The IRS created Form 8822-B for businesses to inform them of a change of address or change of the identity of a responsible party. This form becomes effective January 1, 2014 and must be filed within 60 days of a change. The updated form can be found on the IRS website at http://www.irs.gov/pub/irs-pdf/f8822b.pdf. Please note that there [...]
Join us in welcoming the following new hires to the JMF team! Katie Eagan accepts position at JMF as a staff accountant.Katie Eagan began full time at JMF in November as a staff accountant in tax and accounting. Miss Eagan worked as an intern for JMF during the 2012 and 2013 tax seasons. She graduated [...]
This post is directly from the IRS Newwire Service and has not been written by JMF. It is important information for our clients and therefore is reposted for your information. IRS Warns of Pervasive Telephone Scam IRS YouTube Video: Tax Scams: English | Spanish | ASL WASHINGTON — The Internal Revenue Service today warned consumers [...]
The Social Security Administration has announced that the 2014 social security wage base will be $117,000 up from $113,700 in 2013. There is no change to the percentage of withholding or matching and both remain at 6.2% up to the wage base for 2014. Most software packages will update this information automatically in mid-December for [...]
Reminder to SIMPLE IRA plan sponsors: The required annual notification to your eligible employees must be provided no later than Friday, November 1, 2013 for the 2014 plan year. Eligible employees must receive notification of the upcoming election opportunity along with the sponsor's choice of contribution method that will be used next year. While some [...]
Linda Forde, department manager for the client services department at JMF (which provides bookkeeping, payroll and other financial and accounting services to clients), will host a one-day QuickBooks class in Selma, Alabama for all interested parties on November 8, 2013. The cost is $35 per person; drinks and materials will be provided. The class will be held [...]
Linda Forde, department manager for the client services department at JMF (which provides bookkeeping, payroll and other financial and accounting services to clients), will host a one-day QuickBooks class in Tuscaloosa, Alabama for all interested parties on November 7, 2013. The cost is $50 per person; snack, drinks and materials will be provided. The class will be [...]
The Alabama Department of Labor (formerly the Department of Industrial Relations) posted the following to their website: Effective immediately, Alabama Department of Labor will begin assessing a $25 penalty for each newly hired or rehired employee that is not reported to the New Hire Directory. A newly hired employee is an employee who: 1.) [...]
Managing Shareholder, Bryan Chandler, speaks about Mercedes-Benz celebrating their 20th Anniversary in Alabama in this WVUA segment!
Unified Estate and Gift Tax (lifetime) Exclusion: $5,340,000 GST Tax Exemption: $5,340,000 Gift Tax Annual Exclusion: $14,000 (no change)