The American Payroll Association is recommending that to get this credit in the hands of American workers quickly and effectively, they recommend modifying the current income tax and withholding tables.

The current proposal involves a refundable income tax credit equal to 6.2% of the first $8,100 in wages subject to Federal Income Tax (FIT), resulting in a maximum credit of $502.20.

The APA suggests:

“Modify the current income tax and withholding tables to reflect a carve-out of $8,100 of
the 10% wage bracket, to be taxed at 3.8% (10% less 6.2%), and to reflect any additional tax
necessary in the higher wage brackets for anyone for whom the credit is not intended (i.e.,
phase-out for those earning more than a threshold amount of wages).”

“Require employers to apply the new withholding tables ‘as soon as administratively
practical,’ with a specific target date six to ten weeks after enactment. This will allow
employers who are able to immediately apply the change to do so, and it will recognize that
some systems are set up to make these sorts of changes at the first of a month or a quarter.”

“Stipulate that no employee’s FIT withholding for the year may be less than zero. An
employer may try to front the entire credit to some employees (!), but IRS and SSA systems
are not set up to accept negative numbers on Form W-2 and most fields of Form 941
(Employer’s Quarterly Federal Tax Return), and employer systems are accordingly
programmed not to allow such numbers.”

The APA and PayMaster believe that this would be the that this would be the most effective way to get this tax credit in the hands of the masses and reduce the burden on payroll professionals. The other reccomendations being suggested by the administration would require more complex programming, would increase the bookkeeping burden, and different taxpayers would have different experiences in receiving the credit.

Look for NPW in the national media this week!  The NPW message will appear on national television, in leading publications, on websites, and on National Public Radio.  Watch the new NPW TV commercial (MAC version or PC version) airing during the week on NBC’s “Today Show,” CNN’s “Anderson Cooper 360°,” and MSNBC’s top-rated “Countdown with Keith Olbermann.”  Don’t miss the NPW print ad in major publications like the New York Times Magazine, Kiplingers Personal Finance, U.S. News & World Report, and more!   Also, be sure to catch the NPW radio sponsorship of NPR’s “BBC Newshour,” in morning drive time. Visit the NPW website for a listing of all the 2008 NPW advertising. Finally, watch the CBS Early Show on Wednesday – you may see some of your colleagues and friends.

Voice your opinion on how you’re paid with the “Getting Paid In America” survey.  Just for taking the survey, you’ll instantly be eligible for the grand prize – a free paycheck and trip to Las Vegas.  Anyone 18 or older who works is eligible, so encourage your friends, coworkers, everyone you know to take the survey by going to www.nationalpayrollweek.com. Every response we get will help the payroll industry better respond to workers’ changing needs and concerns.

Spread the word about National Payroll Week with the e-greeting card cialis uk.  The NPW e-card is a perfect way to get everyone who loves payday involved in the NPW celebration.  This year’s e-card lets you place photos of your friends, family, neighbors — anyone who loves getting their paycheck — directly into the card. It’s FREE, fun, and easy. So take a moment and send the e-greeting card to everyone you know. Send the NPW e-greeting card from www.nationalpayrollweek.com.

Educate the teens in your community on September 4, Money Matters National Education Day. On this special day, APA members head into their communities to teach the next generation of workers all about their paychecks!  More than 600 APA members have already volunteered to teach! If you’re interested, you can still volunteer.  Visit the NPW website, www.nationalpayrollweek.com, for more information.  You may even help your chapter’s region by participating.

Get recognition for you and your company!  If your company is celebrating National Payroll Week and honoring your payroll professionals, then it’s an NPW Supporter. Be sure to sign up your company and be recognized along with other well-known NPW Supporter companies, such as Godiva, Sprint, Outback Steakhouse, La Quinta, and more! Visit www.nationalpayrollweek.com for more information.

Have a wonderful National Payroll Week!

This special week celebrates many things important to each of us who work. From the economic, cultural, and social achievements of workers, to the significance of “an honest day’s work for an honest day’s pay,” National Payroll Week is a celebration on many levels.

NPW celebrates the unique partnership among America’s workers, their companies, the payroll professionals who pay them and critical government programs such as, social security, Medicare, fair labor standards and child support. Together, through payroll withholding, they contribute and collect 64.2% of U.S. Treasury revenue.