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...
USCIS Launches E-Verify Self-Check
On March 21, US Citizenship and Immigration Services (USCIS) launched E-Verify Self Check, the first online E-Verify program offered directly to the US workforce. E-Verify Self Check, a fast, simple, secure and free service, enables individuals to voluntarily check...
Tip of the Week: Virginia Will Abate Late Filing Penalties for Some Taxpayers
The Virginia Department of Taxation has announced that it will abate penalties for taxpayers who were unable to file withholding tax returns for July 2010 (due August 25, 2010) through the Business iFile system. Business iFile System Was Unavailable August 25 Due to...
Virginia Announces New Employer W-2 Electronic Filing Requirements
The Commonwealth of Virginia announced new electronic filing requirements, beginning January 1, 2011. The changes reduce the number of employee statements that may be filed on paper and the method by which taxpayers may file. Legislation effective January 1, 2011...
Tip of the Week: Minimum Wage Hikes Take Effect this Week
The federal minimum wage will increase to $7.25 on Friday, July 24, 2009. Therefore, all work performed after July 23, 2009 should be compensated at the higher rate. In addition, the minimum wage will also increase to $7.25 in the following areas: Delaware, Idaho,...
Virginia Payday Lenders Face New Restrictions January 1
In conjunction with recent amendments to the Payday Loan Act (Code of Virginia §§6.1-444 et seq.) that take effect January 1, 2009, the Virginia State Corporation Commission has adopted conforming regulations (Case Number BFI-2008-00295) on licensed payday lenders. In...
State Minimum Wages to Increase
Several states have minimum wage increases effective for work performed after July 23, 2008. Idaho, Indiana, Maryland, Montana, Nebraska, New Hampshire, North Carolina, North Dakota, Oklahoma, Puerto Rico, South Dakota, Texas, Utah, and Virginia all have increases to...
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