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IR-2009-15, Feb. 26, 2009 WASHINGTON — The Internal Revenue Service today released new detailed information that will help employers claim credit for the COBRA medical premiums they pay for their former employees. The IRS unveiled new information on this Web site, IRS.gov, that includes an extensive set of questions and answers for employers. In addition, […]
On Feb 21 2009, the IRS has released new tax tables that implement the ‘Making Work Pay’ stimulus package. Available for tax years 2009 and 2010, the credit is 6.2 percent of a taxpayer’s earned income with a maximum credit of $800 for a married couple filing a joint return and $400 for other taxpayers, […]
CNNMoney – President tells U.S. Treasury to implement cuts for 95% of Americans; by April 1, workers will see less taxes withheld from paychecks. The tax cuts are part of a $787 billion economic recovery plan passed by the Democratic-controlled Congress over Republican opposition. The aim is to put more money in the pockets of […]
Stimulus: How it may affect your wallet “Making Work Pay Credit: The bill provides a $400 credit per worker and a $800 credit per dual-earner couple. The full credit would be paid to people making $75,000 or less ($150,000 per dual-earner couple). For most working individuals, the credit will be paid over time at roughly […]
http://www.nytimes.com/2009/02/11/dining/11peanuts.html “The immediate response has to be, rip it off the menu,” said Johnny Iuzzini, pastry chef at Jean Georges, who checked the Food and Drug Administration’s Web site daily until the restaurant’s Bronx-based nut supplier, Bazzini, was completely cleared. Hundreds of products containing peanut butter have been recalled, all of them involving the products […]
On Feb 16, 2009, employers are required to withhold Federal Income Tax from employee who claimed ‘Exempt’ status in 2008 but have yet to complete a new W4 for 2009. Until a new W4 is provided the employer should withhold as single filing status with zero withholding allowances. Note. You cannot claim exemption from […]