Our support team will stay here today until mid-night. We hope all users can distribute W-2 Forms and 1099 Forms in time.

Try your last minute solution of W2 and 1099 reporting.

EzW2 software –prepare, print and file W-2, W-3, 1099-misc and 1096

No preprinted forms are needed for the recipient copies. You can print recipeint copies on white paper to mail it. Or you can print recipients forms into digital PDF file and email them.

Ez1099 Software – 1099s, 1098s, 5498s and more forms

No preprinted forms are needed for the recipient copies. You can print recipeint copies on white paper to mail it. Or you can print recipients forms into digital PDF file and email them.

Download ezW2 software and 1099 software now and print form instantly.

You can use the ezW2 Software backup and restore functions to transfer the W2 and 1099 data easily if you are HR manager or buisness owner

http://www.halfpricesoft.com/business-blog/post/2012/11/07/How-to-roll-forward-W-2-and-1099-data.aspx

However, if you are a CPA and have many accounts, it will be easier to transfer the data manually. Here are the steps on how to copy the data from ezW2 2011 folder to ezW2 2012 folder.

The database file is .mdb file (Microsoft Access Database file)

Step 1: Open ezW2 2011 folder

ezW2 2011 default folder

C:/Program Files/Halfpricesoft/ezW2(2011)

If you are using Windows 8, 7 or Vista with default settings, the default ezW2 2011 folder can be: 

C:/Users/**YourName**/AppData/Local/VirtualStore/Program Files/Halfpricesoft/ezW2(2011)

Step 2: Copy the .mdb files to EzW2 2012 folder

C:\Users\Public\Documents\Halfpricesoft\ezW2(2012)

Step 3: Switch current account

Start ezW2 2012, select this new database file as your current database file by clicking the top menu "Company Management->Select Company".

ezW2 software supports forms W2, W3, 1099-misc and 1096. It is compatible with Windows 8 system, 32-bit or 64-bit. It can run on Windows XP, Me, 2003, Vista and 7 systems too.

Below are the 4 simple steps to printing form W-2 on white paper.

Step 1: Setup company information

If you have not installed this W-2 and 1099 software, you can download the trial version for free from halfpricesoft.com with no credit card needed and no obligation. You can follow the step by step online instructions to finish the installation in minutes.

http://www.halfpricesoft.com/w2-software-free-download.asp

You can access Company Setup screen by clicking the top menu “Current Company->Company”.
You need to enter the general company information here, such as Company Name, Address, Tax ID and others. If you need help, you can click the top HELP menu and click the HELP button on the form.

Step 2: Set up W-3 information
You can access this screen by clicking the top menu “Current Company->W-3 information”.
You need to enter the W-3 control number, W3 Establishment Number, Contact Information and others. This information will be displayed on both forms W-2 and W-3.

Step 3: Add employees
You can access the employee list screen by clicking the top menu “Current Company->W2 Employee list”. You can add/edit/delete employee data easily. You can also import employee information quickly when using the import form by clicking the top menu “Current Company->Import W2”.

Step 4: Enter W-2 information and print W-2 forms on blank white paper
You can access this W-2 editing screen by clicking the top menu “Current Company->Form W-2”..
- Once you select the employee from the list, the employee information will be filled automatically.
- Fill in the boxes on the w-2 form.
- Click the question icon or the instructions link to get help.
- Click the 'Save' button to save the W-2 information.
- Click the 'Print W2' button to print the different copies for this recipient. Then you can print forms W2 copy A, B, C, D, 1 and 2 on white paper.
- Click the 'Print Instructions' button to print W-2 instructions

ezW2 software can print all w-2 forms (copy A, B, C, D, 1 and 2) and W3 on white plain paper. Step by step guide on how to prepare and reprint a lost W-2 yourself. Check the YouTube video at

http://www.youtube.com/watch?v=ZKEII1P7gS4

ezW2 can print ALL W2 forms (W-2 copy A, B, C, D, 1 and 2) and W3 on plain white paper if user has a laser printer.

EzW2 is compatible with Windows 7 system, 32-bit or 64-bit. It can run on Windows XP, Me, 2003 and Vista system too.

User can download the current version and the previous year’s version of ezW2 software from halfpricesoft.com.

Followings are the 5 simple steps to re-print a lost form W-2.

Step 1: Download ezW2 software

If you do not have this W2 and 1099 software installed, you can download it for free from
http://www.halfpricesoft.com/w2-software-free-download.asp. Please select the right version. No registration needed and no obligation. You can follow the step by step online instructions to finish the installation in minutes

Step 2: Start ezW2 software and set up company

You can access this screen by clicking the top menu “Current Company->Company”.

You need to enter the general company information for w2 and 1099 forms, such as Company Name, Address, Tax ID and others.

Step 3: Set up W-3 information

You can access this screen by clicking the top menu “Current Company->W-3 information”.

You need to enter the W-3 control number, W3 Establishment Number, Contact Information and others. This information will be displayed on both forms W-2 and W-3.

Step 4: Add W-2 Employees

You can access employee by clicking the top menu “Current Company->W2 Employee list”. You can add a new employee or edit or delete an existing one easily by clicking the link on this form.

You can also import Employee information quickly by using W2 import form. You can access this import form by clicking the top menu “Current Company->Import W2”.

Step 5: Enter W-2 information and print W-2 forms

You can access this W-2 editing screen by clicking the top menu “Current Company->Form W-2”..

- Once you select the employee from the list, the employee information will be filled automatically.

- Fill in the boxes on the w-2 Form.

- Click the Question icon or the instructions link to get help.

- Click the 'save' button to save the W-2 information.

- Click the 'Print W2' button to print the different W2 Copies for this recipient. ezW2 can print forms W2 copy A, B, C, D, 1 and 2

- Click the 'Print Instructions' button to print W-2 instructions.

