Reminders About Filing W2s

Posted on December 31, 2012 by Leasa Magnuson in Business Tax

As the new year begins I thought it might be helpful to keep the following procedures in mind when preparing your W2s and W3. Form W-3 is the total of all Forms W-2. The sum of line 2 for the four quarters on Form 941 should balance to the amount appearing in Box 1 of […]

View Post Payroll Taxes, W2

Taxpayers Face Increased Withholding Despite 2% Payroll Tax Cut

Posted on February 23, 2011 by Leasa Magnuson in Individual Tax, Uncategorized

One of the most prominent features of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is the one-year “payroll tax holiday” for 2011—a two-percentage-point reduction in payroll tax for employees. According to an IRS news release, this reduction will cause the take-home pay of millions of workers to increase in 2011.However, […]

View Post W2, Wage Withholding

Steps To Take When Missing A W-2

Posted on February 16, 2011 by Leasa Magnuson in Individual Tax

Employers have until January 31 to send employees their 2010 W-2 wage earning statement, but what do you do if you still haven’t gotten yours? The IRS has 4 steps they would like you to take. 1. Contact the employer to inquire if and when the W-2 was mailed. After making contact, allow a reasonable […]

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