The Internal Revenue Service announced an increase in the standard mileage rates for the final six months of 2011. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through December 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for [...]
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Beginning on July 1st, the 0.2% federal unemployment tax (FUTA) surtax is no longer in effect.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 [...]
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 [...]
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 [...]
Volunteer Efforts & In-Kind Donations Can Count as $ for T-Town [readMore] [readMoreContent] The rebuilding of our City is going to be costly, despite the insurance and FEMA reimbursements. One way to help is to register when volunteering or donating in-kind items (use of equipment or providing materials/supplies) because your hours of labor and [...]
ALABAMA TORNADO ASSISTANCE AND RELIEF - ISSUE II May 24, 2011 This is the second in our series of newsletters covering tax and relief issues to help with the recovery effort in Alabama. Please let us know if you need a copy of our previous newsletter. Read more... This issue will cover: Casualty Gains [...]
ALABAMA TORNADO ASSISTANCE AND RELIEF May 5, 2011 On April 28th the President declared a major disaster exists in the State of Alabama and ordered Federal aid to supplement State and local recovery efforts in the area struck by severe storms, tornadoes, straight-line winds, and flooding beginning on April 15, 2011, and continuing. The [...]