Payroll Update The employee fica rate of 4.2% has been extended for the rest of the year. Since the rate was changed to 4.2% perman [...]
Read moreThe Congress and Senate have passed the payroll tax cut bill and it is headed for the President's signature. With this bill, the employee fica tax rate would remain at 4.2% until the end of the year. [...]
Read moreUnder the terms negotiated by Congress, the law also includes a new “recapture” provision, which applies only to those employees who receive more than $18,350 in wages during the two-month perio [...]
Read moreAs of today 12/23/11, the payroll tax holiday was extended for two months. The Fica rate will be 4.2% for January and February 2012 and then increase to 6.2% in March. [...]
Read moreThe maximum contribution employees can make under a traditional, safe harbor or automatic enrollment 401(k) plan has increased from $16,500 to $17,000 for 2012. Traditional, safe harbor and automa [...]
Read moreThe mileage rate for 2012 is 55.5 cents per mile. IRS Link [...]
Read moreAttached is a payroll year end checklist to ensure you are ready for 2012. This also includes procedures for those customers using Timeclock and ACTFast systems. Read more