The deadline for electronically filing W2 and 1099 forms is nearing. Per IRS and SSA regulations any person/s required to file 250 returns or more must file those returns electronically. Others with less than 250 returns may also choose to electronically file their returns.
For the tax year 2008 the deadline to E-File your W2 and 1099 Misc forms is March 31, 2009. In order to E-File a return you must have a software that generates an electronic file that meets IRS/SSA specifications.
W2 Mate offers a complete solution for importing, preparing, processing, printing and E-Filing 1099 and W2 forms. This W2/1099 form printing and reporting software supports an unlimited number of companies, employees, recipients and forms.
You can download a free demo version of the software at http://www.realtaxtools.com/download.html
Monday, March 23, 2009
Monday, March 16, 2009
Form 941 Changes
The federal government has changed the 941 form. With the stimulus package income tax changes the form 941 has changed to accommoate the COBRA payments. The COBRA premium payment assistance payments are reflected on box 12a. Box 12b reflects the number of individuals provided COBRA premium assistance. Box 13 has been added, this box will be filled with the total from boxes 11 and 12a. The value of box 12b will not affect the values in boxes 13, 14 or 15.
The other change is with box 7. Box 7 now includes this quarter's adjustments only which are 7a, 7b and 7c. This means adjustments 7d, 7e 7f and 7g no longer exist on the form.
The Payroll Software I use, Payroll Mate, has updated the 941 form. The three new boxes 12a, 12b and 13 have been added to part 1of the 941 form. Payroll Mate calculates box 13 from boxes 11 and 12a. However, Payroll Mate does not calculate the values of boxes 12a and 12b the user inputs the values. Payroll Mate will reflect the value of both boxes on the printed form.
My Payroll Program has been updated to reflect the income tax changes of the The American Recovery and Reinvestment Act of 2009.
You can download a free demo version of the program at http://www.realtaxtools.com/Downloads/PayrollMateSetup.exe
The other change is with box 7. Box 7 now includes this quarter's adjustments only which are 7a, 7b and 7c. This means adjustments 7d, 7e 7f and 7g no longer exist on the form.
The Payroll Software I use, Payroll Mate, has updated the 941 form. The three new boxes 12a, 12b and 13 have been added to part 1of the 941 form. Payroll Mate calculates box 13 from boxes 11 and 12a. However, Payroll Mate does not calculate the values of boxes 12a and 12b the user inputs the values. Payroll Mate will reflect the value of both boxes on the printed form.
My Payroll Program has been updated to reflect the income tax changes of the The American Recovery and Reinvestment Act of 2009.
You can download a free demo version of the program at http://www.realtaxtools.com/Downloads/PayrollMateSetup.exe
Friday, February 27, 2009
Stimulus Package Changes Withholdings
President Obama has signed the stimulus package. What does this mean for employers? We are required to have the tax table changes in effect for our employees as soon as possible no later then April 1, 2009.
I have contacted my Payroll Software provider, they have advised me that the program will be updated. As I have stated before Payroll Mate makes doing payroll easy, predictable, and affordable. Any updates to the Payroll Program are free of charge including the new IRS tax tables. All updates for Payroll Mate are sent via the Internet. This makes getting the updates quick and hassle free.
This software has been wonderful at a time when we need to be cutting back on spending, I feel this program is economical. As with other providers Payroll Mate fees were not raised. For $99 you get a terrific program, helpful technical support and free updates.
You can download a free demo version of the software from the following link http://www.realtaxtools.com/payrollsoftware/Small-Business-Payroll-Software.html [Payroll Software Download].
I have contacted my Payroll Software provider, they have advised me that the program will be updated. As I have stated before Payroll Mate makes doing payroll easy, predictable, and affordable. Any updates to the Payroll Program are free of charge including the new IRS tax tables. All updates for Payroll Mate are sent via the Internet. This makes getting the updates quick and hassle free.
This software has been wonderful at a time when we need to be cutting back on spending, I feel this program is economical. As with other providers Payroll Mate fees were not raised. For $99 you get a terrific program, helpful technical support and free updates.
You can download a free demo version of the software from the following link http://www.realtaxtools.com/payrollsoftware/Small-Business-Payroll-Software.html [Payroll Software Download].
Friday, February 6, 2009
Printing My W2 Forms
It's that time of year again. It does seem to come around awful quickly. Hopefully, by now, we have all printed and mailed W2 forms to our employees.
I was able to complete this task directly from my
Payroll Program . Payroll Mate allows me to print W2 copies B, C, D, state 1 and 2 to blank paper. The employees' W2 numbers are automatically generated from the year's payroll.
As I talked about last year Payroll Mate added a new feature for laser substitute printing. This feature allows me to print W2 copy A and the W3 forms to blank paper. I paid an additional $25 for the convenience of bypassing the red ink forms of the past. The option is well worth the money. One note, you do need to print the laser substitute forms with a laser printer.
