Tax Withholding Guidance for 2013

by | Jan 15, 2013 | Employment Law

The Society for Human Resource Management (SHRM) provided this update on January 8, 2013: The IRS released the updated income tax withholding tables on Jan. 3, 2013 reflecting the new changes to the tax code approved by Congress on New Year’s Day. The updated tax...
2013 Retirement Plan Limits Announced by the IRS

2013 Retirement Plan Limits Announced by the IRS

by | Nov 20, 2012 | Benefits

In October, the IRS announced the cost-of-living adjustments to dollar limitations for 2013 retirement plans. Xenium partner, Principal, provided us with a year over year comparison of the limits taking effect January 1, 2013.  Limit 2012 2013 Compensation Limit...

Payroll Tax Cut Extended to the End of 2012

by | Feb 23, 2012 | Employment Law

The IRS issued this statement on February 23, 2012 regarding the Payroll Tax Extension: “WASHINGTON — The Internal Revenue Service today released revised Form 941 enabling employers to properly report the newly-extended payroll tax cut benefiting nearly 160...

Payroll Tax Cut Temporarily Extended into 2012

by | Dec 27, 2011 | Employment Law

On December 23, 2011, the IRS announced that the Social Security payroll tax cuts, enacted at the beginning of 2011, would be temporarily extended into 2012. Read the entire news release: WASHINGTON — Nearly 160 million workers will benefit from the extension of the...

Pension Plan Limits for 2012

by | Oct 20, 2011 | Employment Law

The IRS has announced the cost-of-living adjustments to dollar limitations for retirement plans for 2012. Here is a look at the changes from 2011 to 2012: Limit 2011 2012 Compensation Limit $245,000 $250,000 Defined Contribution Limit $49,000 $50,000 Defined Benefit...