Effective May 7, 2013 Employers Must use the New I-9 Form
Archive | Payroll
Are Your Contractors / Temps Really Employees?
I will be co-teaching a class at the Fort Worth Business Assistance Center, June 27, 2012 from 11:00 a.m. – 1:00 p.m. This class will cover: the basics of how to calculate a paycheck determine if your workers are contract or really employees. DiAnn Sachehz is an expert in human resources and a must hear [...]
Self-Employment Tax Rate for 2012
What is Self-Employment Tax? Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most employees. When you are self employed, you pay the social security and medicare “matching amounts” that [...]
IRS Reminds Taxpayers that FUTA Surcharge has Expired
July 20, 2011 The IRS reminds employers that the Federal Unemployment Tax Act surcharge of 0.2% expired on June 30, 2011. This means that the FUTA rate for employers decreased from 6.2% to 6.0% starting on July 1, 2011. The surcharge was originally enacted in 1976, and Congress has extended it several times since. Unemployment [...]
Payroll Tax Cut Extended to the End of 2012
IR-2012-27, Feb. 23, 2012 WASHINGTON — The Internal Revenue Service today released revised Form 941 enabling employers to properly report the newly-extended payroll tax cut benefiting nearly 160 million workers. Under the Middle Class Tax Relief and Job Creation Act of 2012, enacted yesterday, workers will continue to receive larger paychecks for the rest of [...]
Payroll Tax Cut Temporarily Extended into 2012
IR-2011-124, Dec. 23, 2011 WASHINGTON — Nearly 160 million workers will benefit from the extension of the reduced payroll tax rate that has been in effect for 2011. The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security [...]
Payroll Tax Cut to Boost Take-Home Pay for Most Workers
IR-2010-124, Dec. 17, 2010WASHINGTON ― The Internal Revenue Service today released instructions to help employers implement the 2011 cut in payroll taxes, along with new income-tax withholding tables that employers will use during 2011.Millions of workers will see their take-home pay rise during 2011 because the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act [...]