I was able to print all copies of W2 and W3 forms to blank paper directly from Payroll Mate .
You can download a free demo if you want to from the link below:
Payroll Software Download
I was able to complete this task directly from my
Payroll Program . Payroll Mate allows me to print W2 copies B, C, D, state 1 and 2 to blank paper. The employees' W2 numbers are automatically generated from the year's payroll.
As I talked about last year Payroll Mate added a new feature for laser substitute printing. This feature allows me to print W2 copy A and the W3 forms to blank paper. I paid an additional $25 for the convenience of bypassing the red ink forms of the past. The option is well worth the money. One note, you do need to print the laser substitute forms with a laser printer.
I was able to print all copies of W2 and W3 forms to blank paper directly from Payroll Mate .
You can download a free demo if you want to from the link below:
Payroll Software Download
Monday, December 29, 2008
2009 Payroll Reminders
Just a reminder of deadlines to come
1.February
Furnish 1099-MISC Forms to independent contractors and W-2 forms to employees who worked for you during 2008.
Deposit FUTA tax owed through Dec 2008 if $500 or less.
File 2008 Form 940 (Employer’s Annual Federal Unemployment (FUTA) Tax Return).
Deposit Payroll tax for January if applicable.
2.March
File Form W-3 (Transmittal of Wage and Tax Statements) with Copy A of all Forms W-2 you issued in 2008.
Deposit Payroll tax for February if applicable.
3.April
File Form 941 for the 1st quarter of 2009. Deposit FUTA tax owed through March if more than $500.
Deposit Payroll tax for March if applicable.
4.May,June
Deposit Payroll tax for the month before if applicable.
5.July
Deposit Payroll tax for June if applicable.
Deposit FUTA owed through June if more than $500.
File Form 941 for the 2nd quarter of 2009.
6.August,September
Deposit Payroll tax for the month before if applicable.
7.October
Deposit Payroll tax for September if applicable.
File Form 941 for the 3rd quarter of 2009.
Deposit FUTA owed through September if more than $500.
8.November
Ask employees whose withholding allowances will be different in 2009to fill out a new Form W-4.
Ask employees who want to receive advanced earned income credit payments during 2009 to complete Form W-5.
Deposit Payroll tax for October if applicable.
9.December
Deposit Payroll tax for November if applicable.
Verify the names and Social Security Numbers of your employees by using the Social Security Number Verification Service (SSNVS).
Place your order for W-2 forms for employees and 1099 forms for independent contractors.
Remind your employees to update their W-4 forms.
I have found useful information about payroll software and W2/1099 forms and supplies on the website www.realtaxtools.com
1.February
Furnish 1099-MISC Forms to independent contractors and W-2 forms to employees who worked for you during 2008.
Deposit FUTA tax owed through Dec 2008 if $500 or less.
File 2008 Form 940 (Employer’s Annual Federal Unemployment (FUTA) Tax Return).
Deposit Payroll tax for January if applicable.
2.March
File Form W-3 (Transmittal of Wage and Tax Statements) with Copy A of all Forms W-2 you issued in 2008.
Deposit Payroll tax for February if applicable.
3.April
File Form 941 for the 1st quarter of 2009. Deposit FUTA tax owed through March if more than $500.
Deposit Payroll tax for March if applicable.
4.May,June
Deposit Payroll tax for the month before if applicable.
5.July
Deposit Payroll tax for June if applicable.
Deposit FUTA owed through June if more than $500.
File Form 941 for the 2nd quarter of 2009.
6.August,September
Deposit Payroll tax for the month before if applicable.
7.October
Deposit Payroll tax for September if applicable.
File Form 941 for the 3rd quarter of 2009.
Deposit FUTA owed through September if more than $500.
8.November
Ask employees whose withholding allowances will be different in 2009to fill out a new Form W-4.
Ask employees who want to receive advanced earned income credit payments during 2009 to complete Form W-5.
Deposit Payroll tax for October if applicable.
9.December
Deposit Payroll tax for November if applicable.
Verify the names and Social Security Numbers of your employees by using the Social Security Number Verification Service (SSNVS).
Place your order for W-2 forms for employees and 1099 forms for independent contractors.
Remind your employees to update their W-4 forms.
I have found useful information about payroll software and W2/1099 forms and supplies on the website www.realtaxtools.com
Changes for 2009 Wage Withholding
Thought this may be helpful information
As in past years the IRS issued a 2009 tax guide for employers. Below is a summary of the new changes for the new year.
1. Social security and Medicare taxes (rate and cutoff)
Employers must stop withholding social security tax after an employee reaches $106,800 in social security wages in 2009. The maximum social security withholding amount in 2008 was $102,000.
