Regulations have restored the FICA/FUTA exemptions for employing family members and members of religious orders in LLCs and other disregarded entities that didn’t elect to be treated as corporations for federal payroll tax purposes. The regs became effective Nov. 1, 2011, but you may apply them to wages paid beginning Jan. 1, 2009.
You can enjoy the company’s holiday bash even more after you get through these year-end payroll duties:
Since 2008, states have borrowed heavily from the federal government to pay regular unemployment benefits. Bad: Employers in states that fail to pay back those loans within two years can’t take the full 5.4% FUTA credit. Credit reduction states for 2011 FUTA taxes have now been identified.
Work authorization. Beginning Jan. 1, 2012, general contractors and subcontractors contracting with the state or a political subdivision must present proof that they are enrolled in E-Verify. Beginning April 1, 2012, all employers must enroll in E-Verify. Employers that continue to employ unauthorized workers may be ordered to terminate their employment, and may be subject [...]
Child support. Employers may be required to electronically receive child support withholding orders and medical support withholding orders. On employers’ consent, other state agencies may send administrative orders electronically. (Ch. 61, L. 2011) Minimum wages. For 2012, the inflation-adjusted minimum wage increases to $7.65 an hour, from $7.35. Payment of wages. Beginning July 20, 2011, [...]
Leave. Employees who take a leave of absence for organ donation may take up to 30 business days in a one-year period; employees who donate bone marrow may take up to five business days in a one-year period. Employers may require employees to take a specified number of earned but unused days off for paid [...]
Minimum wages. For 2012, the inflation-adjusted minimum wage increases to $7.64 an hour, from $7.36. Unemployment insurance. Employers may make voluntary contributions by March 15. (H.B. 1288, L. 2011)
Family leave. Beginning Jan. 1, 2012—with the exception of certain manufacturing employers, tax-exempt employers and employers that provide comparable paid leave—employers that employed at least 50 service workers during any quarter of the preceding year must provide up to 40 hours of paid sick leave per calendar year. Employers may provide more leave than the [...]
Minimum wages. For 2012, the inflation-adjusted minimum wage increases to $7.67 an hour, from $7.35. Unemployment insurance. Employers can continue to pay their unemployment contributions in quarterly installments through 2014. (Ch. 235, L. 2011)
Garnishment. The state supreme court has agreed with the State Bar of Georgia that a garnishment proceeding is a legal procedure, that only lawyers may represent corporations and, therefore, that a nonlawyer (i.e., an employer) that answers a garnishment summons is engaged in the unlicensed practice of law. Income tax withholding. The phrase “Internal Revenue [...]