Nine Tips for Charitable Taxpayers

RS Summertime Tax Tip 2011-21, August 22, 2011 If you make a donation to a charity this year, you may be able to take a deduction for it on your 2011 tax return. Here are the top nine things the IRS wants every taxpayer to know before deducting charitable donations. Make sure the organization qualifies Charitable contributions must be made to qualified organizations to be deductible. You can ask any organization whether it is a qualified organization or ... Read more

DirectPay Has Partnered with ADI Time to offer Timeclock Solutions

ADI Time Clocks NEW! ADI Time announces a complete product line of IP based real-time “Push” terminals designed for adiTime Software solutions coming this summer. These new ADI Time terminals seamlessly interface with our powerful labor management subscription services and on-premise software, helping organizations of all sizes automate their time and attendance, in order to reduce expenses and errors related to payroll processing. Models are available with Biometric Authentication or Badge ... Read more

Prepare for Hurricanes, Disasters by Safeguarding Tax Records

IRS YouTube Videos Preparing for Disasters: English | Spanish | ASL How to Request a Copy of Your Tax Return: English | Spanish | ASL Podcast Disaster Assistance: English | Spanish The 2011 hurricane season has started. Are your personal or your business’ financial and tax records and valuables protected in the event of a disaster? Here are some tips that can help: Create a Backup Set of Records Electronically Keep a set of backup records in a safe place. The backup should be stored away ... Read more

Protect your personal information! The IRS does not initiate taxpayer communications through email

What is phishing? Phishing is a scam typically carried out by unsolicited e-mail and/or websites that pose as legitimate sites and lure unsuspecting victims to provide personal and financial information. All unsolicited e-mail claiming to be from either the IRS or any other IRS-related components such as EFTPS, should be reported to phishing@irs.gov. However, if you have experienced monetary losses due to an IRS-related incident please file a complaint with the Federal Trade Commission through their Complaint Assistant to make ... Read more

Social Security Projects and Increase to Wage Base for 2012

The Social Security Administration’s Office of the Chief Actuary (OCA) is projecting that the Social Security wage base will increase from the current wage base of $106,800 to $110,700 for 2012. This would be the first increase in wage base since 2009. The Social Security administration projects increases through the year 2020. • 2012 — $110,700 • 2013 — $114,900 • 2014 — $120,000 • 2015 — $125,400 • 2016 — $130,800 • 2017 — $135,900 • 2018 — $141,300 • 2019 — $146,700 • ... Read more

Attention North Carolina Employers

The North Carolina Department of Revenue is currently mailing notification that they will be discontinuing their PC Software payment method for state withholding taxes. DirectPay Payroll Services has already been informed and implementation of the new submittal process is already in place. If you receive a notice from the North Carolina Department of Revenue, please feel free to send a copy to your Account Manager. As always, please be sure to fax, mail, or email all IRS or state tax related correspondence ... Read more

Employee fired for filing Form SS-8 may sue

A worker who was fired after admitting to his employer that he filed Form SS-8 with the IRS to determine his status as an independent contractor or employee can continue his lawsuit for unpaid overtime, a federal trial court has ruled. (Coats v. Nashville Limo Bus, LLC, U.S.D.C., M.D. Tenn, No. 3:10-0759, 2010) It’s independent contractor status or nothing A corporation treated its drivers as independent contractors. One driver filed an SS-8 form with the IRS to determine his ... Read more

Attention South Carolina Employers

South Carolina is adjusting SUI rates mid-year. All SC clients should have received the following correspondence from South Carolina Department of Employment and Workforce. Additional correspondence with your updated SUI rate will follow. It is imperative that you forward your adjusted rate to your Account Manager. SOUTH CAROLINA DEPARTMENT OF EMPLOYMENT AND WORKFORCE 1550 Gadsden Street PO Box 995 Columbia, SC 29202 NOTICE: Revised 2011 tax rates shown below are preliminary estimates based on recently legislated $146 million in state appropriations along with other changes in ... Read more

As many as 25 States face FUTA Credit Reduction for 2011

What is the FUTA Credit? Under the provisions of the Federal Unemployment Tax Act (FUTA), a Federal tax is levied on employers covered by the Unemployment Insurance program at a current rate of 6.2% on wages up to $7,000 a year paid to a worker. The law, however, provides a credit against Federal tax liability of up to 5.4% to employers who pay state taxes timely under an approved state UI program. Accordingly, in states meeting the specified  ... Read more

IRS Intends to Discontinue Optional High-Low Per Diem Method

The IRS has announced that it intends to discontinue authorizing the high-low per diem method for substantiating lodging, meal, and incidental expenses incurred in traveling away from home. Later in 2011, the IRS plans to publish a revenue procedure providing the general rules and procedures for substantiating these expenses that would omit the high-low substantiation method and a notice providing the special transportation rate. Ann. 2011-42. Part IV – Items of General Interest Discontinuance of High-Low Method for Substantiating Travel Expenses Announcement 2011-42 In ... Read more
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