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...
Wisconsin Unemployment Wage Base to Increase to $13,000 for 2011
The Wisconsin Department of Workforce Development has announced an increase in the taxable wage base for 2011. The wage base will increase from $12,000 for 2010 to $13,000 for 2011. Under Wisconsin Statute 108.18, rates for 2011 will be determined under Schedule A....
WI Taxpayers Receive Extension of Time to File Returns and Pay Taxes
Due to the damage caused by the severe storms, flooding, and tornadoes in Wisconsin on July 20, 2010, President Barack Obama declared the following counties a federal disaster area: Grant and Milwaukee. Declaration Leads to Extension of Payroll Tax and Other Deadlines...
Wisconsin Announces Special Withholding Arrangement for Wisconsin Residents Working in Minnesota
Secretary Roger M. Ervin of the Wisconsin Department of Revenue announced a special withholding arrangement for employers of Wisconsin residents working in Minnesota in response to the termination by Minnesota of the Minnesota-Wisconsin reciprocity agreement effective...
Wisconsin Releases Updated Withholding Tables
The Wisconsin Department of Revenue has released a revised Publication W-166, Wisconsin Employer’s Withholding Tax Guide. Effective for taxable years beginning after December 31, 2008, the top individual rate increased fifteen percent from 6.75% to 7.75%. The...
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,...
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