Note: 

1. Form W-3 will be generate automatically based on form W2 information
2. ezW2 allows user to set up unlimited companies with one flat rate. So if you have multiple companies or you are an accountant, you can add new company by clicking top menu “Company Management->New company”
3. YouTube video is available at

http://www.youtube.com/watch?v=Lk_mErjN3Ew

To learn more about ezW2, 1099 W2 Printing software, please visit

http://www.halfpricesoft.com/w2_software.asp

EzW2 software can print Form W-2, W-3, 1099-misc and 1096. When users select the pre-printed form option, ezW2 can print two forms per sheet to cut cost.

Followings are the steps:

Step 1: Start ezW2 software

If you have not installed ezW2, you can download it for free at:

http://www.halfpricesoft.com/w2-software-free-download.asp

Step 2: You can click the top menu “Current Company”, then select sub menu “Form 1099”  to open 1099-misc Form Edit Screen.

Step 3: Then click the “Print 1099” button to open 1099 Print Option screen.

Step 4: On print option screen, select “Data Only on preprinted red-ink Laser Form” option.  Then check “TWO W2s per form” option.

Please make sure you select at least TWO contractors from contractor list to print two forms at the same time.

ezW2 can also print the SSA-Approved laser substitute forms of w-2 copy A and w-3 on plain paper (Vender ID: 1335). So if you have a laser printer, you can print all W-2 forms (Copy A, B, C, D, 1 and 2) and W-3 on plain white paper.

ezW2 print W2, W3, 1099-misc and 1096 forms. EzW2 also support PDF and E-file features.

To learn more about ezW2, 1099 W2 Printing software, please visit

http://www.halfpricesoft.com/w2_software.asp

EzW2 software can print all W-2 forms and W-3 form on the white paper. The laser substitute forms of W-2 Copy A and W-3 are SSA approved.

For users who prefer the red-ink forms, it continues to support the feature to print data on the traditional pre-printed forms.

When users select the pre-printed form option, ezW2 can print two forms per sheet to cut cost.

Followings are the steps:

Step 1: Start ezW2 software

If you have not installed ezW2, you can download it for free at: http://www.halfpricesoft.com/w2-software-free-download.asp

Step 2: You can click the top menu “Current Company”, then select sub menu “Form W2”  to open W-2 Form Edit Screen. 

Step 3: Then click the “Print W2” button to open W-2 Print Option screen.

Step 4: On print option screen, select “Data Only on preprinted red-ink Laser Form” option.  Then check “TWO W2s per form” option.

Please make sure you select at least TWO employees from employee list to print two forms at the same time. 

ezW2 can print the SSA-Approved laser substitute forms of w-2 copy A and w-3 on plain paper (Vender ID: 1335). So if you have a laser printer, you can print all W-2 forms (Copy A, B, C, D, 1 and 2) and W-3 on plain white paper.

ezW2 print W2, W3, 1099-misc and 1096 forms. EzW2 also support PDF and E-file features.

To learn more about ezW2, 1099 W2 Printing software, please visit

http://www.halfpricesoft.com/w2_software.asp

Yes, you can copy your 2010 databae file to your 2011 application folder.

Followings are the steps.

1. Install ezW2 2011 first.

http://www.halfpricesoft.com/w2-software-free-download.asp

2. Start ezW2 2010

3. Backup database file to ezW2 2011 folder by clicking the top menu "Company Management->Backup current company".

The default ezW2 2011 folder is:
C:\Program Files\Halfpricesoft\ezW2(2011)

4. Start ezW2 2011, select this new database file as your current database file by clicking the top menu "Company Management->Select Company".

5. You can edit your data there and print your new forms.

<note:> If you have more than one companies, you need to change the current company in ezW2 and repeat the above steps.

To learn more about ezW2, 1099 W2 Printing software, please visit

http://www.halfpricesoft.com/w2_software.asp

What is new for Tax Year 2011

1. Change the Tax Year from 2010 to 2011.

2. Form W-3, Kind of Employer.  To improve document matching compliance, box b of the 2011 Form W-3 has been expanded to include a new section, Kind of Employer, which contains five new checkboxes.  Be sure to check the “None apply” checkbox if none of the other checkboxes apply.

3. Form W-3, boxes 9 and 12b are blank. 

4. Form W-2, box 9 is blank.

(Check W-2 Form Filing Deadline here)

Payroll tax software provider, Halfpricesoft.com, reminds small business owners, HR managers and accountants that Jan 31, 2012 is the mailing deadline of 1099-MISC and W2 tax forms to recipients. Employers looking for ways to simplify W2 and 1099 tax preparation can try out the new improved ezW2 software from Halfpricesoft.com.

ezW2 2011 has updated based on the new requirements. ezW2 2011 has been approved by SSA to print the Year 2011 laser substitute forms of W-2 Copy A and W-3 on white paper.

To learn more about ezW2, 1099 W2 Printing software, please visit

http://www.halfpricesoft.com/w2_software.asp

If you are a small business owners and like to calculate the taxes manually. Please follow this step by step guide on how to use federal tax table and do it manually.

For example:

Karen is the employee of company ABC. She lives in Arizona. Her withholding rate is married/withhold at a single rate.  She has two exemptions and no extra withholds.  She gets paid $10 per hour biweekly.  She works 64 hours for each pay period.

