4874 Sparks Blvd
Sparks Nevada 89436
775-358-1121
1833 W. Main St., Ste 138
Mesa, AZ 85201
480-835-0027
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4874 Sparks Blvd Sparks Nevada 89436
775-358-1121 1833 W. Main St., Ste 138 Mesa, AZ 85201 480-835-0027 |
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Payroll Systems is here to keep you informed about the Stimulus Bill (ARRA).
On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA-2009), also known as the "Stimulus Bill". This legislation includes changes to COBRA provisions, IRS revised form 941, revised IRS tax tables, and many other areas.
Payroll Systems has made changes to comply with the new Wage Withholding and Advanced Earned Income Credit (AEIC) tax withholding and payment tables. Modifications have been made to all Payroll Systems payroll and payroll tax platforms beginning with payrolls processed on Thursday February 26, 2009. As a result, employees may see a decrease in their federal withholding and/or an increase in their AEIC (if applicable). If you have employees in states that follow the federal tables, they may also see a change in their state withholding.
The IRS has advised that most employees do not need to fill out a new Form W-4 (Employee's Withholding Allowance Certificate Form). We recommend however that individuals or couples with multiple jobs may want to submit a revised Form W-4 to validate that enough withholding is withheld for the combined incomes. Publication 919 ("How Do I Adjust my Tax Withholding?") provides additional guidance for tax withholding and can be found on the IRS website: www.irs.gov.
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