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Obama’s paycheck bonus You might not get a raise next year. But if the economic stimulus ideas being floated are any indication, you might get more money on payday anyway. NEW YORK (CNNMoney.com) — For many cash-strapped workers, Barack Obama’s plan to stimulate the economy could mean more take-home money in their paychecks. While details […]
(Washington, DC) – The District of Columbia income tax withholding tables and formulas have been changed to reflect the increases in the personal exemption and standard deduction. Employers must make use of the new tables and formulas for wages paid on or after January 1, 2009. Income Tax Withholding Tables* Changes in Exemption and Standard Deduction […]
All customers who have a current support contract are entitled to receive the End of Year update and the 2009 tax tables. Please contact support before printing your 2008 W2s and before running your first 2009 payroll. Besides the 2008 W2 module, the EOY of update is a rollup of all the fixes, optimizations, and […]
IRS Releases Advance Copies of 2009 Withholding Tables and EIC tables. The tables are effective for wages paid in 2009. The withholding allowance amount has increased for 2009 up to $3650. The IRS has also issued the percentage method tables for determining advance earned income credit amounts. The wage-bracket tables for withheld federal income tax […]
Michigan’s tax rate remains the same at 4.35% but the Personal Exemption Amount has increased to $3,600. From the michigan.gov web site. The 2009 exemption amount is $3,600 per year times the number of personal and dependency exemptions allowed under the IRC. An employee may not claim more exemptions on the MI-W4 than can be […]
For 2009, personal exemptions and standard deductions will rise and tax brackets will widen because of inflation adjustments announced today by the Internal Revenue Service. By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As a result, more than three dozen tax benefits, […]
Three states have made public their 2009 Withholding Tax Tables. California and Minnesota have both inflation adjusted their tax tables. Nothing too exciting here. New Mexico actually has lowered the top rate to 4.9% from 5.3% for single taxpayers making over 18050 and married taxpayers making over 31750. PayMaster Hospitality will update these and the […]
The Indiana Department of Revenue has revised some of its county income tax rate tables The following counties have changed their income tax rates, effective Oct. 1, 2008. (1) Carroll:1.15% on residents and 0.4% on nonresidents (2) Huntington:1.6% on residents and 0.5% on nonresidents (3) Miami: 2.54% on residents and 0.965% on nonresidents (4) Posey: […]
July 1st update for MD state taxes. Maryland has made a slight change in their tax rates that are effective July 1, 2008. Their website is not updated yet ! But comparing it to the update that went out Jan 1, 2008, it seems the only change is an additional bracket for employees making over […]
The IRS has issued a revenue ruling that provides nine examples on the supplemental wage withholding rules. The topics covered are as follows: (1) commissions paid at fixed intervals with no regular wages paid to the employee; (2) commissions paid at fixed intervals in addition to regular wages paid at different intervals; (3) draws paid […]