Annual Taxable Wage Bases For 2023
Posted on November 07, 2022
Several states have released their state unemployment insurance (SUI) taxable wage bases for 2023. Employers should be aware that due to UI trust fund balances that are lower than anticipated and economic concerns regarding employer taxes, some states may make changes to their taxable wage bases later this year or early next year.
Category: News and Announcements
2023 IRS Form 941 Deposit Rules and Schedule
Posted on October 18, 2022
There are two deposit schedules (monthly or semiweekly) for determining when you deposit Social Security and Medicare taxes and withheld Federal income tax. These schedules tell you when a deposit is due after a tax liability arises (for example, when you have a payday). Before the beginning of each calendar year, you must determine which of the two deposit schedules you must use.
Category: News and Announcements
Myth About Payroll Taxes: All Tax-free Benefits Are Exempt From Payroll Taxes
Posted on October 18, 2022
Receiving tax-free fringe benefits means that employees do not have to pay income tax on what they receive. However, it does not mean that employers are off the hook for payroll taxes.
Category: News and Announcements
Recent Tax And Regulation Changes For 2022
Posted on October 18, 2022
Five Indiana Counties Increase Their Tax Rates, Virginia Revises Withholding Tables, California Increases Minimum Wage, Student Loan Relief Is Extended and Tax-Advantaged Repayment Support.
Category: News and Announcements
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