Followings are the steps to calculate the federal tax:
 

1. Gross pay for each paycheck:
 
For each pay period, the gross pay is $640
 
2. Deduction for each paycheck:
The standard deduction is $3,800 per year (For Year 2012).
She can get total $3800*2=$7600
For each pay period the deduction is: $7600/26=$292.31

 
3. Taxable income for each paycheck
So for each paycheck, the taxable income is: 640-292.31=$347.69
 
4. Federal tax
(347.69-83.00) * 10%=264.69*10%=$26.47

Current Federal Income Withholding Tax table
http://www.halfpricesoft.com/federal_income_tax_2012.asp

Table 2 -- Biweekly Payroll Period

EzPaycheck payroll software is designed to automate paycheck processes to reduce the time spent on running payroll. The software’s graphic interface leads users step-by-step through setting up employee information, importing data, calculating payroll—including calculation of federal, state and local taxes; deductions for Medicare, insurance and 401(k) plans; and printing paychecks.

Priced at just $89 per installation, ezPaycheck’s graphical interface and functions are so intuitive that even users without much computer or accounting experience can start automating payroll processes within minutes of installation. Additionally, customers can try ezPaycheck payroll software without cost or obligation for 30 days.

Form 940 (Year 2011) - Employer’s Annual Federal Unemployment (FUTA) Tax Return

What’s New

FUTA tax rate. The FUTA tax rate was 6.2% from January 1, 2011, through June 30, 2011 (quarters 1 and 2), and decreased to 6.0% July 1, 2011, through December 31, 2011 (quarters 3 and 4).

Electronic deposit requirement. You must deposit all depository taxes (such as employment tax, excise tax, and corporate income tax) electronically using the Electronic Federal Tax Payment System (EFTPS).For more information about EFTPS or to enroll in EFTPS, visit the EFTPS website at www.eftps.gov, or call 1-800-555-4477. You can also get Pub. 966, The Secure Way to Pay Your Federal Taxes.

Credit reduction state. A state that has not repaid money it borrowed from the federal government to pay unemployment benefits is a “credit reduction state.” The Department of Labor determines these states. If an employer pays wages that are subject to the unemployment tax laws of a credit reduction state, that employer must pay additional federal unemployment tax when filing its Form 940.

Change of address. Beginning in 2012, employers must use new Form 8822-B, Change of Address—Business, for any address change.

Due Date: 

The due date for filing Form 940 for 2011 is January 31, 2012. However, if you deposited all your FUTA tax when it was due, you may file Form 940 by February 10, 2012.

Resources:

Form 940 Instructions

http://www.irs.gov/pub/irs-pdf/i940.pdf

Halfpricesoft has released the new version of ezPaycheck payroll software on latest 940 form (Year 2011).  ezPaycheck is the easy-to-use and affordable payroll software for small business and non-accountants. ezPaycheck calculates payroll taxes automatically and supports check printing feature, forms 941, 940, W2 and W3.

To learn more about ezPaycheck, please visit: http://www.halfpricesoft.com/index.asp

Or check the video ezPaycheck Made Your Payroll an Easy Job
http://www.youtube.com/watch?v=JISurtSXoZ0

We just released the new YouTube Video "How to Print a W-2 Form". You can view it: http://www.youtube.com/watch?v=_ovH2ug5XkM 

The new edition of ezW2 software is available with the updated forms and new features. EzW2 help user prepare, print and eFile W2 and 1099-misc forms for Year 2012 tax season.

Click here to view 2013 W2 1099 filing Deadline

Year end reminders:

• By January 31, 2012

Furnish Forms 1099 and W-2. Furnish each employee a completed Form W-2, Wage and Tax Statement. Furnish each other payee a completed Form 1099 (for example, Form 1099-MISC, Miscellaneous Income).

• By February 28, 2012

File paper Forms 1099 and 1096. File Copy A of all paper Forms 1099 with Form 1096, Annual Summary and Transmittal of U.S. Information Returns, with the IRS.

• By February 29, 2012

File paper Forms W-2 and W-3. File Copy A of all paper Forms W-2 with Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration (SSA)

• If you file electronically, the due date is April 2, 2012.

****

ezW2, fast W2 1099 preparing software trusted by thousands of users, is affordable but fully functional software designed for the non-accounting small business and accountants who needs to file and print Form W-2 and Form 1099

For more information on How to File W2 1099 Forms, please check 

http://www.halfpricesoft.com/w2_software.asp

For special FREE offers of red forms 1099, 1096 W-2 and W-3

http://www.halfpricesoft.com/w2-1099-forms-free.asp

Do you know nearly half of tax filers do not pay federal tax? According to the nonpartisan Tax Policy Center in Washington, D.C., 46% of tax filers will owe no federal income tax this year.

Most of them are the lowest-income Americans. However those making $75,000-$100,000 a year are the fastest-growing share of people who don't pay federal income taxes. Tax Cuts and tax breaks are the main reasons for the change.

2011 Federal Income Tax Tables
http://www.halfpricesoft.com/federal_income_tax_2011.asp

Read more at: http://www.usatoday.com/money/economy/story/2011-10-06/income-tax-nonpayment/50676912/1

County income tax rates, including Lake County's status as the only Indiana county without an income tax, appear likely to remain unchanged from 2010 rates.

California lawmakers overwhelmingly approved a compromise bill Friday night giving Amazon.com a one-year reprieve from having to collect a sales tax from its customers in the state. Under the new measure, Amazon agreed to start collecting the tax in September 2012 unless there was federal legislation on the issue.

So what should online resellers do after September 15 2012? What’s next for other states? Online sellers face mounting pressure across the country to collect sales taxes across the country.

I am not against collecting sales tax; however I am against collecting sales tax on behalf of 50 states. Small businesses are not tax collectors. Can online sellers just collect a flat rate federal sales tax?

During downturn, all businesses compete on keeping their costs of doing business as low as possible while expending their time and energy on revenue generating activities. I believe being forced to track each purchase by zip code will create unnecessary costs and price increases that will hurt everyone.

The Social Security tax is a payroll tax that was started by the United States Government in the 1930s. This tax is imposed upon working people and their employers.

