AccuWage Software 2014

AccuWage is free software from Social Security. AccuWage is for use with Electronic Filing W-2/W-2C – EFW2 or EFW2C The software allows you to check W-2 (Wage and Tax Statement) and W-2c (Corrected Wage and Tax Statement) reports for correctness before you send them to Social Security. Download AccuWage – 2014 Tax Year EFW2 – […]

West Virginia Minimal Wage Increase (2015)

An employer employing 6 or more employees in any one separate, distinct and permanent location during any calendar week, including the State of West Virginia, and its agencies anddepartments, must comply with the state minimum wage law. Required Minimum Wage Rates 1. Beginning July 1, 2008, employers must pay employees at least $7.25 per hour. […]

2015 Pension Plan Limitations

The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. However, other limitations will remain unchanged because the increase […]

Penalty Relief Pilot for Small Retirement Plans

IRS will begin a one-year pilot program in June to help small businesses with retirement plans that owe penalties for not filing reporting documents. By filing current and prior year forms during this pilot program, they can avoid penalties. The IRS is reaching out to certain small businesses that maintain retirement plans and may have […]

Seattle Minimum Wage Raise – Beginning April 1, 2015

Seattle City Council unanimously approved the adoption of a $15 per hour minimum wage. Beginning April 1, 2015, the legislation will phase-in a $15 per hour minimum wage annually over 3 to 7 years, depending on employer size. Twenty-four percent of Seattle workers earn hourly wages of $15 per hour or less, and approximately 13.6 […]

Additional Medicare Tax

The Additional Medicare Tax is added by the Affordable Care Act (ACA). It applies to wages, railroad retirement (RRTA) compensation, and self-employment income over certain threshold amount received in taxable years beginning after Dec. 31, 2012. Employers are responsible for withholding the tax on wages and RRTA compensation in certain circumstances. Tax rate is 0.9 […]

Employer’s Quaterly Federal Tax Return 2014

Use Form 941 to report the following amounts. Wages you have paid. Tips your employees have received. Federal income tax you withheld. Both the employer’s and the employee’s share of social security and Medicare taxes. Additional Medicare Tax withheld from employees. Current quarter’s adjustments to social security and Medicare taxes for fractions of cents, sick […]

IRS Employment Tax Reporting and Deposit Due Dates in 2014

  Reporting Due Dates   Generally, employers must report wages, tips and other compensation paid to an employee by filing the required form(s) to the IRS. You must also report on the taxes you deposit.   By January 31   File Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. However, if you deposited all […]

San Francisco 2013 Payroll Expense Tax Statement

Link to 2013 Payroll Expense Tax Statement eFiling As required by our Payroll Expense Tax and Business Registration Ordinance all businesses with a taxable San Francisco payroll expense greater than $150,000 must file a Payroll Expense Tax Statement for their business annually by the last day of February for the prior calendar year (Jan. 1st – Dec. 31st). The […]