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The IRS is issuing guidance as quickly possible on the many reporting issues created by the HIRE Act. A final version of Form 941 for 2Q should be released by the IRS next week April 6th. A new form W-11 will be released as well. This ‘Hiring Incentives to Restore Employment (HIRE) Act Employee Affidavit’ […]
Due to the available OASDI credit the HIRE act created, there will be multiple revisions to the 941 form this year. The credit is not available to take in the 1Q so the 1Q 941 is the same as the 2009 form except for the year. 2Q will have a new form that will have […]
Payroll Tax Incentives in New Jobs Bill Quick overview of two key tax changes affecting businesses in the recently enacted Hiring Incentives to Restore Employment (HIRE) Act. To help stimulate the hiring of workers by the private sector, the new law exempts any private-sector employer that hires a worker who had been unemployed for at […]
Update available that allows you to print the 941 for 2010. Other fixes: Magmedia fix for MI locals. Magmedia now can be filter by locality for MI,OH More reports export to excel. 8027 for 2009.
More information on the COBRA reduction act can be found on the IRS web site. http://www.irs.gov/newsroom/article/0,,id=204708,00.html There are now four sections of questions covering: Administration and eligibility Form preparation Reporting and documentation Taxability and recapture Much of the material here was updated on 3/19/09. Important Highlight: FP-17 Q. Does a COBRA premium assistance credit reduce […]
http://www.irs.gov/newsroom/article/0,,id=204708,00.html Please see the article for full details… Under the American Recovery and Reinvestment Act of 2009, certain individuals who are eligible for COBRA continuation health coverage, or similar coverage under State law, may receive a subsidy for 65 percent of the premium. These individuals are required to pay only 35 percent of the premium. […]
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, […]