For 2011, the maximum taxable earnings amount for Social Security is $106,800. The Social Security tax (OASDI) rate for wages paid in 2011 is 4.2 percent for employees and 6.2 percent for employers. 

For example, an individual with wages equal to or more than $106,800 would contribute $4,485.60 to Social Security in 2011.  The employer would contribute $6,621.60.

Related Link:

Federal Income tax Table

http://www.halfpricesoft.com/federal_income_tax_2011.asp

The Social Security Administration has released the proposed figures for the increase in the wage base for taxation for 2012 and projected some figures for the years up to 2015.

The Social Security wage base, now at $106,800, is projected to increase to $110,700 in 2012, according to the annual report of the Social Security Board of Trustees. Also – in 2012, the temporary 2% reduction in the Social Security withholding tax will expire.

This will increase the social security tax paid by high wage earners from $4,485.60 (in Year 2011) to $6,863 (in Year 2012).

Future wage bases have been projected for the years up to 2015 as well:  for 2013, the base is projected at $113,100; for 2014, $117,600; and for 2015, $122,700.

Related link:

Current federal income tax table:

http://www.halfpricesoft.com/federal_income_tax_2011.asp

Some small business owners are still calculating the taxes manually. Following is the step by step guide on how to use federal tax table and do it manually.

For example:

Karen is the employee of company ABC. She lives in Arizona. Her withholding rate is married/withhold at a single rate.  She has two exemptions and no extra withholds.  She gets paid $10 per hour biweekly.  She works 64 hours for each pay period.

Followings are the steps to calculate the federal tax:
 

1. Gross pay for each paycheck:
 
For each pay period, the gross pay is $640
 
2. Deduction for each paycheck:
The standard deduction is $3700 per year (For Year 2011).
She can get total $3700*2=$7400
For each pay period the deduction is: $7400/26=$284.62
 
3. Taxable income for each paycheck
So for each paycheck, the taxable income is: 640-284.62=$355.38
 
4. Federal tax
(355.38-81.00) * 10%=274.38*10%=$27.44

Current Federal Income Withholding Tax table
http://www.halfpricesoft.com/federal_income_tax_2011.asp

Table 2 -- Biweekly Payroll Period

EzPaycheck payroll software is designed to automate paycheck processes to reduce the time spent on running payroll. The software’s graphic interface leads users step-by-step through setting up employee information, importing data, calculating payroll—including calculation of federal, state and local taxes; deductions for Medicare, insurance and 401(k) plans; and printing paychecks.

Priced at just $89 per installation, ezPaycheck’s graphical interface and functions are so intuitive that even users without much computer or accounting experience can start automating payroll processes within minutes of installation. Additionally, customers can try ezPaycheck payroll software without cost or obligation for 30 days.

ezPaycheck payroll software is very flexible. User can set up pre-tax deduction or after-tax deduction easily.

ezPaycheck payroll software is very flexible. User can set up pre-tax deduction or after-tax deduction easily.

·         If you need to add a customize deduction, you can refer to the following article. You can select the tax option from the Deduction Details screen.

http://www.halfpricesoft.com/business-blog/post/2011/05/05/How-to-add-a-new-payroll-deduction.aspx

·         For built-in deductions (Health Insurance or 401K), you can change the tax options by following the steps below.

1. Click the left menu "Company Settings->Deductions" to open "Company Deduction Setup" screen.

2. Click the button behind 401K or Health Insurance to open "Deduction Details" screen.

3. Check/Uncheck tax options

4. Click the Save button to update changes for the deduction details.

5. Click the Save button to update changes for company deduction setup.

More information about ezPaycheck payroll software can be found at product page.

Employers across New York have been given short notice to pay more in unemployment insurance taxes to cover the state’s $95-million interest payment on federal stimulus funds borrowed during two years of high unemployment.

The maximum additional amount that most employers will pay is $21.25 per employee, state Labor Department officials said in a mid-July notice to employers. Employers have until Aug. 15 to pay the interest assessment surcharge.

The surcharge amounts to one-fourth of 1 percent of an employer’s total taxable wages in the most recently completed payroll year, Oct. 1, 2009 through Sept. 30, 2010.

Source: http://westfaironline.com/2011/15259-new-state-charge-for-employers/

New York State Tax Table

http://www.halfpricesoft.com/2011/taxrate-NewYork-2011.asp

Beginning July 1, 2011, the FUTA tax rate will decrease to 6.0%. This change will reduce the effective tax rate for most employers payroll calculation from .8% to .6%. 

Federal Unemployment Tax    

The Federal Unemployment Tax Act (FUTA), with state unemployment systems, provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both a Federal and a state unemployment tax. Only the employer pays FUTA tax; it is not deducted from the employee's wages. (For more information, refer to the Instructions for Form 940 )

 FUTA Calulations:

The FUTA tax rate was 6.2% of taxable wages before. The taxable wage base is the first $7,000 paid in wages to each employee during a calendar year. Employers who pay the state unemployment tax, on a timely basis, will receive an offset credit of up to 5.4% regardless of the rate of tax they pay the state.  

Before July 1, 2011

For most employers, the net FUTA tax rate is generally 0.8% (6.2% – 5.4%), for a maximum FUTA tax of $56.00 per employee, per year (.008 X $7,000. = $56.00).

After July 1, 2011 

For most employers, the net FUTA tax rate is generally 0.8% (6.0% – 5.4%), for a maximum FUTA tax of $42.00 per employee, per year (.006 X $7,000. = $42.00).

ezPaycheck Payroll software

Halfpricesoft.com will release the updated version of ezPaycheck Payroll Software after we get new instructions of Form 940.

California lawmakers have passed a bill to force out-of-state Internet retailers such as Amazon.com Inc. to collect taxes under two different legal theories, both of which have been criticized by online sellers.

