President Obama signed into law a 2-month extension of the 2% reduction in employee Social Security tax on Friday 12-23-11. The employee Social Security rate remains at 4.2% through at least February 29, 2012.
Pieper Payroll has updated our tax software to reflect the extension of this payroll tax reduction.
Clients are starting to receive a form notice from NJ with instructions for filing the NJ-W-3 form. This is a reminder than filing of this form is included as part of your tax service with Pieper payroll and that no action is required on your part. A copy of the filings will be provided early 1Q12 with copies of your other year end forms.
This notice is informational. Your taxes rate have been updated by Pieper Payroll
Unemployment Insurance: 0.3825%
Disability Insurance: 0.2%
Workforce Development/Supplemental Workforce Funds: 0.0425%
Family Leave Insurance: 0.08%
Please note the new worker FLI and DI rates for the 1st and 2nd quarters of 2012. The 2012 Taxable Wage Base under UI, TDI and FLI: $30,300
This notice is informational. Your tax rates have been updated by Pieper Payroll
The New Jersey Division of Taxation has released the 2012 New Jersey Gross Income Tax Instruction Booklet. The percentage method
withholding tables are unchanged.
http://www.state.nj.us/treasury/taxation/pdf/current/njwt.pdf
Employers should use the updated forms
The 2012 W4 Form has been released. Employers should request that employees complete form W-4 every year or whenever their tax status changes. This form should be retained by the employer.
http://www.irs.gov/pub/irs-pdf/fw4.pdf?portlet=103
This notice is informational. Your tax deposit process has been
updated by Pieper Payroll
The State of New Jersey recently notified ACH credit payers of a contractual banking change that affects tax, Unemployment Insurance and energy tax payments. Taxpayers who remit payments using the ACH credit method were instructed to change banking information.
Several clients have asked me about a recent bill they have received from NJ Department of Labor and whether it was payroll related. This is not payroll related. This is a NJ assessment bill that has been assessed on NJ employers as a result of interest costs NJ incurred borrowing money from the
Federal Government. Details at this web site:
http://lwd.dol.state.nj.us/labor/employer/ea/empinfo/FLINT.html and below
Employer action is required to provide Pieper Payroll with your
new experience rates
NJ Department of Labor and Workforce has released their annual notification of business experience tax rates for 2H11/1H12. They were mailed by NJ DOL on 7-29-11 and were effective 7-1-11. If you have not received your rate yet please call NJ DOL @ 609-633-6400 option 1 then option 5 for rates.
This form should be faxed to our office @ 908-926-2348 so we can update your tax rates. These tax rates vary by business based on your unemployment and disability tax claims.
This notice is informational;
The 2011 New Jersey's Unemployment & Disability Insurance Programs Handbook is available
http://lwd.dol.state.nj.us/labor/forms_pdfs/employer/B-426EmployerHndbk.pdf
Use this form for new employees.
Any employees that would like direct deposit should complete this form.