2010 Year End Cut-Off is Today!

Today is the last day to report wages, adjustments, and fringe benefits. Anything that needs to be included in 2010 needs to be reported to your account manager by 1pm today. Please also make sure your employee's have verified their information for accuracy. In November we mailed out a W-2 verification report. If anything needs to be corrected, we will also need that information by 1pm today. Thank you for your continued business and we look forward to another wonderful year with you! Happy ... Read more

Year End Reporting

It's hard to believe it's already the last week of the year! With all the hustle and bustle of the Holidays, it's easy to forget to report your year end adjustments and fringe benefits. Please submit anything you would like included in 2010 to your Account Manager by 1pm on Thursday, December 30th. Our office will be closed on Friday, December 31st. Banks will be open on Friday 12/31/10. Therefore, you can still date your checks or any adjustments for the 31st. If you have ... Read more

Holiday Hours

Happy Holidays! Our office hours today are from 8:00am - 1:00pm. Please report your payroll by noon today so that we have time to transmit your information to the bank. We will be closed tomorrow, December 24, 2010. Please remember, all year end additions, Fringe Benefit reporting, and any other year end adjustments  should be given to your Account Manager by 1:00pm on December 30, 2010. If you have any questions, please feel free to call or email. (704) 921-2730, payroll@directpaypayroll.com Read more

Payroll Tax Cut to Boost Take-Home Pay for Most Workers; New Withholding Details Now Available on IRS.gov

IR-2010-124, Dec. 17, 2010 WASHINGTON ― 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 of 2010 provides a two percentage point payroll tax cut for employees, reducing their Social Security tax withholding rate from 6.2 ... Read more

Payroll Tax Cut to Boost Take-Home Pay for Most Workers; New Withholding Details Now Available on IRS.gov

WASHINGTON ― 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 of 2010 provides a two percentage point payroll tax cut for employees, reducing their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid. This ... Read more

Health Care Coverage Reporting Requirement Delayed Until 2012

On October 12, the Internal Revenue Service announced that reporting the cost of an employee's coverage under an employer-sponsored group health plan on Form W-2 will not be required for Forms W-2 issued for 2011. After receiving input from APA and other payroll stakeholders, IRS determined that the relief is needed to provide employers with more time to make any necessary changes to their payroll systems or procedures to prepare for complying with the  ... Read more

2010 Year-End Letter

Year-end Cutoff Date The year-end cutoff date for you to report changes for 2010 is December 30, 2010 at 1:00 p.m., or the day a payroll with a January 2011 check date is processed, whichever is earlier.  We recommend that you run any adjustments with a payroll to ensure that the taxes are withheld correctly.  Please remind your accountant to report payroll adjustments no later than your cut-off date. If payroll adjustments are necessary after the year-end cutoff date, we can rerun ... Read more

Proposed 2011 FICA Tax Cut

On Monday, December 6, President Obama announced that a tentative agreement had been reached between his administration and Republican leaders on legislation that would break the impasse over the expiration of the Bush-era tax cuts that are set to expire on December 31. Under the plan announced by Obama, the current individual income tax rates of 10%, 15%, 25% 28%, 33% and 35% would continue in effect through the end of 2012. If enacted, the plan would also reduce the employee’s ... Read more

Unemployment Rate Notices & Federal Deposit Requirement Notices

Recently, the IRS mailed out Federal Deposit Requirement notices for those companies that have a change in deposit frequency for 2011. If you received one of these notices, it is imperative that you forward a copy to our office as soon as possible to avoid penalties in 2011. North Carolina & Virginia have recently mailed 2011 unemployment tax rates. If you have not received your rate in the mail, you should be receiving it shortly. Please also forward a copy of this ... Read more

IRS Announces 2011 Standard Mileage Rates

WASHINGTON — The Internal Revenue Service today issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 51 cents per mile for business miles driven 19 cents per mile driven for medical or moving purposes 14  ... Read more
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