Employer Solutions, Inc.
14330 South Outer Forty Rd.
Chesterfield, MO 63017
(314) 514-0700 FAX (314) 514-0088
esi@esipayroll.com WWW.ESIPAYROLL.COM
2011/2012 TAX ADVISORY
** YEAR END SPECIAL PAYROLLS, ADJUSTMENTS AND BONUSES SHOULD BE RECEIVED BY 12/15/11FOR PROCESSING**
For 2011 processing, the following are taxable issues that should be reported if they apply:
| Group Term Life | Certain Deferred Compensation Plans | Third Party Sick Pay |
| Taxable Fringe Benefits | Personal Use of Company Vehicle |
** INFORMATION ABOVE MUST BE RECEIVED BY 12/15/2011 TO ASSURE TIMELY PROCESSING **
Miscellaneous W-2 items:
Identify any employee who participates in a Company Qualified Pension Plan.
Have your employees verify social security numbers and addresses as they appear on their checks.
Notification required for 2012 payroll processing:
*Any changes in your 2012 Federal Tax Deposit Requirements (IRS Notice CP-136) and/or state.
*Changes on withholding allowances, W-4 forms, provided by employees. .
| Tax rate and limit changes for: |
2011 |
2012
|
| Medicare 1.45% |
No Max. |
No Max |
| FICA 6.2% (Pending Legislation) |
$106800 |
$110100 |
| MO Unemployment – Limit |
$13000 |
$13000 |
| IL Unemployment – Limit |
$12740 |
$13560 |
| Federal Unemployment – .6 % |
$7000 |
$7000 |
| 401K Individual Limit |
$16500/$5500 |
$17000/$5500 |
| Simple Plans |
$11500/$2500 |
$11500/$2500 |
| Mileage | 01/01-06/30/11 $.55
07/01-12/31/11 $.555 |
$.555 |
FUTA CREDIT REDUCTION HAS BEEN IMPOSED: .3% FUTA increase will be calculated on your 940 year end return. (Tax filers, we will collect and remit for you.)
Important 2012 State Unemployment Information:
Please send us the notice your company has received from your State Unemployment Office regarding any change in your 2012 Rate.
Fed/MO minimum wage is the same, $7.25. Illinois minimum wage is the same, $8.25.
Mandated W-2 reporting requirement for cost of employer sponsored group health cost in now optional for 2012. This applies to employers with less than 250 employees.
CLIENT NOTIFICATION
** W-2’S WILL BE DISTRIBUTED BEFORE 01/20/2012 **
PLEASE BE ADVISED THAT MISSING SOCIAL SECURITY NUMBERS OR NAMES THAT DO NOT MATCH WITH THE SOCIAL SECURITY ADMINISTRATION MAY RESULT IN PENALTIES ASSESSED UP TO $50.00 PER OFFENSE. IF YOU WOULD LIKE TO VERIFY THE INFORMATION WE HAVE ON FILE A LIST WILL BE PROVIDED UPON REQUEST!