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The professional society for Payroll Professionals
United States Department of Treasury
Electronic Federal Tax Payment System (EFTPS). Free from the U.S. Treasury.
A great resource for Michigan Child Support inquiries
Financial institutions, companies, and solution providers who share a common
strategy... improved payment processes, maximized business efficiencies, and
reduced risk and costs.
Our mission is to increase the use and awareness of electronic payments made
through the nationwide Automated Clearing House (ACH) Network and to be a
resource for information related to other payments such as checks, wire
transfers, ATM, and debit cards.
The official website of the U. S. Social Security Administration
This bill is a proposed amendment to change the acceptable methods in which
employers pay their employees. It would allow an employer or agent of an
employer to require employees to receive wages either by direct deposit or a
payroll debit card.
The Hiring Incentives to Restore Employment (HIRE) Act passed in Congress
and was enacted into law today, March 18, 2010.
The Hiring Incentives to Restore Employment (HIRE) Act will offer a credit of the
6.2 percent of the employer tax on qualified Social Security wages for the
remainder of 2010 to businesses that hire qualified employees after February 3,
2010, and prior to January 1, 2011, who have been out of work for at least 60
days. Additional requirements require the qualified employee to certify, by a
signed affidavit, that they were not employed for more than 40 hours during
the prior 60 day period ending on the date the employment began; is not
related to the employer; and is not employed to replace another employee
unless the former employee was separated voluntarily or for cause.
The expectation is that the credit would be reported on Form 941, which the
IRS has indicated will be revised in the next few weeks. Eligible employers will be
able to claim the credit on the revised employment tax form for the second
quarter. Click here to get the W-11 affidavit that employers must have
employees sign in order to claim a FICA credit for the Hire Act.
In 2011, an additional credit of $1,000 per employee can be taken for the
general business tax credit, provided the employer retains the employee for at
least 52 weeks at specified wage levels.
The Internal Revenue Service has added "Payroll Professionals Tax Center –
Information for Payroll Professionals and Their Clients" to its website. This is the
starting point for employment tax information, as well as information on various
provisions of the American Recovery and Reinvestment Act of 2009 that affect
employers and payroll providers. The site also has links to draft tax forms and
instructions.
There is a change to the FUTA tax rate for Michigan Employers starting in 2009.
Read more about this change on the Michigan Department of Labor and
Economic Growth's website.
IR-2009-105, Nov. 20, 2009 — Most businesses may use losses incurred
during the economic downturn to reduce income from prior tax years, under a
revenue procedure issued today by the IRS.
IR-2009-106, Nov. 23, 2009 — The IRS issued proposed regulations under a
new statute requiring that, starting with transactions in calendar year 2011, the
gross amount of payment card and third-party network transactions be
reported annually to participating merchants and the IRS.
In February 2010, the Internal Revenue Service will begin its first Employment
Tax National Research Project in 25 years. Business practices regarding
employment tax issues may have changed significantly since the last IRS
employment tax study in the 1980s, necessitating the need for this study.
IRS revenue agents and criminal investigators are visiting preparers who filed
highly questionable EITC returns in 2008. The visits are educational. The
objective is ensuring preparers understand the types of errors appearing on
their returns and how to improve accuracy
United States Department of Treasury
Electronic Federal Tax Payment System (EFTPS). Free from the U.S. Treasury.
A great resource for Michigan Child Support inquiries
- MiSDU - Employer Job Aid *** NEW
Financial institutions, companies, and solution providers who share a common
strategy... improved payment processes, maximized business efficiencies, and
reduced risk and costs.
Our mission is to increase the use and awareness of electronic payments made
through the nationwide Automated Clearing House (ACH) Network and to be a
resource for information related to other payments such as checks, wire
transfers, ATM, and debit cards.
The official website of the U. S. Social Security Administration
This bill is a proposed amendment to change the acceptable methods in which
employers pay their employees. It would allow an employer or agent of an
employer to require employees to receive wages either by direct deposit or a
payroll debit card.
- Hiring Incentives to Restore Employment Act” (HIRE Act)
The Hiring Incentives to Restore Employment (HIRE) Act passed in Congress
and was enacted into law today, March 18, 2010.
The Hiring Incentives to Restore Employment (HIRE) Act will offer a credit of the
6.2 percent of the employer tax on qualified Social Security wages for the
remainder of 2010 to businesses that hire qualified employees after February 3,
2010, and prior to January 1, 2011, who have been out of work for at least 60
days. Additional requirements require the qualified employee to certify, by a
signed affidavit, that they were not employed for more than 40 hours during
the prior 60 day period ending on the date the employment began; is not
related to the employer; and is not employed to replace another employee
unless the former employee was separated voluntarily or for cause.
The expectation is that the credit would be reported on Form 941, which the
IRS has indicated will be revised in the next few weeks. Eligible employers will be
able to claim the credit on the revised employment tax form for the second
quarter. Click here to get the W-11 affidavit that employers must have
employees sign in order to claim a FICA credit for the Hire Act.
In 2011, an additional credit of $1,000 per employee can be taken for the
general business tax credit, provided the employer retains the employee for at
least 52 weeks at specified wage levels.
The Internal Revenue Service has added "Payroll Professionals Tax Center –
Information for Payroll Professionals and Their Clients" to its website. This is the
starting point for employment tax information, as well as information on various
provisions of the American Recovery and Reinvestment Act of 2009 that affect
employers and payroll providers. The site also has links to draft tax forms and
instructions.
There is a change to the FUTA tax rate for Michigan Employers starting in 2009.
Read more about this change on the Michigan Department of Labor and
Economic Growth's website.
IR-2009-105, Nov. 20, 2009 — Most businesses may use losses incurred
during the economic downturn to reduce income from prior tax years, under a
revenue procedure issued today by the IRS.
- IRS Issues Proposed Regulations on Reporting Requirement for
Payment Card and Third-Party Payment Transactions
IR-2009-106, Nov. 23, 2009 — The IRS issued proposed regulations under a
new statute requiring that, starting with transactions in calendar year 2011, the
gross amount of payment card and third-party network transactions be
reported annually to participating merchants and the IRS.
In February 2010, the Internal Revenue Service will begin its first Employment
Tax National Research Project in 25 years. Business practices regarding
employment tax issues may have changed significantly since the last IRS
employment tax study in the 1980s, necessitating the need for this study.
IRS revenue agents and criminal investigators are visiting preparers who filed
highly questionable EITC returns in 2008. The visits are educational. The
objective is ensuring preparers understand the types of errors appearing on
their returns and how to improve accuracy
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