One approach requires online sellers to collect tax if they have affiliates in California that refer shoppers to their site. Similar efforts in other states generated opposition because online retailers responded by severing relationships with in-state affiliates, often small businesses. Amazon has said it would do the same in California.

In a more novel approach, the bill requires an online retailer to collect the tax if it has sister companies in California, such as a marketing arm or product developer.

Source: http://www.businessweek.com/ap/financialnews/D9NVL82O0.htm

The IRS has started publishing a list of organizations that have had their federal tax-exempt status automatically revoked for failing to file an annual information return or notice with the IRS for three consecutive years. The Automatic Revocation of Exemption List (Auto-Revocation List) is available in Adobe and Excel formats, and divided into separate lists by jurisdiction. The Auto-Revocation List provides the name, employer identification number (EIN), organization (subsection) code, last known address, effective date of revocation, and date on which the name was posted on IRS.gov.

Check the full list at:

http://www.irs.gov/charities/article/0,,id=240099,00.html

Tip Sheet on Revocation of Tax-Exempt Status from National Council of Nonprofits

http://www.councilofnonprofits.org/sites/default/files/Automatic%20Revocation%20Tip%20Sheet.pdf

IRS Marks Small Business Week by Showcasing Tools, Resources; Spotlights Tax Benefits Available in 2011

During Small Business Week, May 16-20, the Internal Revenue Service encourages those who are self-employed or own a small business to take advantage of certain tax benefits and learn about IRS resources that can help them meet their federal tax obligations.

The Small Business Tax Center (www.irs.gov/smallbiz) has links to some of the most useful tools the IRS offers, including the Virtual Small Business Tax Workshop, a downloadable tax calendar, common forms and their instructions and help on everything from how to get an Employer Identification Number (EIN) online to how to engage with the IRS in the event of an audit.

The IRS is offering a free, 30-minute webinar called “Small Business Advantage” to show small business owners what’s available to them. The webinar is scheduled for Wednesday, May 18 at 2 p.m. ET. To register and watch, visit IRS.gov and type “webinars” into the search box.

Source: http://www.irs.gov/newsroom/article/0,,id=239507,00.html

Florida Republicans this weekend also succeeded in reducing their state’s unemployment benefits, sending a bill to Gov. Rick Scott (R-FL) for his signature:

A bill that would establish some of the deepest and most far-reaching cuts in unemployment benefits in the nation is heading for the desk of Gov. Rick Scott…The legislation would cut maximum state benefits to 23 weeks from 26 when the jobless rate is 10.5 percent or higher. If lower, the maximum would decline on a sliding scale until bottoming at 12 weeks if the jobless rate was 5 percent or less.

Followings are the main changes:

1) For Year 2011, the employee tax rate for social security is reduced to 4.2%. The employer tax rate for social security remains unchanged at 6.2%. (IRS asks that employers start using the new social security rate as soon as possible but not later than January 31, 2011.)

2) Federal payroll tax table changed

Click here to compare Year 2011 Federal tax tables and Year 2010 Federal tax tables

3) State table changed

IL, CO, HI, IN,ME, MD, MN, MO, NM, ND, OK, RI, VT published the new state tax tables.

When To File Form 941, Employer's Quarterly Federal Tax Form

Your Form 941 is due by the last day of the month that follows the end of the quarter.

1. First Quarter:  January, February, March 

Quarter Ends: March 31

Form 941 is due: April 30

2. Second Quarter:  April, May, June 

Quarter Ends: June 30

Form 941 is due: July 31

3. Third Quarter:  July, August, September

Quarter Ends: September 30

Form 941 is due: October 31

4. Fourth Quarter:  October, November, December

Quarter Ends: December 31

Form 941 is due: January 31

I just read this news from Yahoo News. 

America to have the highest corporate tax rate in April

The world’s superpower is about to lead the way in yet another realm. Next month, America is set to bear the distinction of having the highest corporate tax rate in the industrialized world.

According to a study by the Tax Foundation, America’s combined federal and state rate of 39.2 percent is only out paced by Japan’s rate of 39.5 percent – which Japan plans to lower next month. Without Japan in the lead, America’s 39.2 percent will render it the corporate tax rate leader in the developed world, aka the countries comprising the Organization for Economic Cooperation and Development (OECD).

...

source: http://news.yahoo.com/s/dailycaller/20110316/pl_dailycaller/americatohavethehighestcorporatetaxrateinapril

Maybe that is the reason so many jobs went or are going abroad and I see so many "house on sale" signs in my community.

What is your feel after reading this news?

Form 941 (Year 2011) - Employer’s QUARTERLY Federal Tax Return

What’s New

Social security and Medicare tax for 2011.  The employee tax rate for social security is 4.2%. The employer tax rate for social security remains unchanged at 6.2%. The Medicare tax rate is 1.45% each for employers and employees.

Do not withhold or pay social security tax after an employee reaches $106,800 in social security wages for the year. There is no limit on the amount of wages subject to Medicare tax.

Section 3121(q) Notice and Demand - Tax due on unreported tips.  A new line has been added to Form 941 for reporting social security and Medicare taxes on unreported tips. An employer now reports the amount of the taxes shown on the Section 3121(q) Notice and Demand on line 5e of the employer’s Form 941 for the calendar quarter in which notice and demand is made. Previously, a section 3121(q) liability was reported on the line for “Current quarter’s adjustments for tips and group-term life insurance.”

Qualified employer’s social security tax exemption expired.  The qualified employer’s exemption for their share (6.2%) of social security tax on wages/tips paid to qualified employees expired on December 31, 2010.

COBRA premium assistance credit.  The credit for COBRA premium assistance payments applies to premiums paid for employees involuntarily terminated between September 1, 2008, and May 31, 2010, and to premiums paid for up to 15 months. See COBRA Premium Assistance Payments on page 7.

