Tag Archives: Making Work Pay
Will I be under withheld for 2009 Taxes?
Your federal tax withholding has recently been reduced and there may be a consequence come tax time. In all likelihood, the reduction is attributable to the Making Work Pay Credit. Continue reading
Am I overpaying in withholding and estimated tax?
Although an annual review of your form W-4 (Employee’s Withholding Allowance Certificate) or estimated tax payments is always important, it may be particularly imperative to do so in 2009. The current economic recession and other changes to your personal and financial situation may have had, and will continue to have, a significant impact on your income. Moreover, recent changes in the tax law, including extensions of certain deductions and credits through 2009, make accurately estimating your tax and ensuring you are not overpaying in withholding all the more important. Changes in the latest stimulus tax package likely will require further adjustments to withholding and estimated tax for many taxpayers.
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Posted in Tax, Tax Planning
Tagged Estimated Taxes, Making Work Pay, Payroll Taxes, Tax, Tax Planning, W-4
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Payroll and Cobra Provisions of the Economic Stimulus Plan
As published on the AICPA’s Economic Crisis Resource Center:
Several provisions of the economic stimulus plan may have a significant impact on your company or clients’ business, including the “Making Work Pay” tax credit and a host of COBRA requirements and provisions, ranging from a special 60-day election period and an additional plan enrollment option for COBRA recipients.
Read the article for a summary of the provisions that may affect your business.
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Posted in Accounting & Auditing, Tax
Tagged AICPA Economic Resource Center, COBRA, Making Work Pay, Stimulus Plan
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