2. New employment tax adjustment and claim for refund process
The IRS is introducing two new forms for the 2009 tax year: Form 941-X, Adjusted Employer’s QUARTERLY Federal Tax Return or Claim for Refund, and Form 944-X, Adjusted Employer’s ANNUAL Federal Tax Return or Claim for Refund.
3. Credit card payments
Employers can pay the balance due on Form 943 (Employer’s Annual Federal Tax Return for Agricultural Employees) and Form 945 (Annual Return of Withheld Federal Income Tax) by credit card. Employers can't use a credit card to make federal tax deposits.
4. Social Security Administration and magnetic media
Employers requesting verification of names and social security numbers between 51 and 250,000 employees can no longer use magnetic media to submit their requests to the Social Security Administration. Employers can upload a file through the Social Security Number Verification System (SSNVS).
5. Paid preparers must sign Form 941 and Form 944
The paid preparer’s section is no longer optional and is included in Part 5 of Form 941(Employer’s QUARTERLY Federal Tax Return) and Form 944 (Employer’s QUARTERLY Federal Tax Return).
Employers using an up to date 2009 payroll software to generate payroll and calculate withholding, shouldn't have a problem dealing with any of these changes for tax year 2009.
As in past years the IRS issued a 2009 tax guide for employers. Below is a summary of the new changes for the new year.
1. Social security and Medicare taxes (rate and cutoff)
Employers must stop withholding social security tax after an employee reaches $106,800 in social security wages in 2009. The maximum social security withholding amount in 2008 was $102,000.
2. New employment tax adjustment and claim for refund process
The IRS is introducing two new forms for the 2009 tax year: Form 941-X, Adjusted Employer’s QUARTERLY Federal Tax Return or Claim for Refund, and Form 944-X, Adjusted Employer’s ANNUAL Federal Tax Return or Claim for Refund.
3. Credit card payments
Employers can pay the balance due on Form 943 (Employer’s Annual Federal Tax Return for Agricultural Employees) and Form 945 (Annual Return of Withheld Federal Income Tax) by credit card. Employers can't use a credit card to make federal tax deposits.
4. Social Security Administration and magnetic media
Employers requesting verification of names and social security numbers between 51 and 250,000 employees can no longer use magnetic media to submit their requests to the Social Security Administration. Employers can upload a file through the Social Security Number Verification System (SSNVS).
5. Paid preparers must sign Form 941 and Form 944
The paid preparer’s section is no longer optional and is included in Part 5 of Form 941(Employer’s QUARTERLY Federal Tax Return) and Form 944 (Employer’s QUARTERLY Federal Tax Return).
Employers using an up to date 2009 payroll software to generate payroll and calculate withholding, shouldn't have a problem dealing with any of these changes for tax year 2009.
Wednesday, October 1, 2008
New Features for Payroll Mate
I recently received a call from Payroll Mate. It was a call to let me know updates were sent out and they added new options for the program. The company is also offering a $10 discount to customers who preorder the 2009 Payroll Software.
The new options you can add to the program are laser substitute printing for W2 copy A and the W3 Transmittal Summary forms, Direct Deposit and more employees and/or companies.
Laser substitute printing is wonderful if you do not want to purchase forms. You will be able to print the forms on blank paper.
Many companies/employees like to use direct deposit instead of paper checks nowadays. I'm sure this option will be well received by many customers.
The Payroll Program as it is will accommodate up to 10 companies with 75 employees per company all for $99. This new option will allow for larger companies to utilize the software. This option will accommodate up to 100 companies with 1000 employees per company.
Convenience this is what I think these new option add to the program. Since this is my first year using the program I was pleasantly surprised to find out that the price did not go up. Really, what product, especially today, has not gone up in price. As a matter of fact I purchased the program for less than last year because I got the $10 discount.
The updates to the program include the end of the year forms and check printing options. You can now print the checks in last name, first name or check number order.
You can download a free demo if you'd like from the link below:
Payroll Software Download This payroll solution is very easy to use and affordable.
The new options you can add to the program are laser substitute printing for W2 copy A and the W3 Transmittal Summary forms, Direct Deposit and more employees and/or companies.
Laser substitute printing is wonderful if you do not want to purchase forms. You will be able to print the forms on blank paper.
Many companies/employees like to use direct deposit instead of paper checks nowadays. I'm sure this option will be well received by many customers.
The Payroll Program as it is will accommodate up to 10 companies with 75 employees per company all for $99. This new option will allow for larger companies to utilize the software. This option will accommodate up to 100 companies with 1000 employees per company.
Convenience this is what I think these new option add to the program. Since this is my first year using the program I was pleasantly surprised to find out that the price did not go up. Really, what product, especially today, has not gone up in price. As a matter of fact I purchased the program for less than last year because I got the $10 discount.
The updates to the program include the end of the year forms and check printing options. You can now print the checks in last name, first name or check number order.
You can download a free demo if you'd like from the link below:
Payroll Software Download This payroll solution is very easy to use and affordable.
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