Advance payment of earned income credit (EIC).  The option of receiving advance payroll payments of EIC is no longer available after December 31, 2010. Individuals eligible for EIC in 2011 can still claim the credit when they file their federal income tax return. Individuals who received advance payments of EIC in 2010 must file a 2010 federal income tax return.

Federal tax deposits must be made by electronic funds transfer. Beginning January 1, 2011, you must use electronic funds transfer to make all federal tax deposits (such as deposits of employment tax, excise tax, and corporate income tax). Forms 8109 and 8109-B, Federal Tax Deposit Coupon, cannot be used after December 31, 2010. Generally, electronic funds transfers are made using the Electronic Federal Tax Payment System (EFTPS). If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make deposits on your behalf. Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. EFTPS is a free service provided by the Department of Treasury. Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee.

For more information on making federal tax deposits, see section 11 of Pub. 15 (Circular E), Employer’s Tax Guide (for use in 2011). To get more information about EFTPS or to enroll in EFTPS, visit www.eftps.gov or call 1-800-555-4477. Additional information about EFTPS is also available in Publication 966, The Secure Way to Pay Your Federal Taxes.

Resources:

Form 941 Instructions
http://www.irs.gov/pub/irs-pdf/i941.pdf

publication 15
http://www.irs.gov/pub/irs-pdf/p15.pdf

Basic Information about Form 941

http://www.halfpricesoft.com/business-blog/post/2011/03/14/Form-941-Employers-Quarterly-Federal-Tax-Form.aspx

Halfpricesoft has released the new version of ezPaycheck payroll software on latest 941 form (Year 2011).  ezPaycheck is the easy-to-use and affordable payroll software for small business and non-accountants. ezPaycheck calculates payroll taxes automatically and supports check printing feature, forms 941, 940, W2 and W3.

To learn more about ezPaycheck, please visit: http://www.halfpricesoft.com/index.asp

Or check the video ezPaycheck Made Your Payroll an Easy Job
http://www.youtube.com/watch?v=JISurtSXoZ0

Following is the basic information about Form 941 - Employer's Quarterly Federal Tax Form. More information can be found from IRS site.

What is form 941:

Form 941- Employer's Quarterly Federal Tax Form is the form used by employers to report employment taxes , withholding amounts, deposit amounts, and amounts due to the IRS. 

Who Must File Form 941?

Use Form 941 to report the following amounts.

·         Wages you have paid.

·         Tips your employees have received.

·         Federal income tax you withheld.

·         Both the employer's and the employee's share of social security and Medicare taxes.

·         Current quarter's adjustments to social security and Medicare taxes for fractions of cents, sick pay, tips, and group-term life insurance.

·         Advance earned income credit (EIC) payments.

·         Credit for COBRA premium assistance payments.

·         Exemption for qualified employer's share of social security tax on wages/tips paid to qualified employees.

Do not use the Form 941 to report backup withholding or income tax withholding on nonpayroll payments such as pensions, annuities, and gambling winnings. Report these types of withholding on Form 945, Annual Return of Withheld Federal Income Tax.

After you file your first Form 941, you must file a return for each quarter, even if you have no taxes to report, unless you filed a final return or one of the exceptions listed below applies.

Exceptions

Special rules apply to some employers.

• Seasonal employers do not have to file a Form 941 for quarters in which they have no tax liability because they have paid no wages. To tell the IRS that you will not file a return for one or more quarters during the year, check the box on line 19 every quarter you file Form 941. See section 12 of Pub. 15 (Circular E) for more information.
• Employers of household employees do not usually file Form 941. See Pub. 926, Household Employer's Tax Guide, and Schedule H (Form 1040), Household Employment Taxes, for more information. 
• Employers of farm employees do not usually file Form 941. See Form 943, Employer's Annual Federal Tax Return for Agricultural Employees, and Pub. 51 (Circular A), Agricultural Employer's Tax Guide.

When To File Form 941

Your Form 941 is due by the last day of the month that follows the end of the quarter.

1. First Quarter:  January, February, March 

Quarter Ends: March 31

Form 941 is due: April 30

2. Second Quarter:  April, May, June 

Quarter Ends: June 30

Form 941 is due: July 31

3. Third Quarter:  July, August, September

Quarter Ends: September 30

Form 941 is due: October 31

4. Fourth Quarter:  October, November, December

Quarter Ends: December 31

Form 941 is due: January 31

Halfpricesoft has released the new version of ezPaycheck payroll software on latest 941 form (Year 2011).  ezPaycheck is the easy-to-use and affordable payroll software for small business and non-accountants. ezPaycheck calculates payroll taxes automatically and supports check printing feature, forms 941, 940, W2 and W3.

To learn more about ezPaycheck, please visit: http://www.halfpricesoft.com/index.asp

Or check the video ezPaycheck Made Your Payroll an Easy Job
http://www.youtube.com/watch?v=JISurtSXoZ0

The clock is ticking. Small business owners looking for reliable software for filing W2, 1099 and related tax forms before Feb 28, 2011 mailing deadline can turn to ezW2 Software from Halfpricesoft.com. Thousands of users put their trust in ezW2 every year, knowing that Halfpricesoft.com provides unbeatable reliability and customer service.

ezW2 software supports forms w2, w3, 1099 misc and 1096. It also save user money and time by printing the SSA approved laser substitute forms W2 copy A and W3 on the plain paper. ezW2 is compatible with Windows 7 system, 32-bit or 64-bit. It can run on Windows XP, Me, 2003 and Vista system too.

ezW2 speeds up W-2 1099 filing and saves businesses money.

1) Social Security Administration-approved printing capability for printing substitute Form W2 on plain white paper - eliminating the need for expensive red-ink forms.

