The IRS has delayed the enactment of the portion of the Obama Healthcare Reforms that require employers to disclose the Health Insurance premiums that they pay on an employee's W-2. This is welcome news because it delays the additional paperwork that this portion of the law would require, even if it is for only a year.
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Social security recipients will not be receiving a cost of living adjustment in 2011 for the second year straight. The annual increases are tied to the CPI, and for the second year straight it didn't increase enough to warrant an increase in social security benefits.
Lawmakers are considering a one time $250 payment to recipients to make up for this lack of an increase. This is similar to the move they did in the past.
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Lawmakers are considering a one time $250 payment to recipients to make up for this lack of an increase. This is similar to the move they did in the past.
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Employers and small businesses need to beware of any emails coming from EFTPS, the federal tax payment processing system. These emails are attempts to steal your information and ultimately your money. The IRS and the EFTPS system do not operate by email, so you can always disregard an email from these entities.
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Corey Pfaffe, CPA answers this common question that young churches and start-ups have about their IRS status. His advice, it's not required for churches to complete the application but could be helpful in establishing once and for all that donations are tax-deductible.
More here
More here
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