There is now a refund program in place for the Jefferson County Occupational Tax paid from January 12, 2009 through August 13, 2009. The Settlement Administrator has set a deadline of July 13, 2011 for employers to complete an Employee Refund Data Form to determine how much is owed and to whom. The forms can [...]
Beginning on July 1st, the 0.2% federal unemployment tax (FUTA) surtax is no longer in effect. The FUTA rate, before consideration of state unemployment credits, is now 6.0%. This means that FUTA will need to be calculated separately for the first half of the year and calculated separately for the second half of the year. [...]
Title: SBA Disaster Loan Deadline EXTENDED - Physical DamagesLink out: Click here: >FEMA News ReleaseDescription: For physical damages resulting from the Alabama storms, tornadoes, flooding occurring April 15th and afterwards, the deadline for filing for an SBA Disaster loan for PHYSICAL damage has been EXTENDED to Monday July 18, 2011. The deadline for filing for a loan for [...]
The IRS is actively reviewing worker classifications looking for cases where an employer has treated a worker as an independent contractor when they are, in fact, an employee. They have increased enforcement efforts using the 1099 Matching Program where they look at people who file only one 1099-MISC with their personal return or look at [...]
With the recent tornado disasters, we've had many clients who have suffered timber damage. The IRS has recently updated their guidance on how to claim timber casualty losses. Casualty losses are limited to your basis in the property. If you have timber casualty losses that occurred in 2011, you may claim those losses on a 2010 amended or extended [...]
If you lost shade trees or had other storm or tornado related damage to landscaping on your personal property, you may qualify for a casualty loss deduction on your Form 1040. However, under current law, your deduction is limited to the lesser of your basis in the trees or landscaping damaged or destroyed or the [...]
The 2011 Sales Tax Holiday is scheduled for August 5th-7th. Municipalities have until July 6th to notify the Alabama Department of Revenue regarding participation. Currently, the Cities of Tuscaloosa, Northport and Birmingham are participating as well as Tuscaloosa County. For a list of exempt items please visit www.revenue.alabama.gov/salestax/salestaxhol.htm and click on the quick reference sheet of exempt [...]
If you have any storm damaged timber, you may want to check into whether funds are available through the Emergency Forest Restoration Program. You should check with our local USDA Farm Service Agency regarding sign-up periods which may vary by county. USDA FSA Offices: Tuscaloosa and Pickens County - 205-553-1733 Hale County - 334-624-3856 Greene [...]
Quarterly Payroll Tax Returns, Federal Form 941 and State form A-1 have been extended until June 30, 2011 for counties declared Federal Disaster Areas after the April tornadoes. State Unemployment forms should be submitted as soon as possible. Our experts are ready to assist you with these forms and answer any questions you may have [...]
JamisonMoneyFarmer PC, Certified Public Accountants, is pleased to announce the following: [readMore] [readMoreContent] Pasha G. McAbee, CPA, has been promoted to manager. She joined the Accounting and Auditing Department in 2003. Pasha received her Bachelor of Science in Commerce and Business Administration - graduating Magna Cum Laude - and a Master of Accountancy with [...]