The new stimulus legislation means changes to payroll no later than April 1, 2009.
{This information is from Intuit’s website and posted here for your information. Visit Intuit’s payroll website for additional information.}
What does the stimulus plan mean to your business?
New payroll tax credits and COBRA provisions will mean changes to how you handle payroll taxes and quarterly tax filings. The IRS asks that employers calculate federal withholding and advance earned income credit payments with new tables just issued as soon as possible, but no later than April 1st, 2009.
Why not let Intuit Payroll handle the burden of tracking these changes so you can focus on running your business?
Over one million small businesses trust us to do just that already, more than any other payroll service.
With Intuit Payroll:
- Keep up with changes. Intuit Payroll’s team of compliance professionals works with tax authorities to get ahead of changing requirements and deliver the latest tax rates, tax forms (for services that include forms) and compliance information to our customers
- Be confident your payroll is in compliance. In 2008 alone, Intuit Payroll delivered over 490 compliance rule updates to customers. We worry about keeping up with changing payroll requirements, so you don’t have to!
- Get every penny of the payroll tax credit you deserve. The stimulus legislation provides up to $400 of payroll tax credits per eligible individual or $800 per couple. For as little as $100 per year for Basic Payroll service, Intuit can help you make sure that eligible employees get the tax credit dollars they’re entitled to.
A payroll update is scheduled for mid-March and will include important changes resulting from the new legislation. For more information, visit Intuit’s American Recovery and Reinvestment Act of 2009 webpage.
I really enjoyed reading your wisdom, obviously you know what are you talking about! Your site is so easy to navigate too, I?ve bookmarked it in my favourites 😀
I’ve been involved in taxes for longer then I care to admit, both on the personal side (all my working life!!) and from a legal standpoint since passing the bar and pursuing tax law. I’ve provided a lot of advice and righted a lot of wrongs, and I must say that what you’ve posted makes perfect sense. Please keep up the good work – the more people know the better they’ll be equipped to deal with the tax man, and that’s what it’s all about.
such a nice blog and we can get more information.
thank you
A slick package promising a large amount of features, but no major improvements have been made with this type of software. I would only trust the most basic of tax returns to TurboTax. A person with a simple tax return would be even better simply filling the forms out on their own. Bottom line- if you have any questions and wish to accurately fill out tax forms, contact a CPA.
For the employers who use a payroll software to calculate the federal tax withholdings you should be receiving the newly updated tax tables from your software provider. I would urge small business owners who are still doing payroll by hand to start using a payroll software solution. Payroll software can offer serious benefits, from increased payroll preparation efficiency to tangible cost savings.
Small business owners can obtain inexpensive, straightforward payroll software fairly easily. The software should include automatic calculations and customizable income, deductions and tax categories. Basic federal forms and business reports are included in some low cost payroll software.
A payroll software you may want to take a look at is Payroll Mate. Payroll Mate is a user friendly comprehensive payroll solution. This particular software has been updated to include the new federal withholding tables released by the IRS.
Download a free demo at http://www.realtaxtools.com