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2012 Form W-4, Employee Withholding Allowance Certificate

Workers should review their withholding every year and if necessary, fill out a new Form W-4 and submit it to their employer. Workers who claimed exempt on their 2011 Form W-4 will need to complete a new Form W-4 for tax year 2012 by February 16, 2012 in order to maintain their exempt status.

Reporting in QuickBooks Employer-Sponsored Health Coverage Cost for Tax Year 2012.

Reporting in QuickBooks Employer-Sponsored Health Coverage Cost for Tax Year 2012. If you are currently using an Intuit QuickBooks Payroll solution – including Basic Payroll, Standard Payroll, Enhanced Payroll, or Assisted Payroll – read on to find out more about reporting employer-sponsored health coverage cost for tax year 2012.  A new tax tracking type, Health [...]

Wages paid in excess of $18,350 within the first two months of 2012.

What to do regarding wages paid in excess of $18,350 within the first two months of 2012?  At this time, 4.2% Social Security Tax should be withheld on all wages for that period (01/01/12-02/29/12). Under the terms negotiated by Congress, the law also includes a new “recapture” provision, which applies only to those employees who receive [...]

Payroll: 2012 Social Sec/Medicare Rates & Wage Bases

2011 Social Sec/Medicare Rates & Wage Bases Social Security: EmployEE: 4.2% on earnings up to $110,100* (see below) EmployER: 6.2% on earnings up to $110,100 Medicare: Employee/employer (each) 1.45% on all earnings * Section 601 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 reduced, for wages and salaries paid in [...]

CA-Payroll Tax: 2012 Rates

2012 California Payroll Tx Rates: http://www.edd.ca.gov/Payroll_Taxes/Rates_and_Withholding.htm#2012UIETTandSDIRates

Employers Required to Include Employee’s Date of Hire on New Hire Reports Starting 01/16/2012

Effective January 16, 2012, employers will be required to include an employee’s date of hire when submitting a new hire report. The date of hire is the date an employee first performed services for pay. This requirement was enacted in Section 802 of the Claims Resolution Act of 2010 (CRA; Pub. L. No. 111-291) signed [...]