal Revenue...
Due to the severe storms and flooding in Rhode Island beginning March 12, 2010, President Barack Obama declared the following counties a federal disaster area: Bristol, Kent, Newport, Providence and Washington. Therefore, the Internal Revenue Service (IRS) announced...
This week’s question comes from Andrew, a company president. We know that we can receive a payroll tax exemption and income tax credit under the HIRE Act if we hire certain unemployed workers. We need qualified employees to sign an affidavit to prove they are...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Employers who claim the exemption under the HIRE Act may not claim the Work Opportunity Tax Credit with...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Employees are not eligible under the HIRE Act if the employee is “employed by the qualified employer to...
Under the Hiring Incentives to Restore Employment Act (HIRE Act), employers who hire certain unemployed workers are allowed not to pay certain employment taxes. Under the HIRE Act, certain related individuals as described in §51(i)(1) of the Internal Revenue Code of...
This week’s question comes from Donna, an HR Director. I read how we can get a payroll tax credit for hiring unemployed workers. How do we know if an employee qualifies us for the new payroll tax credit for hiring unemployed workers? Answer: The Internal Revenue...
HR 2847, An Act making appropriations for the Departments of Commerce and Justice, and Science, and Related Agencies for the fiscal year ending September 30, 2010, and for other purposes, was passed by Congress and sent to President Barack Obama who indicated he will...
In IR-2010-025, the Internal Revenue Service (IRS) announced that it “has made an administrative determination to accept the position that medical residents are excepted from FICA taxes based on the student exception for tax periods ending before April 1, 2005, when...
In IR-2010-022, the Internal Revenue Service (IRS) announced that interest rates for the second quarter of 2010 would remain unchanged from the first quarter. The rates are as follows: Four (4) percent for overpayments [three (3) percent in the case of a corporation];...
The Internal Revenue Service (IRS) has issued a statement stating that tax return processing and issuance of refunds will not be affected by the recent tragedy in Austin, Texas. According to the statement, “the IRS does not process tax returns or issue refunds at 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....
The Internal Revenue Service (IRS) has released an updated version of Publication 15-A, Employer’s Supplemental Tax Guide (Supplement to Publication 15 (Circular E), Employer’s Tax Guide) for use in 2010. Publication 15-A contains information on the following areas:...
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?...
The Internal Revenue Service (IRS) recently released 2010 Form W-5, Earned Income Credit Advance Payment Certificate. There are four criteria for claiming advance earned income credit (EIC) payments. Taxpayer (and spouse if filing jointly) must have a valid social...
This week’s question comes from Sherri, a payroll director. We have many employees with levies on their paychecks, I know we need to change the calculation if an employee provides a change in exemptions. Where can I find the levy exemption amounts for 2010? Answer:...
In IR-2009-107, the Internal Revenue Service (IRS) announced that interest rates for the first quarter of 2010 would remain unchanged from the fourth quarter. The rates are as follows: Four (4) percent for overpayments [three (3) percent in the case of a corporation];...
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...
In Notice 2009-93, the Internal Revenue Service (IRS) has announced the creation of a pilot program to allow certain filers of Form 1098, Forms 1099, and Form 5498 to truncate an individual’s nine-digit identifying number on paper copies of the payee statements. The...
This week’s question comes from Eugenia, a small business owner. One of our employees just moved. How do I change an employee’s address? Answer: According to the Internal Revenue Service (IRS), employers should report the address where the employee receives mail. If...
Connect with Vision Payroll
Streamline Your Hiring
Process With
