4874 Sparks Blvd

Sparks Nevada 89436

775-358-1121
 

1833 W. Main St., Ste 138

Mesa, AZ 85201

480-835-0027

Stimulus Info

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.


Documents and Links

  • Payroll Systems Cobra Premium Reduction Letter
  • Adobe PDF

  • Payroll Systems Cobra Reporting Form
  • Adobe PDF

  • Payroll Systems Cobra Frequently Asked Questions (FAQ)
  • Adobe PDF

  • IRS COBRA: Answers for Employers
  • Link


    COMPLETE SITE MAP


    Copyright © 2009

    All Rights Reseved
    Payroll Systems

    This webpage was last updated: 3/20/2009; 3:28:58 PM