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)
Josh Angel accepts position as Network and System Analyst with JMF Technologies. Josh Angel began full time employment with JMF Technologies in September 2013. Angel graduated with a Bachelor of Science in Information Technology in July 2006 from Herzing College in Birmingham, AL. He previously worked with DCH as a Certified Analyst. He is married [...]
The IRS has explained the tax treatment of legal fees paid under settlement agreements with employees who brought suit against employers. The fees may be taxable and they may actually be subject to employment taxes. How you report those fees to the employees and to the IRS is determined by a four-step process: 1. [...]