So ezW2 can print ALL W2 forms (W-2 copy A, B, C, D, 1 and 2) and W3 on plain white paper if user has a laser printer.

ezW2 can also print 1099 copy 1, 2, B and C on plain white paper. Since IRS does not certify laser substitute forms right now. ezW2 will fill data on red-ink forms of 1099 misc copy A and 1096.

2) ezW2 application also supports data only on pre-printed red-ink forms. Two W2 or 1099 red-forms printed per page, cutting paper consumption in half.

3) ezW2 supports quick W2 or 1099 data importing.

4) ezW2 supports unlimited accounts, employees and contractors with one flat rate.

5) New to 2010 release of ezW2: PDF electronic printing(optional feature) for environmentally friendly businesses

Available online at http://www.halfpricesoft.com/w2_software.asp for as little as $39 per installation, ezW2 is engineered for the business owner who doesn’t have a background in accounting or computers. The interface is intuitive, user friendly and designed to get customers up and running without the huge learning curve and expense often associated with business software.

“Small business owners should be spending their time growing their business, not trying to learn software or preparing tax forms by hand,” said Halfpricesoft.com founder Dr. Ge. “We created ezW2 to make that possible. Customers can start running W2 and 1099 as soon as the software is installed - no learning curve, no wasted time.”

More controls and options in the new edition of ezW2 1099 and W2 filing software allow small business owners to better customize the software to fit their tax reporting needs and the way they work.

New customers can make sure ezW2 meets their needs by trying the software risk free. The trial version is fully functional and there is no time limit to the trial offer. The trial version of ezW2 is limited only by printing a “SAMPLE” or “DEMO” watermark on printed forms. To unlock the software for printing actual W2 and 1099 forms, customers simply purchase a license key online at http://www.halfpricesoft.com/w2_software.asp

YouTube Video: 5 Easy Steps to Prepare and Print Form W2 Yourself http://www.youtube.com/watch?v=Lk_mErjN3Ew

To learn more about ezW2, 1099 W2 Printing software, please visit

http://www.halfpricesoft.com/w2_software.asp

ezW2 software supports forms w2, w3, 1099 and 1096. It also save user money and time by printing the SSA approved laser substitute forms W2 copy A and W3 on the plain paper. ezW2 is compatible with Windows 7 system, 32-bit or 64-bit. It can run on Windows XP, Me, 2003 and Vista system too.

More controls and options in the new edition of ezW2 1099 and W2 filing software allow small business owners to better customize the software to fit their tax reporting needs and the way they work.

Followings are the 5 simple steps to printing form W-2.

Step 1: Start ezW2 software.

If you do not have this W2 and 1099 software installed, you can download it for free from

http://www.halfpricesoft.com/w2-software-free-download.asp. No registration needed and no obligation. You can follow the step by step online instructions to finish the installation in minutes.

Step 2: Set up company information for W2 reporting

You can access this screen by clicking the top menu “Current Company->Company”.

You need to enter the general company information for w2 and 1099 forms, such as Company Name, Address, Tax ID and others.

Step 3: Set up W-3 information

You can access this screen by clicking the top menu “Current Company->W-3 information”.

You need to enter the W-3 control number, W3 Establishment Number, Contact Information and others. This information will be displayed on both forms W-2 and W-3.

Step 4: Add W-2 Employees

You can access employee by clicking the top menu “Current Company->W2 Employee list”. You can add a new employee or edit or delete an existing one easily by clicking the link on this form.

You can also import Employee information quickly by using W2 import form. You can access this import form by clicking the top menu “Current Company->Import W2”.

Step 5: Enter W-2 information and print W-2 forms

You can access this W-2 editing screen by clicking the top menu “Current Company->Form W-2”..

- Once you select the employee from the list, the employee information will be filled automatically.

- Fill in the boxes on the w-2 Form.

- Click the Question icon or the instructions link to get help.

- Click the 'save' button to save the W-2 information.

- Click the 'Print W2' button to print the different W2 Copies for this recipient. ezW2 can print forms W2 copy A, B, C, D, 1 and 2

- Click the 'Print Instructions' button to print W-2 instructions.

Note: 

1. Form W-3 will be generate automatically based on form W2 information
2. ezW2 allows user to set up unlimited companies with one flat rate. So if you have multiple companies or you are an accountant, you can add new company by clicking top menu “Company Management->New company”
3. YouTube video is available at

http://www.youtube.com/watch?v=Lk_mErjN3Ew

Can you believe it 51 million will take home less not more after Year 2011 tax cut?

NEW YORK (CNNMoney.com) -- Despite a sweeping tax cut deal that is supposed to keep everyone whole financially, if not better off, 51 million households will face a higher tax bill or a lower refund compared with this year.

The main culprit: a new payroll tax break that will not be as generous for many low- and middle-income households as the tax cut it is replacing.

Here's why they won't get as much tax relief in 2011: Making Work Pay was worth $400 for individuals making $75,000 or less or $800 per couple making $150,000 or less. 

To get that much under the payroll tax break, one will need to earn at least $20,000 ($40,000 for couples). That's because the payroll tax break will amount to 2% of a worker's pay.

Source: http://money.cnn.com/2010/12/15/news/economy/payroll_tax_holiday/index.htm

By Jeanne Sahadi

*****

• Year 2011 Federal Tax Tables

http://www.halfpricesoft.com/Federal_income_tax_2011.asp

• FAQs on Year 2011 Tax Cut

http://www.halfpricesoft.com/business-blog/post/2010/12/30/QA-on-Year-2011-Payroll-Tax-Cut.aspx

• Year 2011 small business payroll software solution
• Fast W2 1099 filing software for Year 2011 tax season

Q: Is ezW2 for me?

A: Yes, any businesses and accountants can use ezW2, which supports forms W-2, W-3, 1099 misc and 1096.

Q: Does ezW2 support multiple companies?

