Category Archives: Tax

2014 Payroll Related Tax Updates

With 2013 coming to a close, the Internal Revenue Service has released its series of tax updates for 2014. The following topics are discussed in this article: Social Security (OASDI) Medicare 2013 FUTA Credit Reduction Minimum Wage Changes Section 132 … Continue reading

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Affordable Healthcare Act (ACA)

COMPLIANCE UPDATE        Deadline October 1st. This information is provided to help you to prepare for your compliance requirement with the Affordable Care Act. Even though the “Employer Mandate” and “Full Time Equivalent” calculations have been deferred another year, there is … Continue reading

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IRS Talks About Tax Scams and Tips

The following was taken directly from an IRS press release: Protect Yourself from the Dirty Dozen Tax Scams The IRS’s annual ‘Dirty Dozen’ list includes common tax scams that often peak during the tax filing season. The IRS recommends that taxpayers be … Continue reading

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Revised I-9 Employment Eligibility Form

The U.S. Citizenship and Immigration Services (USCIS) published a revised Employment Eligibility Verification Form I-9 for use. All employers are required to complete a Form I-9 for each employee hired in the United States. Employers should not complete a new … Continue reading

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2013 Transit Limits Revised

In conjunction with President Obama signing today the American Taxpayer Relief Act of 2012 (ATRA) effective immediately the monthly limit for Mass Transit Reimbursement has been increased to $240. This represents a significant increase in potential mass transit contributions and … Continue reading

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2013 Medicare Tax Addition

Effective January 1, 2013, an additional Medicare tax will impact employers and payroll service providers. The Patient Protection and Affordable Care Act (PPACA) increases the Medicare hospital insurance tax rate on wages by 0.9% (from 1.45% to 2.35%) for higher-income individuals … Continue reading

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IRS Announces 2013 Pension Plan Limitations

IRS Announces 2013 Pension Plan Limitations; The following was copied directly from the IRS website (see link above): “WASHINGTON — The Internal Revenue Service today announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax … Continue reading

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MCTMT Declared Unconstitutional

A Nassau County Supreme Court decision found the Metropolitan Commuter Transportation Tax (MCTMT) to be unconstitutional on August 22, 2012. MCTMT Found Unconstitutional As many of you may now know, on August 22, 2012 the Nassau County Supreme Court found … Continue reading

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