700,000 return preparers registered through new PTIN system

The IRS has registered 700,000 return preparers under the new requirement that they obtain a preparer tax identification number (PTIN), David Williams, the director of the IRS’s Return Preparer Office, announced during a March 30 IRS webinar. Preparers have been using an online PTIN registration system for six months since the IRS established it on […]

Virgin Islands announces its 2011 contribution rates

For 2011, contribution rates will range from 0.30% to 6.0%. The new employer rate is 1.0% (DOL Communication).

IRS requests comments on HCTC program forms

The IRS is soliciting comments concerning Form 13865, Health Coverage Tax Credit (HCTC) Paper Check Request and Form 13929, Health Coverage Tax Credit (HCTC) Administrative Change Form. These forms are used to help manage the HCTC program. Health plan administrators will use these forms to submit requests of; changes to their account information, waivers from […]

SSA to expand use of tax refunds to recover benefit overpayments

Newly proposed amendments to its regulations would expand the circumstances under which the Social Security Administration would be able to recover benefit overpayments from tax refunds. Under current rules, benefit overpayments under Titles II, VIII and XVI of the Social Security Act may be offset against a tax refund only if the right to collect […]

IRS issues guidance on e-filing; hardship waivers

The IRS has issued guidance for tax return preparers on requests for waiver of the electronic filing requirement due to undue hardship. The waiver request procedures, like the electronic filing requirement, apply only to “specified tax return preparers.” The IRS issued Notice 2010-85, I.R.B. 2010-51, 877 on December 2, 2010, containing proposed guidance on the […]

Virginia announces employee misclassification study

The Joint Legislative Audit and Review Commission (Commission) has been directed to study any misclassification of employees as independent contractors in Virginia. In conducting its study, the Commission will (1) review the status of employee misclassification in the commonwealth, (2) review the consequences of any misclassification to the workforce, (3) estimate the amount of revenue […]

Michigan sets its 2011 contribution rates

Contribution rates for employers with five or more years of experience will continue to range from 0.06% to 10.3% in 2011. The maximum rate of 10.3% includes a 6.3% maximum chargeable benefit component, a 3.0% maximum account building component and a 1.0% maximum nonchargeable benefits component. Note that if the employer has submitted no quarterly […]

IRS issues guidance on health care reform reporting

The IRS issued interim guidelines on information reporting to employees of employer-sponsored health coverage as required under Code Sec. 6051(a)(14). Form W-2, Wage and Tax Statement, is the form used by the employer to inform employees of the cost of their health care coverage. The guidance generally applies to year 2012 Forms W-2; however, employers […]

Yonkers NY withholding tables released

New Yonkers, New York withholding tables have been released effective for wages paid on and after May 1, 2011. The tables were revised to reflect recent tax legislation (see CCH Payroll Management Guide Report Letter 2192, dated March 29, 2011). Effective May 1, 2011, the Yonkers resident supplemental withholding rate will be 1.70975%. In addition, […]

Maine amends its UI law regarding extended benefits

Maine’s Employment Security Law has been amended as follows: Extended benefits triggers. In addition to the conditions already provided in the Maine UI law, there is a state “on” indicator for a week in the period beginning December 19, 2010, and ending on or before December 31, 2011, or until the date established in federal […]