California Payroll Report articles from June 2003

California Payroll Report archives from June 2003

It's deja vu all over again.
June 21, 2003... For many payroll managers, the signing of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) has brought back memories of the summer of 2001, when the sweeping changes of EGTRRA (the Economic Growth and Tax Relief...

New tax law jump-starts lower rates, tax breaks.
June 21, 2003... After much Congressional wrangling (and just as much press coverage), another sweeping tax cut bill has been signed into law. And while much of the public debate revolved around non-payroll issues such as capital gains, depreciation, and...

Revised withholding allowance table for July 2003 through December 2004.
June 21, 2003... Revised Withholding Allowance Table For July 2003 Through December 2004 The wage amounts shown in the Percentage Method tables on page 4 and 5 are net wages, after the deduction for the employee's total withholding allowances...

The professional exemption: what is a "learned" profession?
June 21, 2003... We're still waiting for the U.S. Department of Labor (DOL) to finalize the new rules for white-collar exemptions under the Fair Labor Standards Act (FLSA). In the meantime, Leo Griffin, director of Finance for the Sisters of the Holy Names...

Tables for percentage method of withholding (for wages paid through December 2004).
June 21, 2003... Tables for Percentage Method of Withholding (For Wages Paid Through December 2004) TABLE 1--WEEKLY Payroll Period (a) SINGLE person (including head of household)-- If the amount of wages (after subtracting The...

IRS issues withholding and reporting requirements for Sec. 457(b) plans.
June 21, 2003... The IRS has issued Notice 2003-20, which contains the withholding and reporting requirements for state and local governments' and tax-exempt organizations' Sec. 457(b) deferred compensation plans. Specifically, the notice addresses... *...

More clarifications and corrections for IRS publications.
June 21, 2003... Once again, the IRS has announced the occurrence of errors and wrong impressions in some of its explanatory publications. Here are the latest: * Pub. 15, Circular E, Employer's Tax Guide The IRS has been made aware that there is some...

July 2003.
June 21, 2003... 2 Wednesday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid June 25-27. 7 Monday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid June...

August 2003.
June 21, 2003... 1 Friday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid July 26-29. 6 Wednesday FICA and withheld income tax. Semiweekly depositors deposit tax on wages paid July 30-August 1. 8...

September 2003.
June 21, 2003... 4 Thursday FICA and withheld income tax, Semiweekly depositors deposit the tax on wages paid August 27-29. 5 Friday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid August...

October 2003.
June 21, 2003... 1 Wednesday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid September 24-26. 3 Friday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid Sept....

November 2003.
June 21, 2003... 5 Wednesday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid October 29-31. 7 Friday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid ...

December 2003.
June 21, 2003... 1 Monday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid November 22-25. 3 Wednesday FICA and withheld income tax. Semiweekly depositors deposit the tax on wages paid...

New look and address for SSA Web site.
June 7, 2003... The Social Security Administration (SSA) has launched its redesigned Web site, which has a new look, user-friendly navigational tools (including better access for people with visual or physical disabilities), and more online services for...

IRS issues final regs on backup withholding.
June 7, 2003... The IRS has published final regulations relating to backup withholding on payments made to nonemployees. In particular, the final regs clarify... * the procedures to follow if you receive multiple notices from the IRS that a payee's...

IRS overruled: trucking company not liable for drivers' employment taxes.
June 7, 2003... In recent years, we've presented several cases involving worker classification issues and the inherent employment tax awards. And the decision in most--if not all--of those cases has been in the IRS's favor. But here, in a welcome change of...

Voluntary or mandatory--there's a limit to what you can deduct from an employee's pay.
June 7, 2003... Federal and state income tax withholding, FICA taxes, 401(k) contributions, health insurance, life insurance... these are just some of the "standard" payroll deductions you regularly make from employees' wages. Add to those the occasional or...

Medical reimbursements through debit or credit cards may be excludable from employees' income.
June 7, 2003... The IRS has announced that, under certain circumstances, medical expense reimbursements provided by employers through debit or credit cards and other electronic media are excludable from employees' gross income [Rev. Rul. 2003-43, IRB 2003-21...

New ruling clarifies application of the "continuing employment exception" for state employees.
June 7, 2003... In a new revenue ruling, the IRS has clarified that an employee of a state or political subdivision must be a member of a retirement system in order to be eligible for the continuing employment exception to the Medicare portion of FICA under...