A: ezW2 can support unlimited companies, unlimited employees and unlimited contractors with no extra charge.

Q: Can I try ezW2 for FREE?

A: Yes, you can download ezW2 2010 from our site and try it for free. No registration needed and no obligation. If you like it, you can purchase the key online. All data you entered will stay there. ezW2 - 1099 W2 preparing software http://www.halfpricesoft.com/w2_software.asp

Q: What is the price of ezW2 2010?

A: The basic version is $39 per installation, which supports unlimited companies, unlimited employees and unlimited contractors. The ezW2 PDF version is $64 per installation.

Q: How can I purchase ezW2 2010?

A: You can purchase ezW2 2010 online.

http://www.halfpricesoft.com/w2_software.asp#purchase

The key will be sent to your email account after the transaction is done. Please feel free to contact us at services@halfpricesoft.com if you cannot receive it in 30 minutes.

Q: Where can I purchase the red-ink forms w-2, w-3, 1099 and 1096?

A: You can find the red-ink forms from our site. Free offers are available.

http://www.halfpricesoft.com/w2-1099-forms-free.asp

Q: If I have ezW2 2009 installed on my machine, do I need to uninstall ezW2 2009 before installing ezW2 2010?

A: No. EzW2 2010 and ezW2 2009 can coexist on your machine.

Q: Can I copy my ezW2 2009 data to ezW2 2010?

A: Yes, you can copy your 2009 database file to your 2010 application folder.

Followings are the steps.

1. Install ezW2 2010 first.

2. Start ezW2 2009

3. Backup database file to ezW2 2010 folder by clicking the top menu "Company Management->Backup current company".

The default ezW2 2010 folder is: C:\Program Files\Halfpricesoft\ezW2(2010)

4. Select this new database file as your current database file by clicking the top menu "Company Management->Select Company".

5. You can edit your data there and print your new forms.

To learn more about ezW2, 1099 W2 Printing software, please visit

http://www.halfpricesoft.com/w2_software.asp

We just released a new video on YouTube.

Title: Fast 1099-misc reporting solution.

Link: http://www.youtube.com/halfpricesoft#p/a/u/2/D25TcFU6LKA

More information about this 1099 software solution can be found at:

http://www.halfpricesoft.com/w2_software.asp

The special offers of ezPaycheck small business payroll software start today. It will end on Nov 30, 2010.

If user like to purchase ezPaycheck 2010 version, you can get 33% off the regular price.

The regular price is: $89.

The promotion price is: $59.

If user like to purchase ezPaycheck 2010 + ezPaycheck 2011 combo package, they can even save more.

The regular price is: $148

The promotion price is: $90

More information can be found at:

http://www.halfpricesoft.com/index.asp

No more forms W2 and 1099 year-end reporting headache. The new version of ezW2 2010 is shipping for the 2010-2011 tax season to simplify the process of W-2 & 1099 reporting for small businesses. 

All software from Halfpricesoft.com, including ezW2 2010, is designed to be incredibly easy to use. Customers can begin printing forms within minutes of downloading and installing the software. The intuitive graphical interface leads users step by step through forms w2, w3, 1099 and 1096 reporting process.

"Small businesses need to be taking care of their customers without figuring out new software," said Dr. Ge. "We make our small business software simple, easy to install and use, so our customers can focus their time and energy in the right places."

A leading provider of computer software to small businesses worldwide, Halfpricesoft.com engineered this w2 & 1099 software for business people – not just for accountants or payroll tax experts.

When each calendar year ends, employers in the United States need to issue Form W-2 for each employee and Form 1099 for independent contractors. With ezW2 W2 1099 software, those forms can be printed on plain paper or red forms and are accepted by government agencies like the Social Security Administration.

Such improvements come from suggestions from Halfpricesoft.com's customers. Customers continue to drive improvements to Halfpricesoft.com's ezW2 2010 software then now makes it possible to print W-2s and 1099s even easier and affordable.

"We try to answer all customers' questions in the fastest way we can, usually within 24 hours. Our developing team records all customers' requests and reads them carefully. We believe our customers are the best members in our design team." said Dr. Ge.

ezW2 2010 saves money and time for small businesses in 6 key ways:

(1) ezW2 2010 can print 2 forms on one red form sheet - using half as many expensive red form sheets
(2) ezW2 2010 eliminates need for W2 Copy A and W3 by laser printing Social Security Administration-approved substitutes on plain white paper
(3) Users save valuable time by eliminating the learning curve - ezW2 2010 is designed to be simple and intuitive, allowing users to get started right away
(4) Users save valuable time by importing employee data and contractor data from csv file - no need for users to enter the data one by one.
(5) Users save even more time by saving form data for later use and modification

(6)Support unlimited accounts with one flat rate
(7) At $39, ezW2 is among the lowest priced, full-featured software available for small businesses.

Founded in 2003, Halfpricesoft.com has established itself as a leader in meeting the software needs of small businesses around the world with its payroll software, employee attendance tracking software, check printing software, W2/1009 software and barcode generating software. It continues to grow with its philosophy that small business owners need affordable, user friendly, super simple, and totally risk-free software.

A demonstration version of Halfpricesoft.com's ezW2 Software is available at http://www.halfpricesoft.com/w2_software.asp.

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Taking a few minutes to answer important questions before purchasing payroll software will save years of headaches afterward. Have you considered all these options and features that you might need?

We released ezPaycheck payroll software version 3.0.8 today.

What is new with this version:

User has one more option on check setup. They can select to display the whole SSN number or to mask partial of it.

• This latest version is available for free download for new users at

http://www.halfpricesoft.com/payroll_software_download.asp

• Current ezPaycheck 2010 users can update to this new version for free at:

http://www.halfpricesoft.com/payroll_software_update_2010.asp 

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